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Foreign Investment: Don Valley

Volume 681: debated on Thursday 8 October 2020

My Department recorded 331 foreign direct investment projects in the northern powerhouse in 2019-20, creating or safeguarding more than 11,000 jobs. DIT is dedicated to supporting international investment into the UK, and it can be argued—in fact it is quite hard to argue against—that we are the most successful major economy in the world in attracting foreign direct investment to our shores. Our dedicated staff across the north work closely with partners in Yorkshire and Humber to attract new and existing investors, match them to opportunities and maintain our position of having more foreign direct investment than any other nation in Europe.

Does the Minister agree that with all the new markets his Department is opening up for the UK, the Government must do all they can to support the many young entrepreneurs of Don Valley?

My hon. Friend is absolutely right. How refreshing it is to have a representative in the Don Valley who cares about business and recognises that trade needs to look at the wide scope of issues but at its heart is about the economic benefit that it brings to local people. Again and again, in session after session of these questions, the Labour party focuses on everything other than the economic benefit—the jobs and prosperity—that trade brings. That is why this Government will continue to support entrepreneurs; the Opposition come up with complex and sophisticated arguments, but again and again they oppose the very measures that will help to ensure employment and prosperity for the people of this country.