Business of the House

Richard Tice Excerpts

Thursday 16th October 2025 Commons Chamber

[Sir Alan Campbell]

I wish my hon. Friend’s AI national conference well. I hope that Ministers have listened to his request for attendance and support; I am sure that they will look to see whether that is possible. He is absolutely right when he says that business is crucial to making this a success, as are organisations across the community.

Typically, my hon. Friend has hit the nail right on the head: AI is the way forward and there is no doubt that it is crucial to the economy that we seek to build, but it has to be a fair economy. It has to work not just for some people, but for everyone. I share his concern, not about the new jobs coming in—that is understandably good news—but about the communities that he represents. I know his constituency pretty well, and we need to ensure that those communities are beneficiaries of AI as well. I am sure that there will be a lot of interest in any Backbench Business debate, whether he wants to call one soon or to come back and report on the success of his conference.

[Richard Tice (Boston and Skegness) (Reform)]

Three weeks ago today, I met the Governor of the Bank of England to discuss the important decisions around quantitative easing and quantitative tightening, and the Governor agreed with me that this is actually a fiscal matter. It is triggering losses of tens of billions of pounds for the taxpayer every year, and therefore the Governor would welcome more input from the Houses of Parliament on this important matter. I wrote to the Chancellor—copying in the Leader of the House—to request a debate before the Budget, because if this House had a debate and voted on a different decision to guide the Governor and the Monetary Policy Committee, it would actually help the Chancellor in her difficult decisions around the Budget.

[Sir Alan Campbell]

I am sure that the hon. Gentleman is trying to be helpful, so I will take him at his word. On having a debate on these matters, he raises important points. I suggest that he should be the one calling for a debate. If there is to be a discussion about economic policy in the run-up to the Budget, there are various avenues by which he can call for that and make his points. It is not unusual in this situation—we are a number of weeks away from the Budget—but the Chancellor is working extraordinarily hard to come up with a Budget that not only repairs the damage to our economy that we inherited, but puts forward a plan for the future. To some extent, the ball is in the hon. Gentleman’s court, should he seek a debate.