§ Mr. Stephen O'BrienTo ask the Secretary of State for Trade and Industry (1) what assessment she has made of the effect, in the event of the loss of the British Grand Prix, on(a) revenues in the motorsport sector, (b) jobs in the motorsport sector and (c) outsourcing of research and development and specialist engineering projects to the UK; [177236]
(2) what assessment her Department has made of the significance of the British Grand Prix to the success of the UK motorsport cluster. [177237]
§ Jacqui Smith[holding answer 7 June 2004]: The Motorsport Competitiveness Panel, co-chaired by my right hon. Friend the Secretary of State and Mr. Paul Barron, made an assessment of all factors influencing the success of the UK motorsport industry. It concluded that retention in the UK of "world-class motorsport events", including the Formula One Grand Prix, the Motorcycle Grand Prix and the Wales Rally GB was important both economically and in maintaining the public profile of the industry.
1495WThe panel's assessment of the direct economic impact in the event that the Formula One Grand Prix were to be lost to the UK was a net loss of £3.4 million income and 230 jobs. This estimate does not take into account any secondary effects on the UK motorsport industry. However, the panel concluded that such effects would be significant. UK-based teams have confirmed that the presence of world-class events and the associated marketing opportunities are important reasons for locating in the UK and the loss of any of these events would lead to a loss of business for UK motorsport companies.
The Motorsport Panel's full report was published on 11 July 2003 and is available at: http:// www.autoindustry.co.uk/docs/motorsportpanelreport.pdf No additional assessment of the issues raised has been made since that time.
§ Mr. Stephen O'BrienTo ask the Secretary of State for Trade and Industry how many motorsport companies use Business Links; and how many motorsport companies have applied for research and development tax credits. [177238]
Jacqui Smith: This information is not collected centrally hence the information requested cannot be provided except at disproportionate cost.
§ Mr. Stephen O'BrienTo ask the Secretary of State for Trade and Industry what initiatives her Department has undertaken to promote inward investment in the British motorsport industry. [177239]
§ Jacqui Smith[holding answer 7 June 2004]: The Department is working as part of the Government Motorsport Unit (GMU) to attract further investment to the UK's world-leading motorsport industry. International trade and inward investment are key areas of delivery for the GMU and £2 million has been set aside to support this work over the next five years.
Initiatives that have already been undertaken, in collaboration with industry bodies, include promotion of the sector at the annual Autosport Engineering and Performance Racing Industry trade shows in the UK and USA respectively. These activities are designed to encourage overseas joint ventures and alliances by UK companies as well as inward investment. Future initiatives will be undertaken based upon industry priorities.
§ Mr. Stephen O'BrienTo ask the Secretary of State for Trade and Industry what steps her Department has taken to develop the Motorsport Valley brand for promoting(a) the motorsport industry and (b) motorsport-related tourism.[177450]
§ Jacqui Smith[holding answer 7 June 2004]: In common with other motorsport-related issues, the Department's activities in this area are taken forward through the Government Motorsport Unit (GMU), which includes both central Departments and regional agencies.
In 2003, the Motorsport Valley brand was used as part of a high-profile inward investment promotion by the four regions concerned (East and West Midlands, South East and East of England). These agencies put forward a united message under the Motorsport Valley banner at the Performance Racing Industry trade show 1496W in Indianapolis, USA. The promotion was well received and further plans are being taken forward with the relevant industry bodies.
The brand is also used to promote motorsport tourism through a website: www.visitmotorsportvalley.com and an associated national motorsport map. These activities aim to reach a broader audience than traditional motorsport enthusiasts. This initiative is once again being taken forward on a collaborative basis by the four regions.