(2 years, 5 months ago)
Commons ChamberIf it was as straightforward as that, the answer might be simple, but it is not—[Hon. Members: “Yes it is!”] No, it is not. The energy market is extremely complex, and there is a whole raft of charges. It is not true to say that Scottish consumers are hit particularly hard, as Scotland is also a net exporter and English and Welsh consumers are paying for it. The Government are absolutely focused on helping consumers with the cost of energy through the £9 billion relief announced in February, the £5 billion announced last week, the extra money for the warm home bonus and all the support mechanisms for the vulnerable. It is not simply a case of constantly tinkering with market price.
Nuclear energy is crucial in providing low-carbon baseload power, which, over the long term, assists in reducing our reliance on fossil fuels and our exposure to volatile global prices. We will continue to emphasise the vital role of the nuclear sector, including in the forthcoming energy supply strategy.
Our very own atomic kitten, my hon. Friend the Member for Ynys Môn (Virginia Crosbie), and I are going on a road trip to Hinkley Point C. When I did my research for the visit, I noticed that £5 million-worth of business opportunities had been realised by 36 companies in the west midlands, including three in my constituency, on the back of Hinkley Point C. Does the Minister agree that our investment in nuclear energy is not just about clean energy but about the supply chain opportunities that it will bring to small and medium-sized enterprises and manufacturing in my constituency?
My hon. Friend is right to emphasise not only the importance of nuclear in concept but the huge significance of the supply chain, which is estimated to support more than 60,000 jobs across the whole of the United Kingdom, including in SMEs in Stourbridge and Ynys Môn. And if I may shove in my knowledge of early 2000s pop music, we are working hard to make the nuclear industry whole again. [Laughter.]
(2 years, 7 months ago)
Commons ChamberTime and again, I and other Members on the Conservative Benches have risen to oppose motions such as this from an Opposition who believe £407 billion in support throughout the pandemic has not been enough. At every turn, they have sought to undermine the measures that the Government have put in place to support businesses, and they have had the temerity to do so with no costed plan of their own. Instead, we must all wait for the Leader of the Opposition’s costed manifesto at the next general election.
Of course, it would not be the Labour party if there were not already a few uncosted measures thrown around here and there. One example was scrapping business rates, which was announced jubilantly by the shadow Chancellor at the Labour conference, only to be watered down later, probably because Labour eventually worked out that it did not know how it would pay for that. Perhaps it would do so by raising corporation tax, income tax or stamp duty or by more borrowing. It would give with one tightly pinched palm now but take with heaped handfuls later.
I am of course happy that these motions give me the chance to outline how Stourbridge’s businesses and employees have benefited from a Conservative Government managing this pandemic. As Conservatives, we believe that private sector innovation is the key to a strong economy. We do not just believe in it, however; we deliver it. Since 2010, over 1 million more businesses in the private sector have been created across the UK thanks to this Government’s policies. In the west midlands alone, over 50,000 more businesses have been established since 2010, thanks to this Government.
The Opposition’s motion today makes the astonishing claim that businesses have been affected by low growth. That is simply not true. The UK is the fastest-growing economy in the G7, with almost 6% growth in the first three quarters in 2021. The Conservative Government’s management of the pandemic, coupled with our exceptional economic growth in private sector innovation, has benefited working people too. Nobody would deny that businesses have experienced one of the toughest environments in a generation, but billions of pounds of loans and grants have kept the economy moving. Economic growth has not been disrupted as expected, and the labour market came back strong. It is a labour market that has seen 61,000 new jobs created since March 2021 in the west midlands alone.
Our economic plan is working: employment is up, growth is up and businesses are starting to make a recovery. It was this Government who promised my constituents that we would do whatever was needed to provide security and stability, and that applied to the businesses too. This is a Government who encourage business investment, innovation and productivity, and who are giving every business the opportunity to grow and innovate. It is a Government who are bold and committed to building back better.
(3 years, 3 months ago)
Commons ChamberIn my business engagement, I have been lucky enough, I suppose, to meet the CEO of pladis, the McVitie’s operator. I am not particularly aware of the specifics of what the hon. Gentleman has just informed the House, but I would be very happy to speak to him and others to see what we can do to ensure that the situation is improved. The business seems open; I had a good conversation with the CEO, but I would like to hear more about the specific details of that plant.
I thank my hon. Friend, and I wish I’m Lucky all the best for the future. Over the past year, I have met a number of businesses that have opened either at an unfortunate time—just going into a lockdown—or possibly at a fortunate time, as they steal a march and pivot into new business areas. Growing those small and medium-sized enterprises is really important to levelling up. We have already provided over 1,000 start-up loans worth £11.8 million this year. We are reducing employment costs by up to £4,000 through the employment allowance and supporting skills through apprenticeships. The strengthened prompt payment code ensures that those small businesses will get paid within 30 days.
(3 years, 5 months ago)
Commons ChamberCovid-19 has had a catastrophic impact on our economy, but I truly believe that, despite that, it will provide the architecture for change and fertile ground for innovation. We have already seen the homeworking revolution, the pace of digitalisation ramping up, the incredible speed of vaccination—from creation to roll-out—and the seeds of transformation in our NHS, with new ways of working and the largest diagnostic network in British history. While we have had big collapses in sectors such as retail and hospitality, we have evolution and growth in others, including construction and social care. This is the fastest changing jobs market for a generation.
