Commons Sense

House of Commons · Ministers' Questions

International Investment in Northern Ireland

Thursday 14 September 2023 · 4 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 0 Partly answered 3 Not answered 0

Key points

  • The Northern Ireland investment summit was held in Belfast with 500 delegates from 24 countries.
  • The idea of creating an investment zone covering the whole of Northern Ireland was discussed and will be raised with the relevant Secretary of State.
  • Northern Ireland's comparative advantage in shipbuilding was highlighted, with UKEF supporting companies exporting ships internationally.

Topics (select to filter)

Questions & Answers

Q1 Andrea Leadsom Con
Economy Northern Ireland Business & Trade
Context

Northern Ireland seeks increased international investment to boost its economy.

Question

What steps are being taken with Cabinet colleagues to help increase international investment in Northern Ireland? I am concerned about the economic growth and development opportunities for Northern Ireland through increased foreign direct investment.

Answer from Kemi Badenoch

Just yesterday I was in Belfast where my Department delivered the Northern Ireland investment summit in partnership with the Northern Ireland Office and Invest Northern Ireland. Five hundred delegates, including investors from 24 countries around the world, attended to see at first hand the unique opportunities for inward investment in Northern Ireland across a range of sectors, including life sciences and advanced manufacturing.

Partly answered

Not addressed: The specific ask was not directly addressed with concrete steps or policies being implemented. The answer provided context but lacked specifics on actions taken to increase international investment.

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Q2 Andrea Leadsom Con
Economy Northern Ireland
Context

There is a proposal to create an investment zone that covers the whole of Northern Ireland to bring much-needed investment.

Question

What consideration has been given to creating an investment zone that covers the whole of Northern Ireland to bring much needed investment to that part of the United Kingdom? I am proposing this idea for its potential impact on attracting investors and boosting economic growth in the region.

Answer from Kemi Badenoch

It is a very interesting idea. Investment zone policy is owned by the Department for Levelling Up, Housing and Communities, so I will raise it with the Secretary of State there and the Secretary of State for Northern Ireland. Officials from the UK Government and the Northern Ireland civil service continue to work closely to explore developing investment zone policy in the country.

Partly answered

Not addressed: The specific ask was not fully addressed as the answer did not provide concrete plans or commitments but indicated a willingness to discuss the idea with relevant departments.

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Q3 Jim Shannon DUP Strangford
Northern Ireland Business & Trade
Context

Harland & Wolff has recruited nearly 1,000 people recently and seeks to play a part in the UK shipbuilding industry.

Question

First I thank the Secretary of State for the investment conference held in Belfast. We see this as a commitment to Northern Ireland. When it comes to international investment, we have seen Harland & Wolff recruit almost 1,000 people recently and they wish to play their part in the UK shipbuilding industry. What discussions has the Secretary of State had with relevant departments to ensure that Northern Ireland can take its place in this important sector?

Answer from Kemi Badenoch

This is an area where Northern Ireland has a comparative advantage. As we hosted the summit, we all looked out at the docks and could see that shipbuilding is integral to the country. UKEF supports many companies building ships who wish to export this magnificent UK product across the world.

Partly answered

Not addressed: The specific ask was not fully addressed as the answer provided context but did not detail any concrete discussions or support mechanisms for Harland & Wolff in the shipbuilding industry.

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Q4 Rushanara Ali Lab Bethnal Green and Stepney
Economy Business & Trade
Context

The UK ranks low in business investment compared to G7 countries.

Question

Business investment is lower in the UK than any other G7 country, and we rank 27th out of 30 OECD countries. There has been under-investment by Government and business amounting to half a trillion pounds. How does the Secretary of State plan to reverse this trend?

Answer from Kemi Badenoch

What the hon. Lady did not say is that business investment is increasing at a faster rate than in other countries. She did not mention full expensing policies brought by the Chancellor to tackle this issue, nor that we are the top destination for investment across financial services and many areas.

Not addressed: The specific ask was completely avoided as the answerer focused on disputing facts presented rather than addressing how to reverse the trend of low business investment.

How: Disputing Statistics, Redirecting Focus

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