Backing Business to Create Economic Growth

Lindsay Hoyle Excerpts

Monday 18th May 2026 Commons Chamber

[Peter Kyle]

To clarify, I am talking about how we recover from the scars of the 1980s, how we learn the lessons, and how we ensure that we never repeat mistakes that cause scars that endure for generations. To answer the hon. Gentleman directly, we will align with the European market only where that is in the national interest.

We cannot turn back the clock to build future success. The partnerships that this Government have built with businesses, local government and trade unions are delivering resilient growth and helping to build a stronger economy. They are building a fairer country, in which wages are up and public borrowing is down. There have been six interest rates cuts and 500,000 children are being lifted out of poverty. The FTSE 100 has reached historic highs, and the UK is raising more venture capital funding this year than France, Germany and the Netherlands combined.

This Government faced enormous challenges on taking office, and the conflict in the Gulf presents us with even greater challenges. Despite that, we are making progress. It will take time for the benefits of progress to be sufficiently seen and properly felt. The recent election results show that. The only sure route to proving the benefits of change is growing the economy, and the only certain way to grow the economy is through British business success. Our task is to create the right conditions for Britain’s businesses to invest, succeed, and win in an increasingly competitive global marketplace. We have made a start, and we will see this through to the finish.

[Mr Speaker]

I call the shadow Chancellor of the Exchequer.

--- Later in debate ---

[Paula Barker]

On a point of order, Mr Speaker. My understanding is that if an hon. Member wishes to mention another hon. Member in the Chamber, they are supposed to give advance notice of that. I have received no such notice.

[Mr Speaker]

That is not the case. A Member should be informed if they are not here, but the hon. Lady is sitting here, quite rightly, and I am sure that the shadow Chancellor is ready to give way immediately.

[Sir Mel Stride]

I am always ready to give way, Mr Speaker, and to take your direction.