Debate on the Address

Christian Matheson Excerpts

Monday 14th October 2019 Commons Chamber

[The Prime Minister]

I am grateful to my hon. Friend. Of course, that is not the only act of wanton expropriation—theft by the public sector of the private sector—that is envisaged, because Labour wants a massive £196 billion programme of nationalisation. That is the destruction that it would wreak on the UK economy.

By contrast, we want to boost the productivity of the whole UK with massive investment. We will begin Northern Powerhouse Rail, we will banish the rattling old Pacer trains, and we will invest in roads across the country and fleets of clean green buses. We understand that that is the way to create the platform for economic growth. If we have great infrastructure, great transport connectivity, and gigabit broadband, we have the environment in which business can flourish. We need business to flourish, do we not? Labour does not like business, but we need business to flourish not just for the tax yield, but because so many of the solutions to our problems, not least the environmental problems, are provided by the free market and by capitalism.

If we look at the battery technology in which this country now leads the world, or the designs for wind turbines or solar panels in which this country also leads the world, we see that it is not the Government who make that stuff. Yes, of course, the Government must lead and create the right fiscal and regulatory frameworks, but the Conservative vision is of a nation full of innovators, entrepreneurs and start-ups. That is not only how the green economy will take this country forward, but how we will become carbon neutral by 2050. That point is understood by proud free market Conservatives, including, as the Leader of the Opposition was kind enough to point out earlier, some of my relatives—my crustier relatives, I should say—who joined the protests in the past few days but who understand the vital importance of free market economics for delivering the solutions we need.

What would Labour do, by contrast? Labour avowedly wishes to destroy capitalism. The Leader of the Opposition wants to foment the overthrow of capitalism. Not just that, he wants to whack up taxes on virtually everything, from income tax to pension tax to inheritance tax. He envisages having the highest corporation tax in Europe and a £196 billion programme of renationalisation.

[Christian Matheson (City of Chester) (Lab)]

I am most grateful to the Prime Minister for giving way. I am listening to his exposition on the merits of free market capitalism. When was the transition to that position from his previous position, which was, “F*** business”?

[The Prime Minister]

The destruction that Labour would do to business is, I think, the single gravest concern that this country faces—far greater than any fears that business may have had about a no-deal Brexit.

Worst of all for the certainty and confidence of business is what this Opposition would do were they ever to obtain power, because they would simply delay Brexit with yet more paralysis and pointless procrastination. I say let’s not wait—we cannot wait. Let’s get Brexit done so that we can take back control of our money, our borders and our laws. Let’s get Brexit done so that we can regulate differently and better: getting life-saving medicines faster and more cheaply to market for the NHS; galvanising coastal areas with a constellation of new free ports; and organising our immigration system ourselves so that we are open to talent and open to scientists.