Spending Review 2020

Lord Inglewood Excerpts

Thursday 3rd December 2020 Grand Committee

[Lord Inglewood (Non-Afl) [V]]

My Lords, looking across the northern business landscape, as I do, from the perspective of chair of the Cumbria Local Enterprise Partnership, the prospect is not cheerful. But the spending review is a start—a real start—on the road to employment and prosperity, which are two sides of the same coin.

Having said that, it is far from a complete solution by itself. Levelling up is hugely important and welcome, and infrastructure projects will play a part—albeit a relatively straightforward and visible part—of a much larger, more complicated and less obviously visible process of dealing with the consequences of Covid-19 and the implications of the end of the Brexit transition period. Whatever the latter may bring, there is agreement across all ranges of opinion that there is going to be real economic turbulence and upheaval, likely in many cases to be exacerbated by the existential implications of Covid having taken focus away from both its problems and its opportunities. As I have said on a number of occasions, if you are in a shipwreck, saving your baggage is low on your list of priorities.

My concern in these remarks, based on my own observations and experience, is the plight of small businesses—one-man bands, family businesses with an employee or two: that part of the economy. They do not have sharp-suited, smooth-talking lobbyists in Whitehall and Westminster. Present initiatives do not appear to be reaching them as hoped. These businesses and families are the bedrock of this country. Many have been ruined or enormously damaged financially; they are frightened by what lies ahead and their morale is low. They need the economic equivalent of what the National Health Service is giving Covid patients; they need genuine, relevant assistance and support, based on actual experience and a pragmatic understanding of the real world, not academia, think tanks or governance and administration—and they need it now. The impact of what is happening will last for years, if not decades, and the survivors of this unprecedented chapter in our history will be the launch pad for the next stage of recovery. The cure for the public finances must not be allowed to kill them, because each and every survivor is part of the future, and we need every one.

[The Deputy Chairman of Committees (Baroness Garden of Frognal) (LD)]

save-line3The noble Lord, Lord McKenzie of Luton, has withdrawn so I call the noble Lord, Lord Sheikh.