Oral Answers to Questions
Debate between James Duddridge and Alun Cairns(5 years, 9 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Alun Cairns
My hon. Friend is right, and I pay tribute to him for his work as Chair of the Welsh Affairs Committee. Not only does the UK remain the No. 1 destination for foreign direct investment, but Wales has seen a 20% increase in the employment created out of that investment. Our exports are growing to record levels and, interestingly, those to areas outside the European Union are growing at a faster rate than those to the European Union.
James Duddridge (Rochford and Southend East) (Con)
The White Paper is a little light on the benefits of World Trade Organisation rules. Will the Secretary of State discuss the benefits of those rules with the Welsh Government alongside the White Paper?
Alun Cairns
I will naturally continue an ongoing dialogue with the Welsh Government about a whole host of issues. My right hon. Friend the Secretary of State for International Trade yesterday agreed to and committed to consult widely, including with the devolved Administrations. My hon. Friend is absolutely right that there are great opportunities as we leave the European Union to look at new markets, but nor should we undermine the existing complex supply chains that have built up over 40 years. The Chequers White Paper, I believe, allows us to do both.
North Wales Economic Infrastructure
Debate between James Duddridge and Alun Cairns(9 years, 1 month ago)
Westminster HallRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Alun Cairns
That is a respectable point, but the argument was being made that businesses were not investing because of the EU question. The hon. Gentleman will be able to make his point in the campaign when we have the referendum in 2017, and then people will have the choice.
The Parliamentary Under-Secretary of State for Foreign and Commonwealth Affairs (James Duddridge)
Let the people decide!
Alun Cairns
Absolutely, let the people decide. Industries and businesses invest for the long term and would not be investing now if, as the Opposition say, the position of the UK Government was undermining their future plans. That clearly is not the case. Britain is getting 50% more inward investment than either France or Germany, the next two biggest recipients of foreign direct investment. The hon. Member for Vale of Clwyd (Chris Ruane) specifically mentioned Airbus, but Tom Enders has said:
“Regardless of which decision the UK will make, we are strongly committed to our operations in the UK, which are key to the long-term future of our group.”
The evidence is quite clear, from statements from the chief executive of Airbus to the record amount of inward investment coming to north Wales. Putting doubt about the UK’s role in Europe in the minds of potential investors does not support the economic growth of the area.