Competition and Markets Authority Chairman

Alex Barros-Curtis Excerpts

Wednesday 22nd January 2025 Commons Chamber

[Justin Madders]

That is a very interesting question. I am not sure that the CMA’s role is to monitor the number of millionaires leaving the country.

[Mr Alex Barros-Curtis (Cardiff West) (Lab)]

In 2023, after the CMA blocked a particular merger, the last Conservative Chancellor, the right hon. Member for Godalming and Ash (Jeremy Hunt), said that it must “understand their wider responsibilities”. He also said:

“I do think it’s important all our regulators understand their wider responsibilities for economic growth.”

He was right, was he not?

[Justin Madders]

Yes, he was right. That is the message that the Prime Minister sent out to the regulators at the investment summit, and it is why they have been invited in to give their ideas on growth. We do not think that asking regulators how they are going to stimulate growth is a problem—that is the No. 1 mission of this Government, and everyone should be signed up to delivering on it.

Oral Answers to Questions

Alex Barros-Curtis Excerpts

Thursday 12th December 2024 Commons Chamber

[Jonathan Reynolds]

I am afraid that the shadow Secretary of State’s analysis is too simplistic. The US is a major trade partner and always will be, but he will know that so is the European Union and another area is our trade with China. The future for the UK is being positioned to get the maximum benefit from all those key markets. The kind of agreement that he puts forward would have major ramifications for British agriculture in particular, and he knows the issues associated with that. We cannot consider one of those trade negotiations without considering the impact on all those key trading relationships. I ask him to consider the issue in a more holistic and complete way.

[Mr Alex Barros-Curtis (Cardiff West) (Lab)]

T2.   Further to the successful international investment summit that my right hon. Friend mentioned earlier, which secured £63 billion-worth of investment for the UK, the First Minister of Wales, Eluned Morgan, has recently announced that Wales will hold its own major investment summit next year. Does my right hon. Friend agree that this demonstrates the power of two Labour Governments working together in partnership to deliver economic growth for the communities we represent?

[Jonathan Reynolds]

I might be biased, but I thought that the international investment summit that we held was the best day of this year. That was not just because of the investment and the real tangible jobs that came from it, but because of the clear, simple message that we could put out there: stability, openness and improving the investment environment. I am delighted to hear the news from Wales. Not only will we support that, but I appreciate the strong working relationship we have on such issues as Port Talbot and getting a better deal for that community and the workforce. We have worked hand in glove with the Welsh Labour Government, and it strengthens the things we are able to do together.

Budget Resolutions

Alex Barros-Curtis Excerpts

Wednesday 6th November 2024 Commons Chamber

[Mr Alex Barros-Curtis (Cardiff West) (Lab)]

It is a privilege to speak in this debate following the first Labour Budget in over 14 years and the first in 800 years to be given by a woman. This might not be an achievement that the Leader of the Opposition thinks is of any note, but I can tell her and the House that in my constituency of Cardiff West it is a proud moment, and one that women and girls in my constituency take great pride in.

After 14 years of chaos and instability, this Labour Government have made their choices known in this Budget. This Labour Government have chosen to deal with the £22 billion black hole left by the Tories, and to be honest about it with the British public. This Labour Government have chosen to stabilise our economy so that we can grow our economy. This Labour Government have chosen to invest in our public services and to end the austerity of the last 14 years. And this Labour Government have chosen to support and work with our devolved Governments, rather than denigrate them.

Despite our dire economic inheritance from the Tories, the Chancellor has made some tough choices while holding true to our party’s values in delivering a Budget that supports and invests in working people throughout our regions and nations. This Budget has delivered for my constituency and for Wales more generally. This is the biggest Budget since devolution. It provides a record £1.7 billion spending boost for the Welsh Government to support public services. As a result, my constituents will see the benefits both through the Barnett formula and through direct spending.

I am also proud that the Budget has set aside £100 million to support steel communities, both through the transition board and through the town centre regeneration fund. For the first time ever, it allocates funding to make coal tips safe, with £25 million in new money.

But let us not forget why the choices in this Budget were necessary. The Tories crashed the economy, and we had to fix it. In so doing, we have ensured that working people will not face higher taxes in their payslips, and we are increasing the national living wage by 6.7%.

When we talk about choices, let us not forget the choices that the Conservatives have made. They have chosen to oppose this Budget, which means they are opposed to the investment that will grow our economy. They are opposed to investing in and reforming our public services, which can only mean that they remain committed to continuing austerity.

I do not even know where to begin with the Tories’ disgraceful position of allocating no money whatsoever to their promise to pay compensation to the victims of the contaminated blood and Post Office Horizon scandals. My constituent Sue Sparkes and others have fought this injustice tirelessly.

This Budget shows the difference being made by the Labour Governments in Westminster and Cardiff, and I celebrate it.