Economic Growth

Holly Mumby-Croft Excerpts

Tuesday 14th November 2023 Commons Chamber

[Holly Mumby-Croft (Scunthorpe) (Con)]

My right hon. Friend talks about growth and productivity, and he knows that it is my strong view that steel is an incredibly important material for growth here in this country. Will he reassure the very concerned steelworkers in Scunthorpe that he is concentrating on that, and working on it on our behalf?

[Jeremy Hunt]

My hon. Friend has talked to me consistently and powerfully since I became Chancellor about the issues facing the steel industry. She is a strong advocate for her constituents. It is at the top of my mind, as we try to chart a better future for British Steel. We will bear in mind the many comments she has made.

The shadow Chancellor said in her conference speech that she would remove the barriers to business investment, by

“backing the builders not the blockers”.

Only weeks later, her party promptly U-turned and became a blocker by watering down changes to the rules on nutrient neutrality, which would have unlocked the building of 100,000 homes. That is 100,000 families whose future is on hold because of Labour’s political games.

On top of all the measures in the autumn statement, we will have the Bills from the King’s Speech, including a trade Bill that will confirm our membership of the comprehensive and progressive agreement for trans-Pacific partnership, making us part of a group that wields a combined GDP of £12 trillion and a presence in the Indo-Pacific, where the majority of global growth will be. The Automated Vehicles Bill, which the shadow Chancellor mocked, will make the UK one of the first countries in the world to have a legal structure to allow driverless cars. The Digital Markets, Competition and Consumers Bill will modernise our digital laws to boost online shopping by making it safer. The Offshore Petroleum Licensing Bill will secure our energy independence by replacing imported oil and gas with domestically produced fuel as we transition to net zero.

The Leader of the Opposition called the King’s Speech something that will only bring more of the same. In a way, he is right: more growth, more jobs, more pay, more opportunity and more prosperity. We are not following the easy path of opening the national cheque book and maxing the country’s credit card by borrowing £28 billion a year more; we are taking a path that is more difficult, yes, but more durable, and one that will turn us into one of the most prosperous countries in Europe. I commend it to the House.

Non-domestic Energy Support

Holly Mumby-Croft Excerpts

Monday 9th January 2023 Commons Chamber

[James Cartlidge]

That sounds like an interesting idea. I would be more than happy to meet the right hon. Lady.

[Holly Mumby-Croft (Scunthorpe) (Con)]

I welcome the measures announced today, particularly those relating to energy-intensive industries, and the duration of those measures. I will look very carefully at what has been announced.

The Minister will know that thousands of world-class steelmakers in Scunthorpe are listening carefully to what is being announced. May I press him to look at the evidence over the next 12 months so we can reassure ourselves that our support is in line with that in other countries, and so we know we are providing a level playing field for the domestic steel industry in this country? That is all it asks.

[James Cartlidge]

My hon. Friend, like her constituency neighbour sitting next to her—my hon. Friend the Member for Brigg and Goole (Andrew Percy)—is a champion for the steel sector. She makes a very good point. I understand the huge importance of the industry to her constituency and hope that it will welcome today’s announcement on the energy and trade-intensive industry support and the additional discounts that will be provided. I should stress that as well as having a more generous discount, the scheme will apply at a lower threshold; that is important.

My hon. Friend makes a really important point about duration. The current £18 billion scheme is for six months; the industry said that it wanted 12 months, and we have delivered that. We absolutely want to look at what more we can do to be internationally competitive.

Economic Update

Holly Mumby-Croft Excerpts

Monday 17th October 2022 Commons Chamber

[Jeremy Hunt]

I have a lot of respect for the hon. Gentleman as a great parliamentarian, but will he allow me to say that there is not really a polite word to describe the nonsense that he has just uttered? We inherited the worst financial crisis since the second world war from his party, and since then, we have become the third-fastest growing country in the G7. He talked about the NHS, which had a £20 billion increase in funding on my watch—40,000 more doctors, nurses and other clinicians—and there is more to come if we take the difficult decisions to grow our economy that his party always opposes.

[Holly Mumby-Croft (Scunthorpe) (Con)]

My right hon. Friend the Chancellor knows very well the importance of steel, both to my Scunthorpe constituency and to our country. Will he confirm that the energy support package for business remains unaltered, and that when the Treasury enters into the three-month review it will do so mindful of the strategic value of steel?

[Jeremy Hunt]

Yes and yes.

Oral Answers to Questions

Holly Mumby-Croft Excerpts

Tuesday 15th September 2020 Commons Chamber

[Miriam Cates (Penistone and Stocksbridge) (Con)]

What fiscal steps his Department is taking to support businesses affected by the covid-19 outbreak.

[Holly Mumby-Croft (Scunthorpe) (Con)]

What fiscal steps his Department is taking to support businesses affected by the covid-19 outbreak.

[The Economic Secretary to the Treasury (John Glen)]

The Government recognise the extreme disruption that the pandemic has caused businesses, which is why we have delivered a generous and comprehensive package of support, in line with best practices globally, totalling more than £190 billion. That has included grants, loans, the furlough scheme, the self-employment income support scheme, deferred VAT payments, business rate reliefs and protections for commercial tenants.

--- Later in debate ---

[Holly Mumby-Croft]

I have been told by businesses in my constituency that the hospitality VAT cut was a lifeline to them and helped them to continue. Will my right hon. Friend consider extending that VAT cut beyond January next year, to help those businesses with that recovery?

[John Glen]

Clearly, every intervention has a cost, and that measure provided support for 150,000 businesses, protecting 2.4 million jobs. As we approach future fiscal events, all contributions and businesses cases for changes will be looked at carefully by my right hon. Friend the Chancellor. I am sure that he has heard my hon. Friend’s representations today.

--- Later in debate ---

[Steve Barclay]

I think my right hon. Friend addressed this in his reply to the shadow Chancellor. The key issue is to look at the package of measures the Government are putting in place. First and foremost among those is retaining people’s link to employment. That is the most important issue. Alongside that, the measures on welfare, including support for businesses that are in lockdown, are part of the comprehensive response, and statutory sick pay is one of a suite of measures.

[Holly Mumby-Croft (Scunthorpe) (Con)]

  Does my right hon. Friend agree with me that the best way to stimulate our economy is through measures that create jobs and help people back into work?

[Steve Barclay]

My hon. Friend is absolutely right. That is the underlying principle behind furlough—to enable the labour market to bounce back, with jobs in businesses that were viable before the pandemic being able to recover quickly. It is also part of the three-phase strategy that my right hon. Friend the Chancellor has set out. The second phase is to concentrate on skills to create jobs, protect jobs and support jobs, and to enable those workers to come back into the economy and for the economy therefore to recover quicker.