Charter for Budget Responsibility

Matt Rodda Excerpts

Wednesday 29th January 2025 Commons Chamber

[Matt Rodda (Reading Central) (Lab)]

It is a great pleasure to speak in the debate and something of a privilege to be the only Back-Bench speaker. I shall make a series of points, including welcoming the Chancellor’s commitment to growth and the announcements that she made today before moving on to a number of other areas.

I commend what the Chancellor said this morning in Oxfordshire and, in particular, what she said about the importance of investment in infrastructure for the long term, whether in transport, new powers to streamline the planning process or indeed attracting more tech investment to the UK. My Reading Central constituency and the whole of Berkshire benefits enormously from such investment, so I wholeheartedly welcome her announcements and commend her for her work on that.

If I may, I will somewhat cheekily ask the Chief Secretary to take a few points back to the Chancellor. In our area, we are looking for further investment to drive economic growth. I will highlight a couple of points of local importance. In particular, the western rail link to Heathrow scheme is supported by all Berkshire MPs and colleagues from across a much wider area. Heathrow airport is unusual in being a hub airport in western Europe without a rail link in both directions. A number of local authorities, parliamentary colleagues and the rail industry have pushed for this measure, which, compared with some points discussed in the Chancellor’s speech and more widely in the House this afternoon, would require only modest investment. A short stretch of railway line from Langley, just outside Slough, into the airport, where space for a station already exists, would significantly cut journey times for workers at the airport, commuters and many others, and attract business to Berkshire. The scheme is supported by local business groups.

To give an idea of the importance to Reading, at the moment it takes around 50 minutes from Reading station to travel to Heathrow by bus, but it would be just 15 minutes with a rail link. Many of the firms relocating to the Reading area from across the country would be encouraged further by that and have far greater connectivity to international markets through swift access to Heathrow. Equally, it would appeal to inward investors coming to our part of England. There would be an additional benefit—the Chief Secretary may know well know about this—for travellers from the west of England and south Wales in vastly speeding up their journeys to Heathrow airport. I want to flag that up to him.

May I ask the Chief Secretary to relay to the Chancellor my wholehearted support for the Oxford-Cambridge corridor? The area that I represent sits at the south-western edge of that corridor. Given the excellent rail and road connections between Reading, Berkshire and Oxford—it takes as little as 25 minutes to get from Reading town centre to Oxford city centre by rail—that route could extend the corridor, which will run through Northamptonshire and Bedfordshire, as the Chancellor highlighted. Indeed, the rail corridor into Berkshire and through southern Oxfordshire passes Culham, an area of significant science investment that was formerly the site of the UK and Europe’s Joint European Torus project. It also runs through Didcot, which is a major centre of inward investment, as well as to Reading. There would be enormous benefit to residents and businesses in Oxfordshire and to businesses in Berkshire if that were seen as a whole, rather than the line stopping in Oxford. I hope that he will take that back to his colleagues.

I appreciate that many colleagues may want to speak later on the welfare cap motion, so I will limit my remarks and not stray too far. I would, however, like to describe some of the benefits to the Berkshire local economy of the stability that the Chief Secretary outlined. We have a fundamentally strong local economy; we are lucky to have high levels of growth relative to other parts of the UK. We face the same challenges as areas from across the country, which he outlined earlier: the importance of stability and long-term investment, and making sure that businesses understand that there is stability so that they invest and spend their own money creating jobs.

Let me draw out some examples from local businesses. I represent a constituency that has high tech and telecoms employment. Something like 300,000 people work in those sectors in the county of Berkshire. In Reading, there is a significant cluster near the station, which has been fostered not just by the rebuilding of the station but by Reading being the western terminus of the Elizabeth line. That has led to a significant number of employers moving to the town centre. It is a good example of the benefits of investment that the Chancellor talked about earlier, and of the importance of high-speed rail and other improvements to rail and public transport, to connect major centres of employment and allow employers to recruit from a much wider pool. That is exactly the message I have been told when visiting employers in that area. They have based themselves near the station because they can access a much wider pool of workers with higher levels of skill, and that drives productivity and growth in their business. There are strong local examples which, at microeconomic level, make the point that the Chief Secretary has made today.

