Inward Investment

Answer from Sarah Jones

I thank my hon. Friend for her question, and welcome her and her expertise to this House. Investment by private corporations was the lowest in the G7 for almost all of the last Parliament, and the new Government are determined to reverse that decline. That begins with economic stability, something every business we talk to is crying out for. It involves the development of our industrial strategy, the levers to encourage investment, the national wealth fund, the British jobs bonus and the Industrial Strategy Council, which will provide the infrastructure that investors can understand and deal with. Next month, we will host the international investment summit with 300 industry leaders, demonstrating our mission of long-term growth, and because there is not a moment to lose, I am going to Italy tomorrow to meet key Italian investors to the UK and show that Britain is back.

Answer from Sarah Jones

I thank my hon. Friend for championing such a vital sector—our most recent data shows that UK life sciences employs over 300,000 people, generating a turnover of over £100 billion. With the NHS back on its feet under this new Government, working hand in hand with life sciences, research institutions and others, we can drive the development of new treatments and help grow our industries. Of course, I would love to meet with my hon. Friend.

Answer from Sarah Jones

Of course, Northern Ireland is incredibly important to our plans and to us. In opposition, many of us went to Northern Ireland and met with businesses. I certainly did: I met with the Chamber of Commerce and talked about the opportunities for the future in Northern Ireland. I will meet with the Secretary of State for Northern Ireland next week to talk about some of these issues, and I hope the hon. Gentleman will be reassured that we will do what we can to grow jobs, skills and investment and make sure there are no barriers to trade.