Vauxhall/Opel: Proposed Takeover

Debate between Stephen Timms and Greg Clark

Monday 20th February 2017 Commons Chamber

[Greg Clark]

I am delighted that the hon. Lady makes that point. I hope that she will respond to the consultation on the industrial strategy, because it is very clear that it reflects on and proposes ways to strengthen what are already pillars of success, including our excellence in research and development in terms of the efficiency of the industrial processes and the skills of the workforce. We cannot stand still. We need to prepare for the future, and that is precisely what the industrial strategy, which has been warmly welcomed by international investors, sets out to do.

[Stephen Timms (East Ham) (Lab)]

This deal would inevitably lead to job losses around Europe. The Prime Minister has said that we might have to leave the EU without a deal, so tariffs on vehicles and components are now a possibility. Does that not mean that UK employees will inevitably be at a disadvantage compared with their colleagues elsewhere in the European Union?

[Greg Clark]

What the right hon. Gentleman misses out of his analysis is the efficiency and success of our operations here in this country, and also our strong domestic market. It is necessary to negotiate and to get the best possible terms for our Brexit arrangement—everyone is clear about that—but he should not underplay our strengths that attract businesses to invest in this country.

Industrial Strategy Consultation

Debate between Stephen Timms and Greg Clark

Monday 23rd January 2017 Commons Chamber

[Greg Clark]

I do agree with my right hon. Friend. An industrial strategy offers us the opportunity to align policies that reinforce each other. We have some of the world’s best researchers in energy storage, and one of the world’s most effective, efficient and innovative automotive sectors. We are one of the leaders in renewable energy through offshore wind. If we bring them together, one will reinforce the other to give us this chance to be a world leader in a set of technologies that, under any reasonable estimate, seems likely to be taken up around the world in the future.

[Stephen Timms (East Ham) (Lab)]

The last thing we need is 10% tariffs imposed on autonomous vehicles. The Secretary of State is right to make the point that we have been the leading destination in Europe for overseas investment, but much of that was from companies outside Europe wanting to gain access to the single market, which the Prime Minister has now told us we are going to leave. Does he believe that the UK can remain Europe’s leading destination for inward investment outside the single market?

[Greg Clark]

Yes, I do. I said at the beginning of my statement that, as a Government and, hopefully, a country that believe in free trade, we want to have the best possible access to the single market. We continue to be a very attractive destination, but we want to be even more attractive, which is why we have set out our commitment to upgrading science and research, building better technical skills, and improving our infrastructure. Those are investments and policies that will enhance the reputation and attractiveness of the British economy.

Oral Answers to Questions

Debate between Stephen Timms and Greg Clark

Tuesday 8th November 2016 Commons Chamber

[Greg Clark]

My hon. Friend is absolutely right. If we are to maintain and build on our position of excellence, we cannot be complacent about supporting infrastructure, including digital infrastructure. In my view, it needs an upgrade.

[Stephen Timms (East Ham) (Lab)]

T5. The digital economy makes a big contribution in the UK, including in east London, with 43% of its exports going to other EU states. How do the Government plan to protect those exports after we have left the EU?