Andrew Gwynne
Main Page: Andrew Gwynne (Labour - Denton and Reddish)Department Debates - View all Andrew Gwynne's debates with the Department for Education
(11 years, 1 month ago)
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Vince Cable
Yes, I absolutely agree. The Prime Minister and I, and other Ministers, spend a lot of our time trying to develop exports in these growth markets and to attract inward investment from them; that is clearly where the growth is. That does not mean that the EU market is not important; it clearly is, and that is why we are pressing for improvements to the single market.
Andrew Gwynne (Denton and Reddish) (Lab)
In his autumn statement 2010, the Chancellor stated that he wanted to see an export-led recovery. Given that last year exports fell and the current account deficit was the greatest for a quarter of a century, how does the Minister responsible for exports think his Department is doing?
Vince Cable
We are being extremely energetic in promoting that agenda. It is certainly true, as the Office for Budget Responsibility has made clear, that the slow-down in the British economy was primarily due to the failure in net exports. In our major export markets, zero or negative growth has been a significant factor. As I said in my first answer, we have very rapid growth in exports to some of the big emerging markets. A lot of that is due to the supportive efforts that are being made not only by British business but by Ministers, including me.
Andrew Gwynne (Denton and Reddish) (Lab)
Last year the Business Secretary wrote to the Prime Minister complaining that his Government lacked “a compelling vision” to drive up growth and provide business confidence. Given that the growth forecast has been cut to 0.6%, and given that the economy is at best flatlining and at worst teetering on the edge of a double-dip recession, does the Business Secretary still think that the Government lack a compelling vision?
Vince Cable
The compelling vision has been manifest in the industrial strategy. As the hon. Gentleman will have noted on Monday, the Chancellor and the Prime Minister are fully behind it, and are providing financial support to make that vision a reality.