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29 Jun 2010 : Column 538W—continued
One North-East
Catherine McKinnell: To ask the Secretary of State for Business, Innovation and Skills (1) what assessment he has made of the effects of the proposed abolition of One North-East on the Passionate People Passionate Places campaign; [4711]
(2) what assessment he has made of the effects of the proposed abolition of One North-East on the North East Productivity Alliance project. [4712]
Mr Prisk: We have invited local authority and business leaders to work together and consider forming local enterprise partnerships to replace regional development agencies. Local enterprise partnerships will provide the strategic leadership in their areas and set out local economic priorities. It will be for local enterprise partnerships to decide which initiatives to support.
The Government will publish a White Paper later in the summer setting out plans for a new approach to sub-national growth.
Overseas Trade: Israel
Mr Amess: To ask the Secretary of State for Business, Innovation and Skills how much trade with Israel contributed to the UK's gross domestic product in each of the last two years; what recent discussions he has had since his appointment with his Israeli counterpart on trade between the UK and Israel; and if he will make a statement. [4328]
Mr Prisk: The benefits of international trade to gross domestic product (GDP) result from greater economic efficiency due to a combination of increased competition in markets, relative comparative advantages, economies of scale, increased opportunities for learning, and greater incentives for innovation. Due to the difficulty of differentiating between the impact of trade and other factors on growth, it is not possible to quantify precisely the impact of trade with another country on GDP.
The following table indicates the scale of UK trade in goods and services with Israel for the years 2007 and 2008 as a proportion of GDP:
| 2007 | 2008 | |
Geographical data for trade in 2009 are due to be published at the end of July.
I have not had any discussions with my Israeli counterpart since my appointment.
Mr Amess: To ask the Secretary of State for Business, Innovation and Skills what steps he (a) has taken and (b) plans to take to increase trade between the UK and Israel; how much his Department (i) has spent since January 2010 and (ii) plans to spend during the next 12 months on the promotion of trade between the UK and Israel; what recent representations he has received on increasing trade between the UK and Israel; and if he will make a statement. [4329]
Mr Prisk: UK Trade and Investment (UKTI) provides a range of support services to British companies wishing to trade with Israel, through commercial teams based in both the UK and the British embassy in Tel Aviv. UKTI support focuses, in particular, on business opportunities in high technology sectors, including biotechnology, health care, aerospace, information and communication technology, the environmental industries and financial and legal services.
UKTI supports the work of the Israel British Business Council (IBBC) and also manages a broad range of activities aimed at boosting bilateral trade and investment, including trade missions to Israel, inward missions by Israeli firms to trade fairs in the UK and promotional events aimed at encouraging Israeli companies to list in London and do business which brings benefits to Britain.
Examples of recent UKTI initiatives aimed at boosting business between Israel and the UK include a visit to Israel in May 2009 by the former Minister for Trade, Lord Davies; a British trade mission to the WATEC water and environment trade fair and conference in Tel Aviv in November 2009; a visit to Israel by UKTI's deputy chief executive in December 2009; and the promotion of business opportunities in Israel to over 450 UK companies in London, Manchester and the West Midlands through UKTI's "Partner Middle East" road shows in February 2010. Other activities of this nature will follow over the coming 12 months.
Information on annual expenditure on promoting trade with Israel is unavailable due to the difficulty of disaggregating these figures.
There have been no recent representations on increasing business between the UK and Israel.
Sheffield Forgemasters: Finance
Mr Betts: To ask the Secretary of State for Business, Innovation and Skills what the planned repayment period was for the proposed loan to Sheffield Forgemasters which was withdrawn on 17 June 2010; and what the total planned repayment amount was, including interest payments. [4494]
Mr Prisk: The planned repayment period for the loan to Sheffield Forgemasters was 14 years. The total planned repayment amount would be £110.9 million.
Equity warrants would have provided an additional return to HMG the exact quantum of which would have depended on the outcome of the project.
Mr Betts: To ask the Secretary of State for Business, Innovation and Skills if he will publish representations his Department received from individuals or groups on the proposed loan to Sheffield Forgemasters between 7 May and 17 June 2010. [4495]
Mr Prisk: The Department received a few representations from some MPs and members of the public over the period 7 May to 17 June 2010. These have been responded directly to the constituency MPs concerned, or directly to the member of the public concerned. The Department has also received confidentially one letter from a company inquiring into the state aid position of the proposed loan. The Department is prepared to publish the response to these letter, with the consent of the individuals, or organisations concerned, if that would be desirable.
Mr Betts: To ask the Secretary of State for Business, Innovation and Skills when Sheffield Forgemasters first requested that his Department to provide a loan facility. [4496]
Mr Prisk: The initial application for support from Sheffield Forgemasters for the Ultra Heavy Forging Capability was first formally received in September 2008.
Mr Betts: To ask the Secretary of State for Business, Innovation and Skills what discussions he had with Sheffield Forgemasters between 7 May and 17 June 2010 on the proposed £80 million loan facility. [4497]
Mr Prisk: I can confirm that I have had no direct discussions with Sheffield Forgemasters concerning the proposed £80 million loan or their advisers between 7 May and 17 June.
Street Trading: Public Consultation
Claire Perry: To ask the Secretary of State for Business, Innovation and Skills when he expects to publish the responses his Department has received to the joint consultation on modernising street trading and pedlar legislation, and on draft guidance on the current regime. [4812]
Mr Davey: I expect to publish the responses we have received very shortly.
The Department will inform those who responded when the responses are available on the BIS Website.
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