Let me also draw the House’s attention to the importance of education, which the Chief Secretary hinted at, to managing public finances. In my experience, having a university in the constituency is a huge driver of economic activity, particularly for creating a skilled workforce, who often wish to remain in the constituency. That is certainly the case for many places the Chancellor described in her speech, particularly the great university cities of Oxford and Cambridge. It also applies to London and many other centres such as Manchester.

Higher education is central. It must be linked with employment and offer the right programmes to attract a wider range of young people into higher education. It was a privilege to meet staff at Reading University recently. They briefed me on some of their work to encourage young people from families who traditionally might not have thought about going to university to consider higher education at their local university. That is an important part of the bigger picture. I commend the Chief Secretary for his wider approach on the importance of investment and stability linked to investment, in transport infrastructure, as well as IT and tech infrastructure such as data centres, and a range of other forms of infrastructure.

Let me move on to some of the points made earlier. It is important to note that we are at a turning point. We have had a long period of low growth. The Government are right to make growth their top priority, to move on from 14 years of historically low growth compared with the UK average over the past 40 or 50 years and going back to the industrial revolution. The Chief Secretary rightly made the connection between growth and investment, and so did the Chancellor today.

I welcome and wholeheartedly support the Chancellor’s emphasis on releasing pension savings to drive economic growth. That has been a successful policy both in Canada and in Australia. Although they are much bigger countries and have more natural resources, they have significant similarities to the UK—the benefit of English common law and many other historical advantages of our system and history. There are some important points to be made on that front. Above all, we must avoid the mistakes of recent years—the instability, the disastrous mini-Budget, the gambling with public finances and the lack of transparency.

The Chief Secretary is right to commend this charter today. I will draw out two particular points to flag to the House that I think are vital. The first is reporting on capital investment, which is an important measure in the charter. The second is in-year pressures, which, from the point of view of managing public finances, is vital. As he rightly said, it will allow policymakers much greater insight into what is happening in near-real time, which is important in avoiding future problems. I commend those measures.

In summary, the macro-level changes that we have described today will do a great deal to support my local small business, as well as larger investors coming into my constituency. I wholeheartedly support and welcome the measures set out today, and I am grateful for the opportunity to speak.

[Madam Deputy Speaker (Judith Cummins)]

I call the Liberal Democrat spokesperson.

[Daisy Cooper (St Albans) (LD)]

The charter for budget responsibility is at the heart of the OBR’s function, setting the Government’s fiscal rules, as well as the OBR’s broader remit and how it is to perform its duties. It is important to stress just how vital the OBR is for the sound management of our public finances and for the UK’s economic stability.

I am very proud that the OBR was set up during my party’s time in office, and the Liberal Democrats have backed it at every turn since. In our most recent general election manifesto we said that every fiscal event should be accompanied by an OBR report, and we are pleased that this Government are taking the same approach. We also called on the Government at the time to establish the OBR to assess general election manifestos independently.

Unfortunately, commitment to the OBR as an institution cannot be taken for granted, as we have seen over the past few years. We saw Liz Truss’s Conservative Government sideline the independent watchdog at the mini-Budget and cast doubt on its forecasts at every turn. Equally unfortunately, we all witnessed the consequences: soaring interest rates, sky-high mortgage bills and a spike in the cost of servicing our national debt. We Liberal Democrats are crystal clear that we can never have a repeat of that debacle.

[Matt Rodda]

The hon. Lady is making an excellent speech. Will she also reflect on the disastrous impacts on pensions savings, and particularly on people who were drawing their defined contribution pensions at that point in time? Some of my constituents had awful experiences, which they relayed to me.

--- Later in debate ---

[Darren Jones]

That is a great question. All these infrastructure opportunities will go through both value-for-money assessments and growth assessments. The argument that we have been making today is that initiating projects such as the East West Rail line in a co-ordinated way with private capital, universities and our house building plans lifts the growth opportunities that come from those projects. That is why Patrick Vallance has been appointed as the champion of the growth corridor. We will take a whole-corridor view on the investments and the opportunities across different investments, regardless of whether they are public or private, but they will all have to go through value-for-money and growth assessments.

