Oral Answers to Questions

Sarah Olney Excerpts

Thursday 12th March 2026 Commons Chamber

[Mr Speaker]

I call the Liberal Democrat spokesperson.

[Sarah Olney (Richmond Park) (LD)]

Research from the Entrepreneurs Network shows that 54% of Britain’s 100 fastest growing companies have a foreign-born founder or co-founder. International entrepreneurs play a vital role in driving innovation, investment and job creation across the UK, yet this Government are recklessly introducing unworkable visa regulations for those very people. Since the Budget in October 2024, 110,000 jobs have been lost in the hospitality sector and 74,000 in retail, and 700,000 graduates are currently unemployed. Youth unemployment has just hit 16%. What impact assessment have the Government undertaken on the impact of their proposed changes to indefinite leave to remain on job creation, and what conversations has the Minister had with the Home Secretary regarding this damaging disincentive to those looking to build their businesses and create jobs here in the UK?

[Peter Kyle]

I am afraid that the hon. Lady describes the doom-laden Lib Dem world that she inhabits, not the real world that is inhabited by entrepreneurs and businesses right across the country. The reality is that 381,000 more people are in work since the start of 2025 because of this Labour Government. She may have missed the fact that my Department, under my leadership and this team, has set up the global talent taskforce, accompanied by a global talent visa. Around the world, we are out there hunting down the best talent, attracting people to the UK and aligning this endeavour with investment, making the UK the best place to invest, to grow and to scale a business anywhere in the world.

--- Later in debate ---

[Mr Speaker]

I call the Liberal Democrat spokesperson.

[Sarah Olney (Richmond Park) (LD)]

In the Q4 2025 quarterly economic survey, 52% of businesses reported utility costs as a pressure that is driving them to raise prices, and there is a particular impact on the hospitality sector. Recent research by the British Chambers of Commerce shows that more than a quarter of businesses will struggle to pay their energy bills over the next 12 months, and this survey was conducted before the recent escalation in the middle east. Last week’s forecast by the Office for Budget Responsibility also did not take into account any potential impact from the jump in oil prices triggered by the strikes in Iran. The fuel duty hike in September is already expected to hit families and small businesses hard, so will the Secretary of State speak to the Chancellor now about scrapping this damaging policy?

[Kate Dearden]

The hon. Lady will have heard in my earlier remarks that I absolutely recognise those pressures and meet hospitality businesses regularly to hear their concerns; energy costs have, of course, come up as one of the biggest pressures facing them. I recognise the concerns those businesses will have when looking at the Gulf conflict and its possible impacts. As the hon. Lady will have heard in my earlier answer, the real risk to businesses is dependence on the volatile international gas markets, which has left us exposed. She will know the work that we are doing in different Departments to recognise that and to tackle that root cause in order to provide better support for businesses. We are looking at the unstable energy markets that have left us exposed and trying to ensure that we have more power here in Britain; we will work with the sector closely and across Government on that.