Oral Answers to Questions

Debate between Terry Jermy and Peter Kyle

Thursday 30th October 2025 Commons Chamber

[Peter Kyle]

I am grateful for my hon. Friend’s work in this area, the conversations that he has and the insight that he shares with the House, as recently as today in his contribution. The responsible business conduct review will be critical to ensuring that businesses respect human rights, labour rights, the environment and anti-corruption measures across their operations and supply chains. I reassure him that, in the conversations that I have already had with international counterparts in the few short weeks that I have been in this job, these issues, including forced labour situations and workers’ rights, are raised. British values and the expectations we have as a country are raised with our international partners in trade talks.

[Terry Jermy (South West Norfolk) (Lab)]

3. What steps he is taking to encourage investment in businesses.

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[The Secretary of State for Business and Trade (Peter Kyle)]

We are delivering bold action to drive investment and growth nationwide. Our modern industrial strategy is cutting red tape, saving businesses nearly £6 billion a year, and unlocking quicker, simpler ways to do business. We are investing £6.6 billion through the British Business Bank to help innovative firms scale, and we are rebuilding our infrastructure with a 10-year strategy, backed by at least £725 billion-worth of Government capital, providing the certainty needed to boost productivity, secure growth and jobs, and deliver sustainable growth right around the United Kingdom.

[Terry Jermy]

A report by the Rural Coalition highlights that with the right policy framework, the rural economy could increase productivity, leading to an additional £19 billion a year. Will the Secretary of State outline what steps the Department is taking to help to support businesses in rural areas, such as my constituency, to unlock that growth potential?

[Peter Kyle]

I am grateful to my hon. Friend not just for his contribution, but for his advocacy for the rural economy. This Government are committed to supporting businesses, including those in rural areas such as South West Norfolk, to thrive and grow. We know that rural areas offer significant growth potential, contributing £259 billion to England’s gross value added in 2023. My Department provides support through the Help to Grow: Management business support service and the New Anglia Growth Hub. Our plan for small businesses will hardwire small business voices into Government to boost growth. On top of that and underpinning all of it is the modern industrial strategy, which provides stability into the long term—stability for which the business community right across the United Kingdom has been crying out for too long.