Category: Economy

  • Rachel Reeves – 2024 Speech at Labour Party Conference

    Rachel Reeves – 2024 Speech at Labour Party Conference

    The speech made by Rachel Reeves, the Chancellor of the Exchequer, on 23 September 2024.

    Conference, thank you.

    This time last year, I stood on this stage and I made a commitment.

    I promised that we would get Britain building again.

    Repair our NHS.

    And power growth in every part of Britain.

    Today, after fourteen wasted years, I stand here as your Chancellor of the Exchequer, ready to deliver on that commitment.

    At this conference, we welcome more than 200 new Labour MPs – members of the most diverse Parliament in our country’s history.

    Labour winning for the very first time, in sears like South-East Cornwall, the Isle of Wight, Aldershot, Banbury and Basingstoke; in Hexham, Altrincham, and the Ribble Valley.

    And Labour is back, in the service of communities that we never should have lost.

    In our port, coal, steel and mill towns. From Bolsover, Bassetlaw and Grimsby to Hartlepool, Rother Valley, Newton Aycliffe, and Bridgend.

    And Conference, in Edinburgh, in Glasgow, across the central belt and out in the Western Isles, Labour is back in Scotland too.

    So let me pay tribute to the people in this hall who made that difference.

    Those who stayed and fought through the hard years.

    Those who came back to our party under Keir’s leadership.

    And those who joined us for the first time.

    You helped change our party and you gave us this priceless chance to change our country for the better.

    To all of you – a huge thank you.

    In this hall one year ago, I stated my intention.

    That the next time I addressed you, I would do so as the first female Chancellor of the Exchequer.

    Today, Conference, you can consider that a promise fulfilled.

    Eight hundred years of the post of Chancellor of the Exchequer has existed.

    Every one, a man.

    On the fifth of July this year, we made history.

    Every woman watching this will know no matter how high you climb, how hard you work, how qualified you are, there will always be moments when you are reminded some people still do not believe a woman can get the job done.

    But millions of women in our party, in our trade unions and in every walk of life, beat back those doubts.

    I’m here today because I worked hard, yes.

    But most of all, I’m here because of the efforts of those who went before me.

    Trailblazing women like Jennie Lee, Barbara Castle, and our friend, our inspiration, Harriet Harman.

    And I’m here because of thousands of women, many of you in the hall today, who broke down barriers and defeated low expectations to pave the way for the rest of us.

    I am a Labour Chancellor because of that collective endeavour.

    I am the first woman Chancellor because of that collective endeavour.

    And that collective endeavour does not stop here.

    It falls to me, and to our generation of Labour women, to follow in the footsteps of those who went before us. To write the work of all women back into our economic story. To show to our daughters and our granddaughters that they need place no ceiling on their ambitions.

    That is the Britain we’re building.

    That is the Britain that I believe in.

    But Conference, why is it that the British people put their trust in us for the first time in five general elections?

    It is because, thanks to Keir’s leadership, we left no stone unturned to show that Labour is the party of economic responsibility and the party of working people.

    We were elected because, for the first time in almost two decades, people looked at us – looked at me – and decided that Labour could be trusted with their money.

    That is more than a political choice, or a single line in any manifesto.

    It is about our values.

    Because we saw what happened two years ago what happens when governments play fast and loose with the public finances: when the prices of food, energy and housing soar, it is working people with mortgages, rent and bills to pay who suffer the consequences.

    I will not take that risk.

    I will repay the trust that people put in us.

    Trust is hard earned – and is easily squandered.

    Just ask the Conservatives.

    They paid the price for their incompetence, their dishonesty, their rule breaking.

    We’ve had years of division and decline that left working people worse off, not just in the heaviest defeat in their party’s history, but the heaviest defeat for any governing party in British history.

    And Conference I can tell you – today I am so proud that our women’s Parliamentary Labour Party is bigger than the entire Conservative parliamentary party.

    And so, where will the Conservative Party go next?

    What a clash of the titans their leadership contest has become.

    The former Home Secretary who called the Rwanda scheme “batshit” and, of course, is now pledging to bring it back.

    The former Immigration Minister, who found himself too right-wing to work with Suella Braverman.

    The “moderate” candidate, the former Security Minister, who says he “acts on his principles” – previously demonstrated by backing Liz Truss to be Prime Minister.

    And then there’s the former Business Secretary who claims she “became working class” at the age of sixteen.

    But Conference, the Tories’ failure was not just because they were incompetent or deluded.

    Not just because they put party before country – though, of course, both of those are true.

    It is because they do not understand the world as it is today.

    They do not understand the premium on economic stability, in an uncertain world.

    They do not understand that, in our new age of insecurity, government cannot just get out of the way and leave markets to their own devices.

    Instead, the Tories cling to the discredited trickle-down and trickle-out dogma that a strong economy can be built through the contribution of just a few people, a few parts of the country, or a few industries.

    Their ideas choked off investment, opened wide gaps between different parts of the country, and it suffocated growth and living standards.

    We will not make those mistakes.

