Oral Answers to Questions

Debate between Barry Sheerman and Graham Stuart

Thursday 15th November 2018 Commons Chamber

[Graham Stuart]

My hon. Friend is absolutely right—it is a priority of this Government to create even more high-paying jobs by making the UK the most business-friendly market in the world. The Labour party’s promise to seize the assets of foreign pension funds invested in the UK threatens our prosperity and the retirement of those around the world who have put their confidence in Britain.

[Mr Barry Sheerman (Huddersfield) (Lab/Co-op)]

In the past few years I have often thought that I live on a parallel planet to the Minister. That obviously is the case, because the senior people I meet from the United States, China and other major economies are not investing, or thinking of investing, in the United Kingdom, partly because of the uncertainty over Brexit and because, if we leave the European Union, they want a market of 650 million, not 65 million.

[Graham Stuart]

I can confirm that the hon. Gentleman does live in a parallel universe, but it is one that he shares with his Front Benchers. His parallel universe is entirely divorced from the reality that investors are coming to the UK. We are the No. 1 foreign direct investment destination in Europe. We have the largest stock, and that is why we have been able to support more than half a million new jobs since 2010. The biggest threat, investors tell me, is that of Labour coming to power.

Oral Answers to Questions

Debate between Barry Sheerman and Graham Stuart

Thursday 17th May 2018 Commons Chamber

[Graham Stuart]

I thank my hon. Friend for his question. He is right. Inward investment in Scotland has included Chanel buying Barrie in Hawick and we have trade working groups covering 21 countries. The very formation of this Department means that for the first time we have a Department of State only focused on our international economic competitiveness. For the fashion industry, for Scotland and for the whole of the UK, we will aim to work flat out to build our exports and improve the levels of investment into this country.

[Mr Barry Sheerman (Huddersfield) (Lab/Co-op)]

rose—

[Mr Sheerman]

Unlike you, Mr Speaker, the Minister has never been to Huddersfield or visited the Textile Centre of Excellence. I keep inviting Ministers, but I think they are worried because Huddersfield, which is a great centre in the premier league for fashion, has many employers who are fearful about the future and the 90% drop in inward investment in our country. There is real worry about the penetration of European markets after Brexit.

[Graham Stuart]

I am pleased to say that the fashion sense of the good people in the hon. Gentleman’s constituency is different from his—that is why they are so well dressed. Not only that, but they have a different, optimistic view about the future of the UK outside the European Union, and that is why, unlike the hon. Gentleman, they voted overwhelmingly to leave.

[Mr Sheerman]

On a point of order, Mr Speaker. My constituents voted to remain. The Minister is misleading the House.

Oral Answers to Questions

Debate between Barry Sheerman and Graham Stuart

Thursday 29th March 2018 Commons Chamber

[Graham Stuart]

As my hon. Friend will know from running a business, and as I do from my experience, this is a challenge and a work in progress. But we have established strategic relationships with the five leading UK banks. UK Export Finance launched a partnership with those banks in October 2017 to help not only exporters, but those who supply exporters, to easily access Government-backed financial support.

[Mr Barry Sheerman (Huddersfield) (Lab/Co-op)]

The Minister wants to talk about his experience; I recall that when he worked for a living he certainly did not work in the manufacturing sector, and nor did the Secretary of State, who worked in the health sector. I worked in the manufacturing sector, and I can tell the Minister that up and down the country SMEs are struggling to export, given that they are going to be blocked off from a 600 million market and left with a 60 million one.

[Graham Stuart]

This is a truly grim and sad time for those who want to see our departure from the EU lead to a collapse in investment and exports, as instead we have seen the exact opposite. We had record levels of foreign direct investment in this country. We have an improving climate for that and we have record numbers of exports from the hon. Gentleman’s area—from Yorkshire. It is about time he put the gloom away, because the facts keep defying him.