The infrastructure strategy will be a 10-year strategy. It will give a long-term view on economic, housing and social infrastructure, but they will be underpinned by longer-term capital budgets. The capital budget that we will set in June will be for four years, until 2029-30, but the normal approach, as set out in the charter, will be that the capital budgets will be for five years. As the House knows, we have committed to doing the next spending review every subsequent two years. In 2027, when we conduct the next spending review, we will have the 10-year infrastructure strategy but also pretty much 10 years of capital budgets being allocated for those projects. That is a hugely important signal to investors.

We are working with industry and investors on what the biannual pipeline might look like, so that we can publish in real terms the investable propositions, but also so that businesses know that work is coming if they invest in their supply chain or their workforce. That is a crucial part of unlocking investment in skills and training in our country. Much like we have just seen in the water industry, which has agreed a longer-term investment settlement, suppliers are already telling us that they are now able to invest in staff, training and capabilities, because they know that the flow of investment will be coming over a period of time. We are seeking to do that across a range of infrastructure in order to unlock the investment that this country needs.

[Matt Rodda]

I should like to ask my right hon. Friend some further questions on the points he is making. The Elizabeth line demonstrates the case that he is making for the importance of place-based investment and the way in which houses, flats and businesses have been built near stations. There has been a combination of public and private investment in the project, which is arguably part of its success. So I welcome the points he is making about the longevity of the infrastructure investment, the role of the joint investment or co-ordinated investment with the private sector and, above all, the place-based nature of this. The role of Patrick Vallance, in particular, is an important one in that corridor. I would also urge my right hon. Friend again to look at the far ends of the corridor, both at the Oxfordshire and Berkshire end and also possibly towards Norwich and further into East Anglia. I know that a former Minister in the previous Government has been highlighting the potential benefits of investment along rail in East Anglia.

[Darren Jones]

I thank my hon. Friend for his intervention. He reminds me that the right hon. Member for Islington North (Jeremy Corbyn) asked me about broader reform to ensure that infrastructure is delivered differently from how it has been in the past, and I would point the House to the action that Ministers have already taken to call in projects that have been gummed up in the system for a long time, which we have allowed to take place, and also to the Planning and Infrastructure Bill that will be presented to the House in due course, which will show the level of ambition this Government have for streamlining planning and consenting processes so that we can get things built. As I have already mentioned, I think today in the House, the fact that we can build a house for someone in 14 to 16 weeks but it seems to take years to get planning approved shows the size of the prize for delivering for people across the country.

I will end by thanking the Liberal Democrat spokesperson, the hon. Member for St Albans, for her comments and for reminding the House why this debate matters and why the fiscal rules matter. Because, as we saw under the last Administration, this is not an obscure debate here in the House of Commons, or a kind of Whitehall guidance debate; this is important to people’s lives, because when Governments lose control of the economy nationally, it hits family finances.

We all know from talking to our constituents how stressful it was when the Conservative party lost control of the economy and when inflation went through the roof. It had a direct impact on people’s mortgages and on their ability to buy a house. So many people lost their mortgage offers overnight because of the actions of the last Government. It also affected people in the private rented sector when their landlords increased the rent, and because no-fault evictions were allowed under the last Government, many people lost their homes. This fundamental insecurity in people’s lives stems from the actions of politicians here in Government.

That is why the fiscal rules are so important and why the Chancellor—and indeed the whole Government—are so iron-clad in their commitment to them. That is why the fiscal rules are non-negotiable. [Interruption.] Shadow Ministers on the Conservative Benches laugh, but I would encourage them to meet some of our constituents and to explain why their actions led to such hardship for them. I have not even started to talk about the cost of energy bills or the food inflation that we are still struggling with today, directly as a consequence of the mismanagement of the economy under the last Administration. The sooner the Conservatives—should they wish to receive advice from me—apologise for the consequences of their actions, the sooner the public might start to listen to them again.

