Question to the HM Treasury:

To ask Her Majesty’s Government what steps they plan to take to restore the confidence of large UK companies in investment, in the light of the UK’s decision to leave the EU.

The Government is determined to make a success of Brexit, and is developing an industrial strategy that will boost productivity and investment. We will continue to monitor the economy as we approach the Autumn Statement.

The Government is speaking regularly to companies from a wide range of sectors to understand their concerns following the referendum, and will continue these conversations as we develop our economic policy.

The fundamentals of the UK economy remain strong, and recent figures show the economy grew by 0.5% in the three months from July, exceeding expectations. The UK is in a position of strength, with a world class science base, the lowest corporation tax in the G20, and plans to invest over £100 billion in infrastructure this Parliament.

Nissan’s recent announcement that the company will continue to invest in the UK is a further vote of confidence in the UK and follows on from announcements of investment from Softbank, GlaxoSmithKline, and others.