Oral Answers to Questions

Debate between Matt Vickers and Kemi Badenoch

Thursday 30th November 2023 Commons Chamber

[Matt Vickers (Stockton South) (Con)]

T1. If she will make a statement on her departmental responsibilities.

[The Secretary of State for Business and Trade (Kemi Badenoch)]

This week, I hosted more than 200 global CEOs and investors at the UK global investment summit, which was an extraordinary success. The Prime Minister set a £9.5 billion target to beat, and we tripled it, securing £29.5 billion of investment and more than 12,000 jobs. The success of the GIS is a vote of confidence in the UK. My Department’s work, supported by the £20 billion business tax cut in the autumn statement, is securing our country as a world-leading business and investment destination.

[Matt Vickers]

Many people are aware of the incredible story of the Redcar steelworks site being reborn as Teesworks, creating 20,000 jobs and unlocking £2 billion in private investment. Fewer people are aware that Stockton’s very own freeport business park is being built at the airport. Does my right hon. Friend agree that Teesside, as the home of the UK’s first and biggest freeport, offers a unique opportunity to those investing in the industries of the future?

[Kemi Badenoch]

I do agree, and my hon. Friend is quite right to praise the progress that has been made on delivering Teesside freeport. The freeport has already been successful in securing several landmark investments, including from SeAH Wind, which is investing £650 million in building an offshore wind manufacturing facility. That will create around 750 high-skilled jobs and builds on the measures announced in the autumn statement last week to further strengthen the offer of UK freeports. My Department will continue to work with freeports, in Teesside and elsewhere, on securing high-value investment.

Oral Answers to Questions

Debate between Matt Vickers and Kemi Badenoch

Tuesday 26th January 2021 Commons Chamber

[Matt Vickers (Stockton South) (Con)]

Teesside is on the up. It is a place with untapped potential, skills and expertise, and a place with boundless ambition that will play host to the biggest economic success story of the next decade. Can my right hon. Friend think of anywhere better to host Treasury North than one of the country’s first free ports?

[The Exchequer Secretary to the Treasury (Kemi Badenoch)]

I thank my hon. Friend for his question. He is a doughty champion for his region and he should know that we remain focused on the commitment we made at Budget 2020 to have 750 roles across the economic campus by the end of the Parliament. The Treasury is still considering a range of location options for the new campus. We want to ensure that the chosen location supports our wider levelling up agenda, but we will certainly take his comments and representations into account.