To ensure that this pandemic does not define a generation, we should look forward and look for new economic opportunities with confidence and optimism. This Budget helps us do just that. It sends a strong message of recovery, unveiling major tax incentives for businesses to invest. This is the Budget with the biggest business tax cut in modern British history, with the introduction of a super reduction in tax bills, which is particularly welcome in the manufacturing heartlands of the urban west midlands. This is a Budget that is investing in public and private projects to finance the green industrial revolution. I also loudly applaud the eight freeports, which will encourage free trade and bring investment to all regions of the country through lower taxes and cheaper customs.
We should not treat this Budget in isolation from other important investments. The Government had the foresight to invest in innovation, with the £800 million investment in the advanced research and innovation agency. The agency will be tasked with empowering some of the world’s most exceptional scientists and researchers to turn incredible ideas into new technologies, discoveries, products and services, and it is welcome to put its roots in my constituency. I also welcome the £500 million being pumped into the electric car revolution, which will benefit the west midlands enormously.
This Budget is the largest economic peacetime support package on record, and it fits with my agenda of jobs and investment in my constituency. As a result of the Government’s interventions, unemployment is now estimated to peak at far lower levels than previously expected. This Budget is providing a lifeline for my businesses in Stourbridge.
I welcome this Budget, which stands by the workers and businesses in my constituency and which stands by to protect people’s livelihoods. It is a Budget that encourages investment and innovation and that recognises the need for transformation. We have seen human tragedy in 2020. We must not let that be the prelude to an economic tragedy. This is a bold Budget, providing the architecture for a better future—a Budget that is taking unprecedented action to drive our economic recovery.
(3 years, 7 months ago)
Commons ChamberThe Secretary of State has been very clear: we are not going to lower the standards of workers’ rights. There is no plan to do so—there is no doubt in this area—so where is the debate?
We have one of the best workers’ rights records in the world—rights that go much further than the EU’s—and high standards that were never dependent on our membership of the EU. The whole point of leaving the EU and acting as an independent country is that it is now up to the UK Government and elected MPs to decide what rules should apply—rules that work best for the UK, including on policies that strengthen protections for workers. The Government’s 2019 manifesto is clearly committed to raising workers’ rights’ standards. We expect all employers to treat their workers fairly and we condemn strongly the use of fire and hire as a negotiating tactic.
Seizing the new opportunities available to us outside the EU is exactly the reason why we left it. We wanted the flexibility to make our own decisions on how best to uphold our high standards, reinforcing our role as a global leader in areas of labour.
We should not forget that our flexible, dynamic market has increased employment levels. The UK has had the third lowest unemployment rate among the G7, which I am incredibly proud of, having seen unemployment when I was a young adult at its highest.
There was no need for a debate on this issue today. Debates such as these prey on people’s lives for the sole purpose of a social media clip for a political soundbite. We should all be working together and debating together on our plan for jobs and the road to recovery, spreading the good news about the fantastic kickstart scheme getting young people into work, keeping people in jobs, and giving people the confidence that while, yes, this pandemic has ruthlessly undermined both our national and personal economies, there is a route out of it.
This is the Government of the worker, and never more so than now. This is the time to come together for the sake of people’s livelihoods and jobs, and to allow this great and united nation to rise quickly above the mire of devastation the pandemic has inflicted on our jobs, the economy and people’s lives.
(4 years, 1 month ago)
Commons ChamberI totally understand, as Minister for London, that many theatres in the middle of London also require that support, but for provincial theatres around the country, we really do need to make sure that we can attract audiences back. That is why we are looking forward to working with theatre groups to have pilots for events so that when they are able to open, people can come safely and enjoy the performances that they have to offer.
Through the Business and Planning Bill, we are simplifying reliefs and the costs to cafés, pubs and restaurants of obtaining a licence to allow for outdoor dining. The Chancellor has also announced a six-month temporary VAT rate reduction from 20% to 5% for the hospitality, accommodation and attraction sectors. Both these measures should help to provide a welcome boost for business.
My constituency is known for its culinary delights such as the fantastic Butterfingers Deli, and Balti Bazaar in Lye, not forgetting its equally fantastic independent local pubs. Does my right hon. Friend agree that it is crucial that we encourage customers to get back to our pubs and restaurants to support our local economies and get our economic engines firing again?
My hon. Friend is absolutely right. We need to get out there supporting our pubs and restaurants. The Eat Out to Help Out scheme operating during August is another great incentive to support participating restaurants, cafés, pubs and other food establishments. Al fresco dining midweek in balmy August weather should be a must for all of us.
(4 years, 5 months ago)
Commons ChamberWe are committed to supporting the retail sector, and we are working closely with the industry through the Retail Sector Council. As the Under-Secretary of State for Business, Energy and Industrial Strategy, my hon. Friend the Member for Sutton and Cheam (Paul Scully), noted in reply to a question earlier, we are supporting high streets with the £1 billion future high streets fund.
We are committed to securing investment for a UK gigafactory to support electrical vehicle manufacturing. Indeed, last week, I met Andy Street and Ralf Speth, who is the chief executive officer of Jaguar Land Rover, to discuss their thoughts on this matter. We recognise the strength of the west midlands, where £138 million has already been invested in the UK Battery Industrialisation Centre scheduled to open near Coventry this summer.