Oral Answers to Questions

Gerald Howarth Excerpts

Wednesday 6th July 2016 Commons Chamber

[The Prime Minister]

Immediate action has been taken, not least the Bank of England decision to encourage bank lending by changing the reserve asset ratios it insists on. That is important because it is a short-term measure that can have some early effect. The Chancellor was talking about how we need to make sure that we configure all our policies to take advantage of the situation we are going to be in. That means changes to taxes and the way UKTI works, and a change in focus for the Foreign Office and the Department for Business, Innovation and Skills. We can make a start on all those things, irrespective of the fact that the hon. Lady and I were on the same side of the referendum campaign.

[Sir Gerald Howarth (Aldershot) (Con)]

Further to the question from my hon. Friend the Member for Worcester (Mr Walker) about UKTI, may I remind the Prime Minister that next Monday the greatest airshow in the world takes place at Farnborough in my constituency, which all right hon. and hon. Members are expected to attend? Last time, two years ago, deals worth $201 billion were signed at the Farnborough airshow, so may I prevail on my right hon. Friend, who may have a little more time on his hands, to come and open the show on Monday and encourage all other Ministers to attend?

[The Prime Minister]

I am one of the first Prime Ministers in a while to attend the Farnborough airshow and I am happy to announce that I will be going back there this year, because it is very important. We have, I think, the second-largest aerospace industry in the world after the United States, and it is a brilliant moment to showcase that industry to the rest of the world and to clinch some important export deals, both in the military and in the civilian space. I will always do everything I can, whether in this job or in the future, to support British industry in that way.