Business and the Economy

Oliver Dowden Excerpts

Wednesday 21st May 2025 Commons Chamber

[Andrew Griffith]

My hon. Friend makes exactly the right point about that triple whammy, and about the cumulative effect of changes and the consequences—potentially unintended—that manifest themselves most acutely in industries such as UK hospitality and retail, which have the great virtue, among many others, of contributing to the character of the places in which we live and giving so many young people their first step on the ladder of opportunity and their first experience of work. Without those businesses, it will be inexorably harder for young people. That is one reason that it is of such great concern that the number of people employed on payrolls under this Government has already fallen by 100,000, with a faster rate of decline in the first quarter of this year. This Government are perfectly positioned to achieve the unbroken track record of every Labour Government in modern history of leaving office with unemployment higher than when they started.

[Sir Oliver Dowden (Hertsmere) (Con)]

Does my hon. Friend agree that another factor that will undermine job creation and employment under this Government is their approach to international wealth coming into this country? When other countries, such as the US, are granting golden visas, we are closing the door with these ideologically-driven non-dom reforms, which will not even raise any money. If the Government want to increase job opportunities, they should take the chance at the next Budget to reverse that foolhardy policy.

[Andrew Griffith]

My right hon. Friend is exactly right. He will correct me if I am wrong, but as I understand it, one millionaire is leaving our wonderful country every 45 minutes. That is to say nothing of a generation of young people who are yet to have their opportunity. How tragic it would be to think that young people see greater opportunity—notwithstanding their birthright of being born in this wonderful country—in other parts of the world than is present on their doorstep, in their communities and in the heart of their families.

It has to be said that this Government’s combination of actions are sending a clear and regrettable message to those who seek to create wealth: “Don’t bother. Don’t even try.” This socialist Government do not want people to succeed. There could be no better example of that than the vindictive family business and family farm death tax, which will carve up successful businesses as and when they are handed down to the next generation.

Why do we think this vindictive policy exists? One of the more benign interpretations, to be charitable, is simply the dearth of business experience in the Labour Cabinet. It has to be said, though, that the Cabinet members are world-class in their understanding of, and potential avarice in relation to, trade unions. Perhaps that is why the Secretary of State, who has not deigned to be here with us today, is currently undertaking the most expensive work experience placement in history at taxpayers’ expense at British Steel in Scunthorpe.

It is not just that this Government do not understand the mechanics of business; they do not understand and value the principle of business. Running or investing in a business at its core is a profound act of human courage—the triumph of optimism over inertia, and a mindset of someone solving problems themselves rather than waiting for permission from others. It is about embracing risk knowing that there are no guarantees, no bail-outs and that no one is coming to the rescue. When enterprise succeeds, such people create the wealth that funds our public services.

Every time a Minister dispenses money and largesse in Whitehall, as this Government are doing at record velocity, they can do so only because a founder, an entrepreneur, or a businessman or businesswoman, took that leap. It should be the Government’s job to get out of their way and to help the business builders, not the blockers, but this Labour Government understand none of that. Instead of leaving business to get on and flourish, they have erected a blockade of bureaucracy and taxes that they promised would never come. They have declared war on employers across this land from the ramparts of Westminster.