Backing Business to Create Economic Growth

Martin Rhodes Excerpts

Monday 18th May 2026 Commons Chamber

[Martin Rhodes (Glasgow North) (Lab)]

Hon. Members across the House have already referred to the fundamental and structural challenges we face as a society and an economy. One that has been mentioned is the challenge around the rapid rate of technological change. That brings opportunity and benefits for many, but it also brings uncertainty and exclusion for others. It is a challenge that highlights the more general need for Government intervention to nurture and protect, for regulation that does not hinder but encourages growth, and for growth that is necessarily inclusive.

Because of the limits of time, I will concentrate on one area, the European partnership Bill, which will focus on rebuilding our relationship with Europe in this fractured geopolitical and economic world. Europe is our largest and closest trading bloc, and breaking down trade barriers with it will help businesses to grow, create jobs and ease cost pressures for UK households. I support these positive moves, prioritising trade, business and jobs above refighting past political debates.

That said, we should be more ambitious in aligning requirements for British businesses with EU standards where possible and appropriate. Many UK companies are already required to follow the EU’s corporate sustainability due diligence directive in order to trade with our biggest external market. We risk becoming a dumping ground for unethically sourced products, while UK companies—following best practice in order to trade with our closest and largest neighbours—are undercut by less responsible enterprises.

Some 50 leading businesses have already signed statements calling for human rights due diligence legislation, including brands such as Tesco, Twinings and John Lewis. Such legislation could promote more ethical consumption, allow companies to better manage risk and help British businesses to grow. The European partnership Bill is an opportunity to align our due diligence regime with EU standards. Following the responsible business conduct review, I hope that the Government might see the Bill as an opportunity to make those changes happen.

I am proud to support this Government’s agenda of regulating the market, so that it works for consumers and small businesses, and of putting fairness and dignity at the heart of our economic system. I welcome the proposed legislative measures in the King’s Speech to support good business, and over this parliamentary Session, I will continue to urge Ministers to take forward measures to ensure human rights and environmental due diligence in supply chains. The successful future of our economy, further growth in our economy and good-quality jobs can be based only on responsible and sustainable business practices, with strong workers’ rights and protections for consumers. I am confident that measures in the King’s Speech will build on legislation in the previous Session on delivering those goals.