Oral Answers to Questions

Debate between Anne-Marie Trevelyan and Mark Garnier

Thursday 23rd November 2017 Commons Chamber

[Mrs Anne-Marie Trevelyan (Berwick-upon-Tweed) (Con)]

13. What steps his Department is taking to promote to British companies the use of UK Export Finance.

[The Parliamentary Under-Secretary of State for International Trade (Mark Garnier)]

We are putting export finance at the heart of trade promotion by enhancing the financial support available to exporters and smaller companies in their supply chains. This is a new guarantee to banks designed to increase liquidity in the supply chain, improving exporters’ access to capital and enabling their suppliers to fulfil new orders. As my right hon. Friend the Chancellor stated yesterday, UK Export Finance will launch a targeted campaign to promote the support they offer to exporters and overseas buyers, as part of the wider GREAT campaign.

[Mark Garnier]

In the few short months my hon. Friend has been a Member, he has proved a doughty campaigner for the whisky industry and the agricultural industry in his patch, and I would be delighted to come along and visit him. I would point out that the Board of Trade has been established across the whole country to promote the interests of regions. We have regional international trade advisers, and they work through the Scottish Government, fully supported by the Department for International Trade.

[Mrs Trevelyan]

Berwick-upon-Tweed, Alnwick and Amble now have innovative high-tech software businesses designing unique products that have serious global market potential. Can the Minister confirm that these businesses will be able to access UK export finance to reach into new countries, boost British exports and bring new high-tech jobs into my constituency? He is, of course, welcome to stop off on his way to Scotland.

[Mark Garnier]

I would love to go to Berwick-upon-Tweed, and I cannot wait to go. It is absolutely right that UK Export Finance has introduced a number of measures, including passing delegated powers to the high street banks to offer up to £2 million of export credit. It is important that we recognise that this resource is vital to financing exports. My hon. Friend will know from the recent briefing session we held for Members of Parliament that we are keen to engage with all Members of Parliament to see how UK Export Finance can help their constituents.