Middle East: Economic Response Debate

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Department: HM Treasury

Middle East: Economic Response

Calvin Bailey Excerpts
Thursday 21st May 2026

(3 weeks, 4 days ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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The measures I have set out in my statement will absolutely help the hospitality and entertainment sectors in Battersea, whether zoos, cinemas or restaurants. My hon. Friend is right to point to the economic benefits—reducing inflation, and boosting jobs and growth—of a closer relationship with our nearest neighbours and trading partners in the EU. That is why we are currently negotiating an ambitious agreement to reduce the costs of bringing in agricultural, food and farming products from the EU, and increasing markets for British farmers in the EU. That is alongside a youth mobility scheme, Erasmus, and energy trading and electricity trading across the European Union.

Calvin Bailey Portrait Mr Calvin Bailey (Leyton and Wanstead) (Lab)
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I welcome the measures that the Chancellor has set out, particularly those that will help small businesses such as Noted Eel & Pie House in Leyton, Homies On Donkeys in the ’Stone, Bare Brew and City Place in Wanstead, and Fresh as a Daisy in South Woodford. I look forward to seeing their children’s menus, so that families can benefit from the measures she has set out. What more is she doing to support hard-pressed families in Leyton and Wanstead, particularly those who rent in the current cost of living crisis?

Rachel Reeves Portrait Rachel Reeves
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I very much hope that families and businesses in Leyton and Wanstead can benefit from the changes that I have set out today. I know that the cost of renting is very high, especially in London, and the Renters’ Rights Act should give greater certainty and stability to renters and limit rent increases. In addition, families in Leyton and Wanstead will benefit from the offer of 30 hours of free childcare, the abolition of the two-child limit on universal credit and the roll-out of free breakfast clubs to primary schools. From September, straight after the summer holidays, all children whose parents or carers are on universal credit will benefit from free school meals.