Family Businesses

Debate between Andrew Griffith and Daisy Cooper

Wednesday 26th February 2025 Commons Chamber

[Andrew Griffith]

I will not, as time is limited.

Yesterday, the Conservatives successfully amended the national insurance Bill in the other place to mitigate the worst of Labour’s job tax. In winding up, will the Minister confirm that the Government will respect that amendment to exempt hospices, care providers, GPs, pharmacies, small charities and special educational needs and disabilities providers from the worst ravages of Labour’s job tax?

Let me be entirely clear, for the benefit of every one of our constituents, that these are choices that Labour has made, and they are not choices that will lead to growth. One archetypal small business is the family-owned pub, and we can all think of a family-owned pub that we have come to love. Thousands of them will fall victim to this Government’s anti-business agenda. That is not to mention the Government’s tax on the staff behind the bar, a Bill to ban banter, a threat to end even those cheeky cigarettes outside and even a power for the Business Secretary to shrink the size of the British pint.

The Government are giving themselves unchecked powers that could see the great British pint vanquished as part of their Trojan horse, EU surrender product regulation Bill. The hon. Member for Ealing North (James Murray), who has returned to his place, says that the Government have no plans to ban the pint. If that is the case, will they support our amendment 38 to save the pint?

[Daisy Cooper]

The shadow Minister was in the Chamber when I spoke earlier. Does he not agree that it is the Weights and Measures Act 1985 that protects our pint and that we should not be scaremongering that our pint is in anyway at risk?

[Andrew Griffith]

I deeply regret that if the hon. Lady reads the Bill, she will find that it precisely confers those powers on the Secretary of State, but she can join with those on our Benches in the other place by supporting the amendment. The Government can make clear today whether they are scaremongering or whether we should all be deeply concerned. By backing the amendment, they can remove that live risk to the British pint. [Interruption.] They can back the amendment any time they want.

The bravery—I will be kind—of those sat on the Government Benches is impressive. Every single one of them will have to look their constituency business owners in the eye. Every single one will have to face constituents as they lose their livelihoods. The choices that this Government have made will put thousands of employers in the red and some out of business for good. Hundreds of thousands of jobs will be lost. For just one second, I ask Labour Members to put themselves in the position of an employer, telling their long-standing staff that they can no longer afford to keep them on.

Those on the Government Benches do not understand business. Their interests are with their union paymasters, not the workers who will lose their jobs. They are petrified of celebrating success and supporting wealth creators. This is a Government who are taking business for granted. It is devastating our economy, and we will all pay the price.

Silicon Valley Bank

Debate between Andrew Griffith and Daisy Cooper

Monday 13th March 2023 Commons Chamber

[Andrew Griffith]

I thank my hon. Friend and I again pay tribute to the hardworking officials from the Treasury and the regulators, and to my colleagues across Government, who pulled together rapidly to deliver this solution. There may be teething issues as the integration takes place, but having spoken to HSBC and the management of SVB UK, they are open for business today and serving their clients. That is the outcome that the Prime Minister and Chancellor were absolutely right to seek in time for this morning’s opening of business.

[Daisy Cooper (St Albans) (LD)]

I would like to press the Minister on his answer to my hon. Friend the Member for Richmond Park (Sarah Olney). At least two tech companies in my constituency were almost affected; I am grateful to the Economic Secretary for acknowledging my urgent letters over the weekend. One of those companies, based in St Albans, moved £200,000 from its US account to its UK account based, in part, on the statements made about SVB being an independent entity, regulated in the UK—statements that bank made to try to give the reassurance that it would not be affected. However, it then did become affected. Will the Minister clarify whether SVB would or should have known that those statements were either incorrect or misleading? If he is not prepared to comment on that particular example, will he commit to a process to look into that issue? Does he believe that there should be consequences in future for banks that make incorrect and misleading statements that put companies at risk?

[Andrew Griffith]

As I said to the hon. Member for Richmond Park (Sarah Olney), I do not think it is appropriate that I make comments from the Dispatch Box about the veracity or otherwise of statements made by an individual; I hope the hon. Lady respects that. It is, of course, right that anyone in a position of leadership in business takes responsibility and acts in good faith. Although there may well be lessons to be learned in time, the important point is that her constituents and their companies are able to operate, have access to their deposits and continue to do their work of growing important sectors of the economy. I hope the whole House will welcome that.