Oral Answers to Questions

Debate between Tasmina Ahmed-Sheikh and Simon Kirby

Tuesday 29th November 2016 Commons Chamber

[Ms Tasmina Ahmed-Sheikh (Ochil and South Perthshire) (SNP)]

10. What fiscal steps he has taken to help increase levels of UK exports since the UK’s decision to leave the EU.

[The Economic Secretary to the Treasury (Simon Kirby)]

The Government are committed to ensuring that exporters receive world-class support. That is why the autumn statement announced the doubling of UK export finance capacity.

[Ms Ahmed-Sheikh]

Last week, the OBR reduced its trade forecast, stating that this is

“due to the loss of trade that the OBR judges will result from the UK leaving the EU.”

We all know that this Government would like to have their cake and eat it, but changes to export finance alone will not bridge the gap between ambition and reality. Do the Government seriously expect to meet their own target of doubling exports without continued membership of the single market and without a comprehensive plan to do so? Do the Government stand by their exports target?

[Simon Kirby]

We do, and it is interesting to note that the Federation of Small Businesses, for example, welcomed the doubling of export finance because it felt that it would help small and medium-sized enterprises reach new markets. It is also interesting to note that the Scotch Whisky Association highlights the importance of exports, and it has seen an increase of 3.1%, to 531 million bottles. Perhaps the hon. Lady might remove uncertainty in Scotland by stopping banging on about a second referendum.