Achieving Economic Growth

Debate between Rachel Reeves and Martin Docherty-Hughes

Wednesday 18th May 2022 Commons Chamber

[Rachel Reeves]

It is great to see Conservative Members taking so much interest in this. It suggests to me that a policy from them on the windfall tax is coming soon, and it will be welcome.

We have said that the £600 would go to a third of households. We would increase the warm home discount from £140 to £400, and that would go to a third of households. The hon. Member is, like me, an MP in Yorkshire. Across Yorkshire, every day, an extra £4.5 million is spent on energy costs as a result of the Conservative party’s failure. A total of £220 million has been spent in the seven weeks since the energy price cap went up. Constituents in Thirsk and Malton, like my constituents in Leeds West, are looking for answers, and an expansion of the warm home discount, paid for by a windfall tax, would make a massive difference throughout our region in Yorkshire.

We need an ambitious plan for the future. That is why Labour will scrap business rates, and the system that replaces them will incentivise investment, promote entrepreneurship and bring life back to our high streets. The race is on for the next generation of jobs, and Labour will make the investment we need with a growth plan to bring opportunities to the whole country, working in partnership with great British industries to get us to net zero and revitalise coastal communities and former industrialised towns. We do not want to be importing all the technologies and products we need; if we can make it here in Britain, we should do so. That is why a Labour Government will buy, make and sell more here at home.

We will make Brexit work, with a bespoke EU-UK veterinary agreement to cut red tape for the food and agriculture industries and mutual recognition of professional qualifications to help our fantastic business services industries and to make it easier for our creative industries to tour and perform. Unlike the Conservatives, Labour will ensure that our economy grows and prosperity is shared.

[Martin Docherty-Hughes (West Dunbartonshire) (SNP)]

On the matter of making Brexit work, there is a concern that the United Kingdom now mirrors the United States with its labour shortages, rather than mirroring the right to work across the European Union. This is having a drastic effect on the whole of the United Kingdom of Great Britain and Northern Ireland. Can the hon. Member say a wee bit more about how they want to emulate Europe’s labour market situation rather than that of the United States with its labour shortages?