Lord Bellingham
Main Page: Lord Bellingham (Conservative - Life peer)Department Debates - View all Lord Bellingham's debates with the Department for Education
(9 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Matthew Hancock
It is interesting to hear another Labour proposal that is uncosted and unfunded. We have instead taken action to reduce by £1,000 the business rates on retail premises. We are clear that business rates need reform, and that reform will happen, but what we need are sensible contributions to the debate, given the enormous hole in the public finances that we are still having to fill.
Mr Henry Bellingham (North West Norfolk) (Con)
9. What plans he has to encourage foreign direct investment.
The Minister for Universities and Science (Mr David Willetts)
UK Trade & Investment is promoting a highly competitive corporation tax regime, seeking investment in regeneration and infrastructure and emphasising the quality of our research base, all of which make us the best place in Europe to do business.
Mr Bellingham
Is my right hon. Friend aware that there has been hugely significant inward investment of £500 million by the German firm Palm Paper in a paper mill in King’s Lynn? Does he agree that we need more such inward investment, and that to promote more foreign direct investment we need to deregulate further social and employment measures?
Mr Willetts
Our flexible labour market is one of the many reasons that foreign investors are keen to invest in the UK and we can always pursue that important agenda further. The latest independent assessment shows that the UK was the most successful country in Europe in attracting inward investment.