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Insurance Industry

Volume 448: debated on Monday 3 July 2006

To ask the Secretary of State for Trade and Industry what steps he is taking to prevent the loss of insurance-related jobs in the UK to offshore locations. (74753)

In this globalised world, companies must be allowed to take the steps required to remain competitive. Location is a business decision for companies.

The Government are well aware of concerns about the effects of offshoring, including those on employment in the insurance sector. But we know from our consultations that there is a broad consensus in the UK that trade protectionism is not the right response. Instead, we must do all we can to ensure that those who are affected by decisions to offshore work are found alternative work as quickly as possible. We also need to ensure that the UK remains competitive and an attractive place in which other countries wish to do business.