Trade and Investment for Growth White Paper

Stephen Mosley Excerpts

Wednesday 9th February 2011 Commons Chamber

[Vince Cable]

I did not totally follow the hon. Gentleman’s point about the statistics. Just to go over what the most recent statistics from a couple of days ago tell us, exports actually grew by 6% in the last quarter of last year, compared with the previous quarter. We should not read too much into that, because we are in abnormal conditions, but exports, along with business investment and manufacturing, are now growing. Wales, as a manufacturing and export centre, as he says, should be benefiting from that, and I hope that it will.

[Stephen Mosley (City of Chester) (Con)]

The Secretary of State’s statement was strong on specific measures for encouraging trade and exports. However, it was less detailed when it came to inward investment, which is equally important when it comes to creating jobs and growth in the UK. What specific measures is he proposing to boost inward investment into the UK?

[Vince Cable]

It is right to say that inward investment is enormously important. We start from a position of strength, as a major host country for inward investment. One of the specific actions that we are taking is giving the Trade Minister, Lord Green, personal responsibility for developing close relations with our major inward investors, in order to build up the flow of capital into this country.