But while they are listening to this Labour Government, I can reassure hon. and right hon. Members in the House today that the fiscal rules are non-negotiable. They are the bedrock of economic stability. They enable us to invest in our public services in a sustainable way, to secure growth in the economy and, ultimately, as set out in the Prime Minister’s plan for change, to deliver for working people so that they will know in the years ahead that life is better under a Labour Government than it is under a Conservative Government.

Question put and agreed to.

Resolved,

That the Charter for Budget Responsibility: Autumn 2024, which was laid before this House on 22 January, be approved.

Crown Estate Bill [Lords]

Matt Rodda Excerpts

2nd reading
Tuesday 7th January 2025 Commons Chamber

[Matt Rodda (Reading Central) (Lab)]

Thank you, Madam Deputy Speaker, for giving me the opportunity to speak in today’s debate. I wish to speak in favour of the Bill and to make a few brief points, both general ones about wider policy and some in relation to my constituency. I wish to cover the issue of the Crown Estate in central London. I shall then move on to the estate’s property around the coastline, and, finally, I shall come on to some of what I hope will be significant wider benefits of the just transition to a green economy.

First, on modernising buildings in central London, it is often forgotten that our built environment is one of the poorest in terms of energy efficiency across the developed world, including in Europe, and that we do need significant investment. We can obviously see that in the building in which we work. Many buildings in central London date from Victorian and Edwardian times, or the 1960s, when building standards were much lower than they are now. Indeed, there is enormous potential precisely because those building standards were lower—I am talking about issues such as solid walls, cavity walls that are not insulated, and existing single glazing or poor quality older double glazing that could be replaced with newer materials. That shows very precisely the potential benefits in carrying out this work.

It is important to remember, however, that this is in the nature of a one-off capital investment in the short term, which will lead to enormous benefits in the medium to longer term. Therefore, this type of measure, which was outlined so ably by my hon. Friend on the Front Bench, is exactly what is needed by many large landowners to allow them to have access to the capital that they need to carry out works that will improve building efficiency and therefore lead to energy saving. I welcome that, and it is important to remember the context of the built environment in London and across the country.

Secondly, let me move to the issues of the coastline. It is worth noting that the UK is a leader in offshore wind. We need to recognise the benefits of the past few years, particularly the move to the majority of British energy being generated by low carbon sources, particularly offshore wind. However, there is a need for a new, significant additional step up, which requires the mapping of new areas of seabed, new interconnectors, and new grid connectivity at the coast, because the whole of the grid at the moment is designed around a post-war model of large, coal-fired generation inland, so there is significant need for further investment in coastal locations. As my hon. Friend the Member for Exeter (Steve Race) mentioned earlier, some of that is not particularly well mapped, and part of the work that we are seeing allowed today is the ability of the Crown Estates to map much of its property on the coast or on the seabed more accurately, therefore allowing investment as well as supporting and regulating investment as well. I ask the Chief Secretary whether he could outline further detail of aspects of that, in particular the scope for the Bill to allow for and support more investment in interconnectors to other neighbouring countries, as well as more grid connectivity at the coast itself, which can be a bottleneck for renewable energy coming onshore.

Thirdly, I would like to discuss some of the wider benefits of the Bill and ask some further questions. One of the big challenges with the move towards renewable energy is delays in grid connectivity. I have seen that in my own area when I visited a large solar farm next to the M4 motorway, just outside Reading in the seat occupied by my hon. Friend the Member for Earley and Woodley (Yuan Yang). The connection of this large solar array to the grid was delayed by a year because of a lack of capacity among energy companies and wider infrastructure challenges. I hope the Chief Secretary can provide some further detail on how the Bill will allow further acceleration of grid connectivity. I also hope it will add to the wider green energy economy and that the benefits accruing from it could be felt by some smaller onshore schemes.

I certainly ask the Chief Secretary if he could investigate the possibility for it supporting some smaller schemes. For example, in my area there is an innovative scheme to put a low-head hydro generation scheme on the Thames at Caversham. That generates power for several hundred homes. However, there were significant challenges in installing the scheme. Again, grid connectivity, access to capital and other practical issues delayed the project. Up and down the Thames, and other major rivers, there are many examples of sites that could be used for this straightforward, rapidly deployable form of renewable energy. I would appreciate the Minister writing to me if he is unable to comment directly today.

