UK-China Economic and Financial Dialogue

Sarah Olney Excerpts

Tuesday 14th January 2025 Commons Chamber

[Rachel Reeves]

We on the Government Benches are not going to apologise for getting a good deal for British businesses and the people working for them. I am determined to leave no stone unturned in ensuring that British businesses have the rights and freedoms to export and trade around the world, helping to create good jobs here in Britain.

[Sarah Olney (Richmond Park) (LD)]

UK exports to China currently represent less than 10% of the UK’s total exports, whereas our exports to the EU represent over 40%, demonstrating the greater opportunities that trading with the EU makes available to our small and medium enterprises. Will the Chancellor commit to talking four times as much to our European partners about our trading opportunities than she has to China?

[Rachel Reeves]

This is not either/or; we cannot write off one country and say that we are going to put all our eggs in a different basket. China is our fourth biggest trading partner and we cannot miss out on opportunities in a country that is growing quickly, with an expanding middle class, where there are huge export opportunities. As the hon. Lady knows, I was in Brussels in December to reset our relations—the first British Chancellor to go to a Eurogroup meeting since we left the European Union. I am leaving no stone unturned in exploiting export opportunities for British businesses.