David Chadwick
Main Page: David Chadwick (Liberal Democrat - Brecon, Radnor and Cwm Tawe)Department Debates - View all David Chadwick's debates with the Cabinet Office
(2 days, 9 hours ago)
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Mr Alexander
Given the significant progress we have made on goods, it is right to recognise that there are also huge opportunities on services. I pay tribute to the tech sector in the United Kingdom and to the extraordinary work that is being done not just in my hon. Friend’s constituency, but more broadly. The City of London, I am glad to say, has become a significant global tech hub, not least for fintech. Chris Hayward, policy chairman of the City of London Corporation, said today that
“India is a key strategic partner, and this deal reflects our shared ambition to deepen trade ties, boost investment, and build lasting collaboration.”
Whether in technology, fintech or financial services, there are huge opportunities as a result of this deal.
David Chadwick (Brecon, Radnor and Cwm Tawe) (LD)
Steel tariffs were reportedly a major sticking point in these trade negotiations with India. That is of particular concern to communities across south Wales, especially following Tata’s decision to shut down its blast furnaces in Wales and across Europe while simultaneously investing in new capacity in India. Can the Minister assure the House that British steelworkers have not been sacrificed in order to secure this deal, and can he confirm what tariff rate Indian steel imports will face when the agreement comes into effect?
Mr Alexander
It was this Government who recently stepped in to save British Steel in order to save thousands of jobs and avoid a sudden collapse in our primary steelmaking capacity. Thanks to this Government’s swift intervention, we were able to secure the raw materials that kept the blast furnaces at Scunthorpe alight. British Steel has also cancelled the redundancy consultation that would otherwise have put 2,700 jobs at risk. Frankly, UK industry depends on the UK steel industry and thanks to our plan for change, demand is set to increase, as we build the 1.5 million homes, the railways, the schools and the hospitals that we need to usher in a decade of national renewal. That is the context in which we have taken forward today’s announcement.