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“The UK is open for business and I am excited we are going to be able to share in the benefits of Registered Traveller with Uruguay.

Mr Speaker, there is understandable public concern that the pitch is tilted in favour of large multinational groups which are able to use cross-border structures to manage their tax liabilities.

The UK Government’s decision to focus on infrastructure spending means that the Scottish Government’s budget will increase by more than £800 million through to 2020-21, giving it even greater spending power to boost productivity and promote growth in Scotland, all while supported by the broad shoulders of the UK.

Second, that public sector net debt as a share of GDP must be falling by the end of this Parliament.

I therefore call upon all our stakeholders, particularly SMEs, to engage in the consultation over the next 6 weeks to help us to refine our policy to not only deliver the best equipment for defence at the best value for the tax payer, but to support an innovative, prosperous and internationally competitive defence industry.