    Yet, when their ideas were found wanting, what did they do? They doubled down.

    Never forget what the Conservatives did: two years ago today, in their clamour to cut taxes for the richest, they crashed the economy, sent mortgages spiraling, and put pensions in peril.

    You will hear many things at their conference next week.

    But you won’t hear an apology.

    No apology for the cost of your mortgage.

    No apology for crumbling classrooms and rising waiting lists.

    No apology for mismanaging our public finances, degrading our institutions, and crashing our global standing.

    They do not care.

    And they have learned nothing.

    So be in no doubt, given the chance, they will try and do it all over again.

    Only we, only the Labour Party, can stop them.

    So we must have no complacency.

    A relentless focus on the priorities of the British people.

    And iron discipline.

    We cannot give them that chance.

    So let’s resolve together today that we will not give them that chance.

    Now, I know that you are impatient for change. I am too.

    But Conference, because of that legacy left by the Conservatives, the road ahead is steeper and harder than we expected.

    You don’t need to take my word for it.

    Figures released only on Friday showed another month of record borrowing.

    Debt at one hundred percent of GDP.

    That is the inheritance that they left, in black and white.

    In my first weeks at the Treasury, the true extent of the Tories’ irresponsibility was revealed to me: £22 billion of spending plans, this year, that the previous government did not disclose.

    Which they had no plan to pay for and which they had covered up from Parliament and from the British people.

    Departments had been allocated money which they were spending, but which did not exist.

    The money was not there.

    A £22 billion black hole – which, if not tackled now, will pose risks for years to come.

    That included more than £6 billion overspend on the asylum system – including their failed Rwanda policy.

    Almost £3 billion on rail projects.

    The nation’s reserve – intended for genuine emergencies – set to be spent three times over only three months into the financial year.

    They were reckless.

    They were irresponsible.

    And they acted in that way, not because they believed it was right for our country – but because they believed it might rescue their party from defeat.

    They promised solutions that they knew could never be paid for.

    Roads that would never be built.

    Public transport that would never arrive.

    And hospitals that would never treat a single patient.

    They showed no regard for ordinary, working people.

    And they did not care about the consequences.

    It was made clear to me that failure to act swiftly could undermine the UK’s fiscal position – with implications for public debt, mortgages and prices.

    And so, I took action to make the in-year savings necessary.

    We are reviewing plans for new hospitals, promised by the Conservatives, but which they did not budget for.

    We cancelled road and rail projects, promised by the Conservatives, but which they did not budget for.

    And I made the choice to means test the winter fuel payment, so that it is only targetted at those most in need.

    I know that not everyone – in this hall, or in the country – will agree with every decision I make.

    But I will not duck those decisions. Not for political expediency. Not for personal advantage.

    Faced with that £22 billion black hole that the Conservatives left this year and with the triple lock ensuring that the state pension will rise by an estimated £1,700 over the course of this Parliament, I judged it the right decision in the circumstances we inherited.

    I did not take those decisions lightly.

    I will never take the responsibilities of this office lightly.

    And I will never take lightly the trust of voters who have been burned too often by politicians who put ideology, party and self-interest over the interests of the British people.

    And so, we must deal with another Tory legacy.

    Conference, I know how hard people work for their money.

    Taxpayers’ money should be spent with the same care with which working people spend their own money.

    And so, one year ago, I promised you that this Labour government would wage a war on Tory waste.

    It has begun.

    I pledged that we would aim to halve government consultancy spend – and we have already announced savings this year.

    I pledged that we would cut down on the excesses of Tory ministers’ private air travel – and we have already cancelled the £40m contract for Rishi Sunak’s VIP helicopter.

    And I pledged that we would act on the carnival of waste and fraud that took place during the COVID pandemic.

    Billions of pounds of public money handed out to friends and donors of the Conservative Party.

    Billions more defrauded from the taxpayer.

    More than a billion pounds spent on PPE that either did not arrive or was not fit for purpose.

    All under the cover of the greatest crisis of my lifetime.

    On entering government, we found £674 million of contracts in dispute, where we inherited a recommendation from the previous government that any attempt to reclaim that money should be abandoned.

    The Tories simply did not care.

    But Labour will not stand for it.

    I will not stand for it.

    So: as I promised, we are appointing a Covid Corruption Commissioner.

    It could not be more urgent.

    And I have put a block on any contract being abandoned or waived until it has been independently assessed by that Commissioner.

    I won’t turn a blind eye to rip-off artists and fraudsters.

    I won’t turn a blind eye to those who used a national emergency to line their own pockets.

    I won’t let them get away with it.

    That money belongs in our police, it belongs in our health service, and it belongs in our schools.

    And Conference, we want that money back.

    Next month, I will deliver the first budget of this Labour government.

    The first Labour budget in fourteen years.

    And because I know how much damage has been done in those fourteen years, let me say one thing straight up: there will be no return to austerity.

    Conservative austerity was a destructive choice for our public services – and for investment and growth too.

