International Investment Summit

Josh Dean Excerpts

Thursday 17th October 2024 Commons Chamber

[Josh Dean (Hertford and Stortford) (Lab)]

I congratulate all my hon. Friends on their deeply eloquent and moving maiden speeches this afternoon. It is a real pleasure to be in the Chamber to hear them.

I take this opportunity to commend those on the Government Front Bench for a successful, record-breaking investment summit earlier this week. The investment of £63 billion represents a real vote of confidence in this Government’s mission to grow our economy. I welcome in particular the announcement this week of a five-year programme of investment at Stansted airport, which is a major employer in our constituency of Hertford and Stortford. That programme totals £1.1 billion, including a £600 million investment in an extension to the airport’s existing terminal. That investment in the east of England’s largest single-site employer will not only provide an even better passenger experience, but help to connect our region’s innovative sectors and creative industries with their international partners.

In Bishop’s Stortford, Stansted airport is right on our doorstep, providing employment for around 1,500 residents in our town and surrounding areas. That contributes roughly £140 million in gross value added to our constituency. The terminal extension alone represents up to 5,000 additional on-site jobs, offering further employment opportunities for our residents and strong rail and bus links to our constituency, meaning that even more commuters will be able to take public transport to work. On that point, I welcome the recent Department for Transport announcement that contactless payments will be rolled out on the Stansted airport line in 2025. That will allow residents at Bishop’s Stortford and Sawbridgeworth stations to make use of tap in, tap out payments for the first time. That is an important step in improving rail travel for the many who rely on it in our constituency.

The House may already know that Stansted airport is the only major airport in this country with a purpose-built, on-site technical skills college, but I will tell the House more. Stansted airport college offers vocational training opportunities to young people in our community, and it is delivering record numbers of apprentice students into employment in aviation, helping to fill urgent skills gaps in the sector with our local talent.

Under this Government, I want Hertford and Stortford to be an even better place to live, work and learn. The investment promises to open new doors for our residents to new opportunities to gain skills for life and find meaningful work. It is also a clear signal that under this Government, Britain is once again open for business, and I hugely welcome it.