On a related matter, I hope that the Bill will in some way support the wider roll-out of solar on roofs and potentially on canopies over car parks. Both have enormous potential as deployable forms of solar that would have a limited impact on land use, and they may have real benefits through the ease with which they can be accessed. I look forward to getting further detail on those points. I warmly welcome the Bill and thank the Chief Secretary for his words.

[Madam Deputy Speaker (Caroline Nokes)]

I call the Liberal Democrat spokesperson.

Christmas Adjournment

Matt Rodda Excerpts

Thursday 19th December 2024 Commons Chamber

[Matt Rodda (Reading Central) (Lab)]

It is a great pleasure to follow the hon. Member for Keighley and Ilkley (Robbie Moore). Like him, I would like to continue the wonderful tradition of our late colleague from Southend and do a brief tour around my constituency of Reading Central, starting with a quick word about Reading football club, talking about Reading gaol and local art, and moving on to thank small businesses and charities.

The wonderful Reading FC is one of the longest established clubs in the English league, but sadly, because of poor ownership, it is currently languishing in league 1. The club has a glorious history, has had many great cup runs and holds the record for scoring the highest ever points total in the championship:106 points—99 goals— in the 2005-06 season. If I had one request for Santa, I would ask that Reading FC has a new owner for Christmas. I would like to see Dai Yongge pack his bags and head home, and a new owner, who can take the club forward, come in, invest in its future and get us back into the championship. Who knows, maybe we can get back into the premiership, in which we played for three seasons, over two stints? If we could achieve that, it would be truly wonderful and every child in Reading would be delighted; it would be the best possible Christmas present they could ever wish for.

Dai Yongge has had the club up for sale for a year and has turned down two bids. Sadly, he was associated with two overseas clubs that closed, so there is a great deal of concern from fans and other local residents about the future of the club. We have also lost the manager recently, who has moved to Hull City. I wish the new manager, Noel Hunt, well, but there are real concerns about the future of the club. I hope that Dai Yongge can listen, sell the club and move on.

On Reading gaol, we have better news. I wish the new owner, Reading borough council and Historic England well in their efforts to try to turn the wonderful former gaol into something special, by redeveloping it in a constructive way and providing a significant amount of arts provision in our town centre. Oscar Wilde was incarcerated in Reading gaol. It is an incredible building and a wonderful example of early Victorian architecture. If it were open to the public, it would prove to be an incredible visitor attraction. It was briefly open in the mid-2010s when Artangel held installation art and poetry readings in the gaol, which attracted thousands of people from across the country. Having the gaol as an arts hub would be worthy of our town; it has a very successful music festival and many other arts activities, but it does not have an arts venue of this type. I am campaigning for that and I look forward to success in the new year.

Finally, I cannot mention all the winners of my small business competition individually, but I thank them for their efforts in driving growth in our local economy, providing employment and making our town centre, and other local centres, vibrant places to visit, which shoppers and other residents much enjoy. I pay tribute to the many charities in the Reading area that do wonderful things at Christmas, and all year round, in particular Toys and Teens, which is a fantastic appeal that has made many children very happy at Christmas, and the many other wonderful local charities. I also thank all those working at Christmas, particularly those in our NHS, other emergency service workers and many others who provide vital services while we are all enjoying Christmas with our families.

Before I finish, I thank you, Madam Deputy Speaker, and your colleagues, all our colleagues across the parliamentary estate, including the Doorkeepers and the other staff who make this place such a wonderful place to work. I wish the public, especially residents in Reading, a very happy Christmas and a wonderful new year.

Finance Bill

Matt Rodda Excerpts

Committee of the whole House
Wednesday 11th December 2024 Commons Chamber

[Dr Sandher]

I thank the right hon. Member for his kind words. As he will know, the Government are fixing things for those who need special education—there is a huge amount we have to fix in this country—and he should remember the VAT exemption for those with EHCPs.

