§ 6. Mr. BrandrethTo ask the President of the Board of Trade what steps he is taking to encourage inward investment in the north-west.
§ Mr. Neil HamiltonThe Government attach high importance to inward investment and have developed, nationally, a quality service to existing and potential investors. As a result, the United Kingdom is now the preferred European location for direct foreign investment.
In the north-west, my Department provides funding towards Inward, the regional development organisation, which has now achieved more than 150 inward investment successes, representing more than 8,000 associated jobs. Inward works closely alongside local authorities and other organisations in the region, as well as in co-operation with 340 the English Unit and the Invest in Britain Bureau. It is carrying forward an extensive programme to promote the north-west in key overseas markets.
§ Mr. BrandrethIs my hon. Friend aware that, in the past year alone, three major international companies have come to the city of Chester that might otherwise have gone to Belgium, Malaysia or the United States of America? We very much value the excellent partnership between Chester and the Department of Trade and Industry's Inward team in Manchester. Long may it continue.
§ Mr. HamiltonI am very grateful to my hon. Friend. Not least among the attractions of Chester, of course, is its Member of Parliament. I am delighted to receive my hon. Friend's tribute to the work that so many people do in the north-west do to ensure that the rest of the world knows about the attractions it offers for locating industry.
§ Ms EagleBefore the Minister drowns himself in false self-congratulation, what is he going to do, a few days after the closure of Cammell Laird, to ensure that industries which are world leaders are preserved?
§ Mr. HamiltonThere was no element of falsity in the self-congratulation. We all know that there are problems in certain parts of the north-west. Structural change is bound to bring disappointments such as that which has been felt in the hon. Lady's constituency with the closure of Cammell Laird. We have a wide-ranging programme, however, that will help to bring more jobs to the region, in particular to the Wirral, as well as to other areas that are affected by the long-term decline of certain industries. We cannot, however, set our faces against economic reality.
§ Mr. SumbergMay I make a practical suggestion to my hon. Friend? If he wants to encourage inward investment, he should confirm that regional assisted status will continue to apply to Bury and Bolton. Will he have a word with our right hon. Friend the Minister for Industry to find out whether an announcement about that can be made before we rise for the summer?
§ Mr. HamiltonI will certainly have a word, as I frequently do, with my right hon. Friend. In fact, he is sitting next but one to me on the Front Bench and I am sure that he has heard for himself what my hon. Friend said.
§ Mr. LoydenThe Minister will be aware that the Merseyside economy is based on shipbuilding and the port and has been subject to structural changes. No compensation has been offered, however, for the thousands of jobs that have been lost from Merseyside, not only from the port and shipbuilding but from related industries in the hinterland. When will the Government address that particular problem, so that jobs are created in that part of the world?
§ Mr. HamiltonThe hon. Gentleman played his full part, as a union militant, in the destruction of Liverpool's reputation as a shipping and port-based economy. He should rejoice in the fact that more traffic is passing through Liverpool port today than in its heyday in the 1950s. Since the abolition of the national dock labour scheme, that port has become competitive again.