I beg to move, That the draft Export and Investment Guarantees (Limit on Exports and Insurance Commitments) Order 2024, which was laid before this House on 14 October, be approved.

I want to start by saying “Exporting is GREAT”, and UK Export Finance, as the Minister just outlined, has done a tremendous job over many decades in supporting great British exporters, so we support these changes to the export and investment guarantees. As the Minister said, we financed £8.8 billion in export support last year, and that helped 650 UK companies to fulfil their potential by growing their overseas sales. Today, I would like to probe the Government’s attitude towards exports, and I would particularly like to hear the Minister put on record his support for free trade at this time. The UK is now in the enviable position that almost 50% of our products can now be exported tariff-free, thanks to the tireless work done under the previous Government to increase the number of markets that our exporters have access to. I want to take this opportunity to ask the Minister about specific policies. Will he be continuing the previous Government’s programme of having trade envoys around the world helping with the export connections for our exporters? Are the Government planning to take forward the discussions between the previous Government and the previous Trump Administration on a free trade agreement with the US? Will the Government be taking forward the work that was done at state-by-state level to increase trade access for UK exporters into US states? Turning to the specific measures in front of us today, has the Minister considered amending the Act itself so that the possibility could exist to increase resources by more than the 5,000 million special drawing rights that are currently covered by the legislation? Lastly, can he confirm that he will remain on the side of our exporters, our wealth creators and the many businesses across this country that do so much to raise the prosperity of the United Kingdom?

Boosting British exports, especially for our small businesses, is vital to creating jobs and economic growth, and it absolutely must be a strategic priority for the Government. This secondary legislation is a welcome step forward, giving UK Export Finance the opportunity to grow its portfolio of projects to help deliver for businesses across the country. This measure will be very important to my constituents, as Wokingham is one of the best places in the country to do business, and the Government should continue to help unlock our growth potential. We ranked 15th of 362 local authorities for competitiveness between 2017 and 2021. There is certainly more that should be done to boost British exporters and improve Britain’s trade policy. To start, the Government urgently need to fix our broken relations with the EU to foster closer co-operation with our largest trading partner. We must cut vast swathes of red tape and reduce the trade barriers that hold back our businesses. On trade, I hope this Government do not follow the Conservative party’s approach of negotiating trade deals in desperation, which led to weak outcomes. Will he meet me and representatives from Wokingham businesses to hear what they need from his Department? Will he set out to the House the specific forms of scrutiny we will get when the Government conclude the trade deal?

Welcomed the opportunity to close the debate. Reaffirmed Labour's commitment to fair and free trade, highlighting plans for a trade White Paper. Acknowledged support for accession to the comprehensive and progressive agreement for trans-Pacific partnership. Mentioned ongoing negotiations with Switzerland, India, and South Korea. Emphasised the importance of supporting British businesses in export markets. Paid tribute to Crawford Falconer's work. Discussed legislative reforms to enhance UK Export Finance’s capacity. Promoted International Trade Week and a reset in trade relationships with the EU.

Asked about the Government’s support for fair and free trade, questioned the status of the trade envoys programme, and inquired about plans to fill Crawford Falconer's role after he leaves the Department.

Noted but did not provide a full position statement in the given text.