Jobs and Growth

Jackie Doyle-Price Excerpts

Wednesday 12th October 2011 Commons Chamber

[Jackie Doyle-Price (Thurrock) (Con)]

It is a great pleasure to follow the hon. Member for Bassetlaw (John Mann). I was rather shocked to find myself agreeing with a number of his constructive suggestions, which highlights the fact that this debate has been one of contrasts. There have been some very constructive contributions from Members on both sides of the House on how we can do more to encourage growth, but some have been disappointingly partisan. Our constituents expect us to give wise counsel when discussing important issues such as job creation and economic growth, not to engage in party political spats.

I think that we would all agree that the contraction of the economy and the financial crisis were inevitably going to impact on economic growth. The major fault line between the two sides of the House appears to be the role that the Government can play in addressing that. The Opposition keep repeating their call that the Government must slow the rate at which we are cutting, but the irresponsible thing to do was to spend more than the country could afford in the first place. Trying to right that wrong by spending more money that we do not have is not the way to fuel growth. At the heart of the Opposition’s motion is the notion that Government spending can pull us out of the recession, but again that is simply not the case. It is time the Labour party learned that it is people and businesses that generate wealth, not the Government. It is our job as a Government to facilitate and enable private businesses, not to try to spend our way out of recession and load those businesses and individual owners with higher tax bills to meet that spending and to service the inevitable debt.

Some Opposition Members have done their best to highlight everything that is ill in the world, but we also have to recognise that a lot is going well in this country. Only last week my right hon. Friend the Secretary of State for Business, Innovation and Skills and the Under-Secretary of State for Transport, my hon. Friend the Member for Hemel Hempstead (Mike Penning), the Minister responsible for shipping, came down to the borough of Thurrock to celebrate the investment in Britain’s new global shipping port and logistics centre. That investment of more than $1 billion represents the largest job-creation project in this country at present, with the potential to create up to 36,000 jobs in what will be Europe’s largest logistics park and, in the short term, 1,000 jobs as the next phase of the project kicks off.

However, the port’s contribution to the economy does not end there. Rather, it is a great illustration of how private investment in one place has a positive effect throughout the local economy. Businesses around the region—27 million people will be within half a day of the port—will be able to take advantage of a more cost-effective way of getting goods into and out of the country. The facility will transform our maritime port infrastructure and play a massive role in helping Britain’s economy over the coming years. It is a real force for competitiveness and illustrates the impact of good private investment.

That is not the only investment taking place in my area. The port of Tilbury, now in its 125th year, is also investing in expansion. There is also massive investment at Tilbury power station to create the world’s largest dedicated biomass power station, which will be contributing to the national grid before the end of the year. Those are just a few examples of how private business is generating the investment that will create more jobs and add more wealth to the bottom line of the UK economy. The answer is not Government spending; it is private sector investment. Those examples show that Britain is open for business and that private sector companies have the confidence to invest in the UK.

When the Opposition highlight what is going wrong, they are talking our economy down. We have a lot to offer in this country and we should be encouraging it. One thing that has been mentioned is access to finance for small and medium-sized businesses. Only last week I visited Barclays bank in my constituency, where I was told how much money the bank had been able to lend to businesses. However, the complaint was that although money was still available in the pot, small businesses were not coming for finance because of the narrative coming from the Opposition Benches about how it was not available. Let me say this to Opposition Members. Please stop talking our economy down. What they say will become a self-fulfilling prophesy. We have a lot to offer in this country; it is about time we encouraged it, not beat it up.