For those who cannot currently afford a decent life, the situation has become increasingly bleak. Non-graduates and young people are locked out of the opportunities their parents had. Before the 1980s, non-graduates could leave school and find good jobs with decent wages in their local factory. Then came deindustrialisation that destroyed mid-pay manufacturing jobs and led to a divided nation, where non-graduate men have seen their employment rates fall by 20 percentage points since then. Today, twice as many young men as young women are unemployed and we see the political shocks reverberate around us. Manufacturing jobs have been destroyed and replaced by low pay and insecure service jobs that do not pay enough to live on.

A couple with two children, both on average wages, do not currently earn enough for a decent living. On top of that, young people cannot afford the homes they need. Around 40% of my generation are living with their mum and dad.

[Matt Rodda (Reading Central) (Lab)]

May I also extend my congratulations to my hon. Friend on this wonderful day for him and his family? He is making an excellent speech. On the specific point about housing, can my hon. Friend say a little more about his vision? [Interruption.] He was coming on to housing. Can he speak, in particular, about the needs of young families? In many medium-sized towns and cities across the country, such as Reading, which I represent, there is a need for more affordable housing, both to buy and to rent.

[The Chairman]

Order. Can we ensure that the interventions are clearly related to the debate in hand? I have no doubt that the answer will be.

Finance Bill

Matt Rodda Excerpts

2nd reading
Wednesday 27th November 2024 Commons Chamber

[Alex Ballinger]

The right hon. Gentleman will have noticed that we reached record NHS waiting lists under the last Government, more than 7 million people waiting and many of my constituents waiting over two years. If he thinks the investment in the NHS by the last Government was enough, he is completely wrong.

Our roads are literally crumbling, working families are struggling and the hope of upward mobility is slipping further out of reach. We cannot let this continue. The Government are faced with what the Institute for Fiscal Studies has described as a genuinely difficult inheritance. The truth is that the last 14 years can be described as, at best, a period of managed decline; or at worst, wilful neglect. The last Government will be characterised as an Administration that allowed services to erode and future generations to be abandoned.

We must take a different approach and offer real change. We are not pretending that the work ahead will be easy, but we are determined to rebuild and restore. A key part of this recovery is investing in our most vital public services, especially the NHS, which cannot survive on good will alone. The Budget commits to injecting much-needed funds into our healthcare system, securing a lifeline for the NHS that will allow it to begin this recovery.

The Budget is also about presenting an offer to working people who have been neglected for so many years, including a rise in the minimum wage to boost the living standards of 3 million low-paid workers; NHS funding to support 2 million more operations, scans and appointments every year; fuel duty frozen for another year, providing relief to drivers and families; a £500 million investment to fund the construction of 5,000 more social homes; a significant increase in the carer’s allowance earnings limit, because those who care for our loved ones deserve our support; and a crackdown on tax avoidance, fraud and waste, ensuring that the super-wealthy pay their fair share of tax.

The decisions in the Budget, though some are difficult in the short term, are the right ones for the long-term good of our country. This is a Finance Bill that prioritises public services and working people without raising taxes on the majority. It is about restoring fairness, rebuilding trust and setting the country on a new path towards growth. It is also important to remember that fiscal responsibility is central to this Government’s approach. The IFS has praised the soundness of our fiscal rules, ensuring that our efforts to drive growth are sustainable and the public finances remain on a stable footing. Changing the fiscal rule to allow more investment is both sensible and necessary, and this investment will boost long-term growth.

The Bill is not just about recovery; it is about securing a prosperous future. Businesses in Halesowen have been struggling, especially on our high streets, where many have been forced to close their doors in recent years. I have heard the concerns of small business owners and the concerns shared by the Black Country chamber of commerce, and I am pleased that the Chancellor’s plans include support for high street businesses, including business rates reform, which will give local shops the chance to compete against tax-avoiding multinationals.

