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UK’S FALLING SHARE OF WORLD EXPORTS RAISED IN COMMONS
19 March 2010
UK’S FALLING SHARE OF WORLD EXPORTS RAISED IN COMMONS
South West Bedfordshire MP Andrew Selous has highlighted the UK’s plunging share of world export trade in the Commons. Between 1997 and 2010 it has fallen by 31% whereas our near neighbour Germany with similar high costs has increased its share of world export trade by 5% over this same period. Speaking after his question to Treasury ministers, Andrew Selous said “ I was disappointed in the reply I received. In order to create jobs and get our economy going again we need to export more. The minister’s excuse of the rise of India and China simply won’t do as Germany increased its share of world exports over this period and UK trade with India and China has fallen compared with other countries.”
“The Conservatives are determined to turn the UK into Europe’s leading high tech exporter and the report by vacuum maker entrepreneur James Dyson to David Cameron has set out how to achieve this. The world does not owe us a living and we must export more. Businesses in Leighton Buzzard, Dunstable and Houghton Regis will benefit from a greater focus on boosting our export trade”.
The exchange in Hansard reads:
Andrew Selous: Exports are absolutely vital for our future economic growth, so why during the Government's stewardship has the UK's share of world trade fallen by 31 per cent., when Germany's has gone up by 5 per cent.?
Ian Pearson MP (Economic Secretary to the Treasury): My right hon. Friend the Chief Secretary says that the hon. Gentleman might have noticed the rise of India and China over the past 10 to 15 years, which probably explains why the UK has slipped down to being the sixth largest manufacturing nation in the world. However, we are still the second largest exporter of services, and our manufacturing performance is strong. I believe that it will become stronger over the next 12 months to two years, and a competitive exchange rate will help a great deal.
