Gareth Thomas

Gareth Thomas

Labour (Co-op) — Harrow West

Speaking in the House of Commons on 13 November 2024

Debate

Export and Investment Guarantees

Contribution

I welcome the opportunity to close the debate. I thank the hon. Members for West Worcestershire (Dame Harriett Baldwin) and for Wokingham (Clive Jones) for their comments and questions, which I will try to answer before I make some final remarks about the statutory instruments. The hon. Member for West Worcestershire asked if the UK Government support fair and free trade. I reconfirm our absolute commitment to supporting fair and free trade. We have made it very clear that trade is one of the key planks of the work of the Department. My right hon. Friend the Minister for Trade Policy and Economic Security, reporting to the Secretary of State, is leading work on a trade White Paper, which we will bring forward in due course. I am sure the hon. Lady will see the Government’s commitment to fair and free trade reflected in that document. As the hon. Lady knows, when we were in opposition, we supported accession to the comprehensive and progressive agreement for trans-Pacific partnership. We are working to agree a number of free trade deals, for example with Switzerland, India and South Korea. She asked me about the trade envoys programme. We are sympathetic to such a programme continuing. We are looking at it closely, as she would expect, and we will bring forward an update to the House in due course. The hon. Lady asked me about our views on trade with the United States. We recognise that the US is already a key export market for many British firms, and we want to look at all opportunities to increase trade with the US. I will come back to legislative reform more generally, but she is right to underline the message that we have to be on the side of wealth creators in this country if we want to see growth, more jobs and better pay for those in our communities. Winning export orders is fundamental to delivering growth, so a substantial amount of time in the Department is being spent thinking through what else we can do to support British businesses to win export orders overseas. UK Export Finance is one part, but not the only part, of that story, and we will bring forward our plans in due course.

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