Derek Twigg
Main Page: Derek Twigg (Labour - Halton)Department Debates - View all Derek Twigg's debates with the Department for Education
(10 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Michael Fallon
The hon. Gentleman makes an important point. There are schemes to assist companies with their export finance, but only large companies have taken advantage of them in the past. We need to do more to market those schemes. I do not think it is fair to take one month’s particular trade figures. We are increasing our trade, particularly with the emerging economies of Brazil, Russia, India and China.
Derek Twigg (Halton) (Lab)
The fact is, though, that exports are at their worst and lowest level since 2010. It is interesting that the chief economist of the British Chambers of Commerce has said:
“We need to match resources committed by our major competitors if we are to compete on a level-playing field when exporting overseas.”
What is the Minister doing specifically to ensure a level playing field for the chemical industry?
Michael Fallon
The trade deficit actually narrowed in 2013, so I repeat that I do not think it is right to take just the figures from February. We have specifically been helping the chemical sector recently. The energy package announced in the Budget will make a significant difference in freezing the carbon price floor. We are giving the chemical industry more help by exempting it from the renewables obligation and the feed-in tariffs. The energy taxes are being cut, which will significantly help both the chemical and the steel industry.