Autumn Statement Resolutions

Debate between Paula Barker and Kevin Hollinrake

Thursday 23rd November 2023 Commons Chamber

[The Parliamentary Under-Secretary of State for Business and Trade (Kevin Hollinrake)]

As someone who was in business myself, starting and scaling up businesses for 30 years prior to entering Parliament, it is a privilege to open this debate on behalf of the Government.

For any ambitious entrepreneur, “growth” is the most exciting word in the lexicon. The Chancellor’s autumn statement contains 110 separate measures to help businesses achieve exactly that. It will help to close the UK’s productivity gap by boosting investment by £20 billion a year in a decade. That is why I am wholly unsurprised by the positive response it has received from some of our most prominent business organisations.

The Federation of Small Businesses described the autumn statement as “game-changing”, adding:

“The Chancellor and his Treasury team deserve credit for driving pro-small business change and…acting to help build future prosperity.”

UK Finance said the autumn statement

“demonstrates a continued commitment to growth”.

And the manufacturing trade body Make UK said:

“This was a bold statement by the Chancellor who has”—

delivered—

“a transformational strategy designed to turbo charge investment.”

As the Chancellor rightly said, this is indeed an autumn statement for growth, but it is also clearly an autumn statement for business. I am very proud that my Department has been at the heart of developing these measures, which will have such a profoundly positive impact on this country. Our autumn statement will enable businesses to confidently invest in their futures. It will cut their costs through lower taxes and strip away burdensome red tape. Any of these measures in isolation would be a reason to be cheerful, but taken together, and alongside measures from the spring, they are expected to permanently increase the size of our economy, raise investment, reduce inflation, increase GDP and get more people into work.

On this side of the House, we know that the best way to grow the UK’s finances is not to embrace big government and high spending, but to boost businesses and boost competition—this is the so-called “supply side” of the economy. We will provide our innovators and risk takers with the right infrastructure, regulations and support, so that they can lead this country to greater prosperity.

As the Chancellor said yesterday, every big business was once a small business. For me, those words could not ring more true. This House will know about my passion for promoting the entrepreneurs, start-ups and independent shop owners that are the life and soul of our communities and economies alike. These businesses need investment so that they can flourish. They need freedom from overly burdensome taxes and regulations so that they can grow.

[Paula Barker (Liverpool, Wavertree) (Lab)]

I am delighted with the feedback that the Chancellor has received from businesses, but analysis by the Resolution Foundation finds that households will be £1,900 poorer at the end of this Parliament than they were at the start of it. That means people in our communities have less to spend in these businesses. So is it not the case that families are worse off under this Government?

Draft Trade Union (Levy Payable to the Certification Officer) Regulations 2022 Draft Trade Union (Power of the Certification Officer to impose Financial Penalties) Regulations 2022

Debate between Paula Barker and Kevin Hollinrake

Tuesday 25th January 2022 General Committees

[Paula Barker (Liverpool, Wavertree) (Lab)]

I declare an interest as a member of Unison and Unite the union. Does my hon. Friend agree that those on the Government Benches are treating trade union members as if they are not taxpayers in our society? They are taxpayers—

[Kevin Hollinrake]

Not all taxpayers.

[The Chair]

Order. Carry on.