Baroness Cash Portrait Baroness Cash (Con) (Maiden Speech)
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My Lords, it truly is an honour to take a place on these venerable Benches and make my maiden speech today. I start by congratulating the noble Baronesses, Lady Berger and Lady Gray, on their excellent maiden speeches—and no easy acts to follow. I do not really need to worry too much, I believe, because truly I am just the warm-up act for the noble Lord, Lord Young, today. He is someone who has already starred in many of his own features in life, and he is a fine colleague. So I look forward also to hearing his maiden speech.

I thank noble Lords on all sides of the House for the warmest welcome. It is true what everyone says about the courtesy and embrace when one arrives here. I am very grateful also to all the officials and staff, particularly our dedicated doorkeepers. I am grateful to my sponsors, some of the finest academic minds and most principled people I know: the noble Baroness, Lady Falkner of Margravine, who is also my chair at the EHRC, and the noble Lord, Lord Godson, who has been a dear friend for nearly 30 years. I am also grateful to the noble Baronesses, Lady Finn and Lady Morris of Bolton. I have two mentors. I have not dared to ask why they thought I might need double supervision, but I thank them for their courage in stepping up to do it.

Since learning that I would be joining your Lordships, I have received many kind messages and kind words—including, rather delightfully, from my primary 7 teacher Ken Cardwell. That reminded me that, when I was 10 years old in his class, he had also once trusted me to make a speech on a subject of my choice, on the day of a school inspection. Unaccustomed as I am, and have always been, to public speaking, I relished this prospect, and he was confident that this particular child would not let him down. When I ran into him 20 years later, the horror was still palpable on his face when he described how I had stood up in front of the class and announced, rather cheekily, “I’m not giving a speech today”. His heart sank and there was the most terrible pause, until I whisked from behind my back a hand puppet and announced, “He is” and proceeded to lecture them all on ventriloquism.

I will not be quite as random today. I have chosen this debate because I have a life that some of you do not know much about. I have been very lucky to know some noble Lords in parts of my career as a barrister, parliamentary candidate or, indeed, a policy wonk—something I still love. But what is less well known is that I have for 10 years, prior to now, chaired the UK’s leading behavioural science business, which we took on to the stock market. During that time, I have seen first-hand the challenges of running an SME. We confronted the pandemic, we then had costs ratcheting and salary insecurity as a result of the war in Ukraine. Now, we are looking forward to really strangulating increases in national insurance. I also know from running that business, because we work with 62% of the FTSE 100, that most employers want the best for their employees. It is not a them and us; talent is what makes businesses work and grow, and they are highly valued by the majority of people. It saddens me enormously to know so many people in business spoken about in some of the ways we have heard in the other place.

This was not my first experience of business. I grew up in Northern Ireland in the 1970s. That was the height of the Troubles, but it was also a low ebb for our economy. I spent my early years in the anteroom of a tiny newsagents run by parents. They worked incredibly long hours, while my father also held down a full-time job. It was not easy and costs were high.

Those micro-businesses—I owe my parents a world of thanks for the way they worked in theirs—employ 33% of the workforce. That is an enormous number of businesses with between nought and nine employees. The consequence of some of the changes introduced by this Bill in subjecting those tiny businesses to some of these new ideas will be to strangle them, mostly at birth. Costs are rising, taxes are rising and profits—that dirty old word—for them are falling. Profits for those businesses can mean a pair of trainers for their children, or the hope of a family holiday. Are we really going to do that to 33% of the providers of our workforce?

From the CBI to the Federation of Small Businesses, every representative group is warning—pleading—that the implications of this Bill mean a disaster for growth in this country. It is not all bad—of course we want to see more fathers take parental leave, and there are other good things—but the overall direction of travel is to create unintended consequences. If I have learned anything from leading a behavioural science business for 10 years, it is that, often, the things we do to achieve a certain outcome have exactly the opposite effect. This Bill is destined to destroy our growth.