Growing the UK Economy

Neil Hudson Excerpts

Wednesday 29th January 2025 Commons Chamber

[Darren Jones]

These partnerships with the national wealth fund are crucial to ensure that local entrepreneurs, businesses and investors have access to the services provided by the Government. Too often, it is only people who know how the system works or who know the people involved who can get deals done, which means that people, especially in the regions, have historically lower levels of investment than companies, in particular in London. That is why we want to ensure the door is open to entrepreneurs and investors in areas of high growth potential, including in Leeds, so they can get their businesses growing and delivering for the UK economy.

[Dr Neil Hudson (Epping Forest) (Con)]

It has been interesting listening to the statement on growing the UK economy, when everything the Labour Government have done so far is having the exact reverse effect. In Epping Forest, businesses and vital services are talking about job losses and a freeze in recruitment due to the jobs tax, while across the country, family farms and businesses are worried about their futures, with the Government’s heartless inheritance tax policies, children are having to move school and some independent schools are having to close due to the punitive school fees policy. When will this Government admit they have got things wrong and, for the sake of opportunity and growth, reverse their ill-judged policies?

[Darren Jones]

Just to reassure the hon. Gentleman, I will point to three things he may wish to look at: in its long-term forecast, the OBR forecasted growth increasing in this country, unlike what he has said; the International Monetary Fund has just upgraded the growth projections for the UK; and PwC just released a report showing that for the first time ever, the UK is the second most investable country in the world. I hope the hon. Gentleman welcomes those things.