Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, pursuant to the Answer of 22 June 2021 to Question 17695 on Investment and Trade: Wales, what her Department’s allocated budget is for the (a) establishment and (b) running of the proposed trade and investment hub in Northern Ireland.
Answered by Graham Stuart
The budget allocated to the Department for International Trade (DIT) Northern Ireland hub for the current financial year is £366,138 to cover staff pay for the initial team. We expect costs to increase as our delivery progresses under the Places for Growth programme, which will see DIT grow its presence in Cardiff, Edinburgh, Belfast and Darlington. The budget allocated for running the DIT Northern Ireland hub in future years will be determined after the upcoming spending review has concluded.
Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what her Departments allocated budget is for the (a) establishment, and (b) running of the proposed trade and investment hub in Wales.
Answered by Graham Stuart
The budget allocated to the Department for International Trade (DIT) Wales hub for the current financial year is £419k, to cover staff pay for the initial team. We expect costs to increase as our delivery progresses under the Places for Growth programme, which will see the DIT grow its presence in Cardiff, Edinburgh, Belfast and Darlington. The budget allocated for running the DIT Wales hub in future years will be determined after the upcoming spending review has concluded.
Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what steps her Department has taken to support the Welsh Government’s trade responsibilities established through the 2013 Devolution Memorandum of Understanding.
Answered by Graham Stuart
The 2013 MoU states that HMG has lead responsibility for the provision of support and assistance to new and existing exporters and outward investors both at home and overseas, and for promoting the UK to foreign investors. The Welsh Government is responsible for devising and implementing additional programmes to meet the particular needs of companies in Wales and for promoting Wales to foreign investors.
We are dedicated to providing the best possible trade and investment support for all nations of the United Kingdom. Last month, we announced a new Trade and Investment Hub in Cardiff as part of a new strategy to boost exports and bring the benefits of the government’s global trade policy to the whole of the UK, including benefits from future free trade agreements with the US, Australia, New Zealand and CPTPP. My colleague, the Minister of State for Trade Policy, holds regular bilateral meetings with his Welsh counterpart as well as the quarterly Ministerial Forum for Trade.
In 2020 more than 56,000 jobs were created throughout the UK through foreign investment, including 2,736 new jobs in Wales. Our free trade agreements will significantly benefit exporters in Wales. For example, indicative estimates show that an ambitious UK-US FTA could boost the economy in Wales by £154m.
Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, whether her Department conducted an impact assessment on the establishment of a Trade and Investment Hub in Cardiff.
Answered by Graham Stuart
No impact assessment was conducted on the establishment of a Trade and Investment Hub in Cardiff. Government-led research included in a Board of Trade report published in March showed exports support 6.5m jobs across the UK, 74% of which are outside London. The research estimates jobs directly and indirectly supported by exports pay around 7% higher than the national median, with Office for National Statistics estimating that goods-exporting businesses are also 21% more productive. Exports and Foreign Direct Investment (FDI) will be central to this Government’s mission to ‘level up’ the UK economy. Given this context, the Trade and Investment Hubs in Cardiff, Edinburgh, Belfast and Darlington will be established as part of the Department for International Trade’s refreshed strategy to boost exports and bring the benefits of the government’s global trade policy to the whole of the UK.Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what discussions she had with the Welsh Government prior to the announcement of a Trade and Investment Hub in Cardiff.
Answered by Graham Stuart
The Department for International Trade (DIT) works closely with the devolved administrations on our full trade agenda. This includes regular ministerial engagement through the Ministerial Forum for Trade, which takes place at least 3 times a year and which met most recently on March 18th.
DIT also runs a substantial programme of senior official-level engagement which includes Welsh Government colleagues, for example through our Senior Officials Group and Executive Forum.
Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, how many meetings she has had with the Welsh Government on the (a) Welsh Government’s trade strategy and (b) promotion of Welsh exports in 2020.
Answered by Graham Stuart
The Department for International Trade (DIT) works closely with the devolved administrations on our full trade agenda. This includes regular ministerial engagement through the Ministerial Forum for Trade, which takes place at least 3 times a year and which met most recently on March 18th.
DIT also runs a substantial programme of senior official-level engagement which includes Welsh Government colleagues, for example through our Senior Officials Group and Executive Forum.
Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what discussions she has had with HMRC to simplify the application of VAT charges on imported goods.
Answered by Greg Hands
HM Revenue & Customs (HMRC), HM Treasury and the Department for International Trade work closely together to ensure the interests of traders are taken into account in developing HM Government’s policies on Value Added Tax (VAT) and helping businesses understand the policies.
Following the end of the transition period, businesses can account for import VAT on goods from European Union (EU) and non-EU countries through their periodic VAT returns, helping with their cash flow. Changes to other VAT rules on the import of goods have been made to address non-compliance and ensure UK high street businesses are not disadvantaged by competition from overseas businesses bringing in VAT-free imports.