Middle East: Economic Response

Jeremy Corbyn Excerpts

Thursday 21st May 2026 Commons Chamber

[Rachel Reeves]

I remember that, when I was young, I used to enjoy visits to Chislehurst Caves and Eltham Palace, and I hope they will be able to benefit from the changes I have announced today. It is important that we ensure that supermarkets pass on these cost reductions to their customers. We are also making changes to HGV duty, which will reduce costs for supermarkets. It is important that Supermarkets recognise the pressure that their customers are under at the moment. We have provided additional powers to the Competition and Markets Authority to ensure that no business, whatever its size or nature, takes advantage of the conflict in the middle east to hike prices for their customers.

[Jeremy Corbyn (Islington North) (Ind)]

Youth unemployment is now at 5%. On current form, it will rise to 5.8% by next year, which will mean a very large number of young people without work. What actions can the Chancellor take to ensure that young people get access to jobs and careers, and do not have the deeply depressing experience of being unemployed when they leave school, college or university? A disproportionate number of young people rent in the private rental sector, so will she also do something about bringing in much needed rent regulation in the private rental sector?

[Rachel Reeves]

We have already increased the number of apprenticeships, and changes to the growth and skills levy mean that young people do not always have to have maths and English at grades A to C to get on to an apprenticeship programme. We have also introduced shorter apprenticeships to help young people to get the skills they need. On private rent, the right hon. Gentleman might have seen the changes that we made through the Renters’ Rights Act 2026, which gives renters the greatest rights they have had in a generation, including the right to challenge a rent increase and to have only one rent increase a year. If someone challenges their rent increase and takes their case to a tribunal, they will not have the rent increase during the course of the tribunal, helping to limit rent rises for hard-working families.