Economic Growth

Kate Kniveton Excerpts

Tuesday 14th November 2023 Commons Chamber

[Kate Kniveton (Burton) (Con)]

I refer Members to my entry in the Register of Members’ Financial Interests. It is an honour to speak in the first King’s Speech debate in over 70 years, and I pay tribute to His Majesty the King for the grace and dignity with which he has taken up his duties and delivered his first Gracious Speech. There is much to welcome in this Gracious Speech, which sets out long-term measures to safeguard our country’s future, whether it is keeping communities safe through tougher sentencing of prisoners, securing our energy security while maintaining our net zero commitments or securing economic growth across every part of our country.

I know that my constituents in Burton and Uttoxeter are really feeling the effects of recent high inflation and the impact it has had on household finances. Earlier this year, the Office for Budget Responsibility reported that the economic and fiscal outlook had “brightened somewhat”, but there are still challenges. We must encourage productivity, growth and business investment, but we need the infrastructure in place to support that growth.

I am very proud to be the project champion for the A50/A500 corridor, which runs through my constituency and is a key strategic link for many international businesses, including JCB, Toyota, Rolls-Royce, Nestlé and many more. Unfortunately, this key piece of our nation’s manufacturing infrastructure is currently costing our economy £8 million each year due to delays impacting residents, commuters and businesses. At several pinch points, the corridor is slow and unreliable, with average rush hour speeds of 20 mph.

Vital improvements need to be made to unlock the potential of this corridor, and the proposals put together by Midlands Connect offer a long-term programme of interventions to improve reliability and shorten journey times. This is about not only improving connectivity for residents and businesses but creating jobs, driving innovation and reducing emissions through alternative fuels and electric vehicle infrastructure. These improvements would support 30,000 new homes and 17,000 new jobs by 2030, as well as improving air quality made worse by chronic congestion. I was delighted when the Prime Minister announced that as part of Network North, this vital corridor will finally see the investment it needs, which will mean a 30% improvement in journey times and, as Midlands Connect found in its recent report, the potential to generate £12 billion for the economy.

Further investment in our region will allow the world-class businesses based here to expand, develop and unleash the potential of new green technologies. New hydrogen engines are being developed, which will be used in passenger transport and heavy plant machinery of the future. I pay tribute to the work being undertaken by Staffordshire County Council to promote the region as the UK’s hydrogen valley, and I look forward to working with Ministers through this Parliament to deliver these improvements at pace and realise the benefits of economic growth for my constituents and those who live and work in the area.