[Matt Rodda (Reading Central) (Lab)]

My hon. Friend is making an excellent speech highlighting a whole series of important points. I just wondered whether he was going to come to the cut in beer duty. I know there are a number of famous brewers in his area and this is an important measure for many brewing towns—[Interruption.] This is an important point for many brewing towns and many small, related businesses in that sector. I have a number of SMEs in my own constituency that will benefit from this, as well as pubs. Does my hon. Friend welcome this measure, as well as the important measures he has mentioned for small businesses in town centres?

[Alex Ballinger]

I welcome the 1p reduction in tax on beer. I have spoken to many businesses in my constituency’s hospitality sector, including many pubs, that are happy with this measure, which they hope will increase the footfall in our town centres and in their businesses.

I am also delighted that the Budget confirmed £20 million of investment in the redevelopment of Haden Hill leisure centre in Cradley Heath in my constituency, and £20 million of investment in Halesowen town centre, to redevelop what is becoming a difficult area.

The Bill will ensure that local assets that serve the community are protected and enhanced. It marks a turning point for our country, laying the groundwork for a better future. It is a plan that protects our public services, supports working people and puts the economy on a sustainable path. I fully support this Bill for Halesowen and beyond. It delivers hope, invests in communities and fixes the foundations of the economy, so that we can deliver the change for which the country voted.

Non-Domestic Rating (Multipliers and Private Schools) Bill

Matt Rodda Excerpts

2nd reading
Monday 25th November 2024 Commons Chamber

[Vikki Slade]

I agree with the hon. Member and thank him for his intervention. I was just about to say that we need a proper tech tax on online businesses, which should be ringfenced to stay in local communities, where councils could use it to support town centres in a way that works for them.

Many councils are not able to keep the business rates accrued in their areas; they are set externally and sent elsewhere to support other communities. That is not understood or even appreciated by local communities. I cannot remember the number of times that, as a local government leader, I was shouted at by people saying, “You’re making all that money as a council.” People think that the councils own the businesses and the properties and that they set the rates. The fact is, they are set elsewhere, and councils do not have the power to provide discounts without having to plug the gap not just for their own areas, but for what they send to Government. That is what real reform would look like.

[Matt Rodda (Reading Central) (Lab)]

The hon. Member is making some wide-ranging points. I think the Government’s policy in this area is excellent. I remind her that there are a range of other policies that local government can implement. I commend my own local council in Reading, where there has been a lot of work to try to keep local small businesses active in the town centre through planning and a range of other things. It is really important to work with the business community. Would she like to comment on that?

Oral Answers to Questions

Matt Rodda Excerpts

Tuesday 29th October 2024 Commons Chamber

[Matt Rodda (Reading Central) (Lab)]

T10. Can the Minister update the House on how the Government will help to secure better returns for pensioners while also unlocking the opportunities for pension savings to help generate growth?

[Emma Reynolds]

The Chancellor launched the landmark pensions review in July, which I am leading and which is looking at measures to drive more UK pension investment into the UK economy, boosting growth but also improving pension savers’ outcomes. I know that there is interest in this agenda across the House.

Fiscal Rules

Matt Rodda Excerpts

Monday 28th October 2024 Commons Chamber

[Darren Jones]

I am delighted to hear the hon. Gentleman tell the House that he welcomes the positive change that this Labour Government in Westminster are delivering to the Scottish people. I agree with him. On early announcements, I can point to GB Energy and the huge commitments we have made on energy infrastructure, which we know will be important to the Scottish people. We absolutely recognise that the Scottish economy has a huge contribution to make to the whole economy of Great Britain and Northern Ireland, and we look forward to working with the Scottish people to make that a reality.

[Matt Rodda (Reading Central) (Lab)]

I commend my right hon. Friend on his work on stability and investment. Would he like to say a little more about the challenging inheritance he has received from the previous Government, and just how dreadful that has actually been?

[Darren Jones]

I welcome my hon. Friend’s question. [Interruption.] I know that Opposition Members find it uncomfortable, but it is a matter of fact that we will return to time and time again, because the sheer truth of it is that the last Government made promise after promise to the British people, knowing that they did not have the money to pay the bills. It is shameful, and the sooner they come to the House and apologise for their behaviour, the better it might be for them in the long run.