    Yes, we must deal with the Tory legacy – and that means tough decisions.

    But I won’t let that dim our ambition for Britain.

    So, it will be a budget with real ambition.

    A budget to fix the foundations.

    A budget to deliver the change that we promised.

    A budget to rebuild Britain.

    And my budget will keep our manifesto commitments.

    Every choice we make will be within a framework of economic and fiscal stability.  You’d expect nothing less.

    We said we would not increase taxes on working people, which is why we will not increase the basic, higher or additional rates of income tax, national insurance, or VAT.

    And we will cap corporation tax at its current level for the duration of this Parliament.

    Conference, as promised, we will extend the Energy and Profits Levy on oil and gas producers to invest in homegrown energy here in Britain.

    We will end the non-dom tax loopholes.

    And we will crack down on tax avoidance and tax evasion.

    That is the difference that a Labour government will make.

    We are already delivering on that last promise to cut down on tax avoidance and tax evasion.

    Strengthening the powers of HMRC, under the leadership of the Exchequer Secretary James Murray and recruiting 5,000 new tax compliance officers.

    Because this government will not sit back and indulge the minority who avoid paying the taxes that they owe.

    And Conference, we will enact another manifesto commitment.

    Because I know every parent has aspiration for their children. And I know the strain that our state schools have been under.

    This government will introduce VAT on private school fees, to invest in our state schools.

    It is the fair choice, the responsible choice, the Labour choice, to support the 94 percent of children in state schools.

    That is the Britain we’re building.

    That is the Britain that I believe in.

    This budget will be a budget for economic growth.

    It will be a budget for investment.

    Because today we find ourselves at the very bottom of the G7 league table for economy-wide investment as a share of our GDP.

    And we must change that.

    Conference, I believe in a better Britain.

    A Britain of opportunity, fairness, and enterprise.

    I know that country has sometimes felt far off in recent years.

    As our growth, our productivity and family finances fall behind.

    But it doesn’t have to be that way.

    The British capacity for inventiveness, enterprise and old-fashioned hard work has not gone away.

    So believe me when I say – my optimism for Britain burns brighter than ever.

    My ambition knows no limits.

    Because I can see the prize on offer, if we make the right choices now.

    Stability is the crucial foundation on which all our ambitions will be built.

    The essential precondition for business to invest with confidence and for families to plan for the future.

    The Liz Truss experiment showed us that any plan for growth without stability leads to ruin.

    So we will make the choices necessary to secure our public finances and fix the foundations for lasting growth.

    Stability, paired with reform, will forge the conditions for businesses to invest and for consumers to spend with confidence.

    Growth is the challenge.

    And investment is the solution.

    Investment in new industries, new technologies, and new infrastructure.

    Let me put what we are doing into some perspective.

    If the UK economy had grown at just the average rate of other OECD economies under the Tories, our economy would be £140 billion larger today.

    That would have provided an extra £58 billion to invest in our public services without raising a single tax rate by a single penny.

    Revenue to invest in our schools, our hospitals, our police, and all our public services.

    And that’s not the limit of my ambitions.

    Because, with growth, we will create jobs that pay enough to raise a family on – for you and your children.

    Put real money in the pockets of working people.

    And wealth in all of our communities, that flows into vibrant high streets.

    This is how we’ll make Britain the best place to start and grow a business – whatever background you come from, wherever you grew up.

    Things built to last, and exported around the world are made here in Britain.

    This is how we’ll achieve what we promised – the five missions that will comprise a decade of national renewal.

    That is the Britain we’re building.

    That is the Britain that I believe in.

    During the election campaign, I visited businesses all over Britain.

    From historic brands seizing the opportunities of the future, to innovative start-ups at the cutting edge, to high street businesses breathing new life into their local communities.

    Our world-leading universities, creative industries, life sciences, tech companies and professional services.

    I see immense potential, everywhere I go.

    But for every success story, there is potential held back.

    Entrepreneurs struggling to access finance.

    High street businesses punished by our outdated system of business rates.

    Builders frustrated by a planning system which hands power to the blockers.

    Exporters tied up in red tape by a failed Brexit deal.

    Too many people out of work through chronic illness, waiting for treatment, or without the skills, training and security they need to fulfil their potential.

    And a welfare state that does not always incentivise work.

    Brilliant young people shut out of the opportunities they deserve.

    And whole industries held back by underinvestment or the lack of a real strategy for their future.

    So we must learn the lesson from the Tories’ failure.

    We must build for growth, in a changed world.

    In this age of insecurity, growth requires stability but not stability alone.

    It requires active government.

    And it requires the contribution of people in every part of Britain, not just a few.

    Where there are vested interests, outdated practices or institutional barriers obstructing productive investment – we will confront them head on.

    Where active government is called for, this government will act.

    And Conference, it is time that the Treasury moved on from just counting the costs of investments, to recognising the benefits too.

    So we are calling time on the ideas of the past.

    Calling time on the days when government stood back, left crucial sectors to fend for themselves, and turned a blind eye to where things are made and who makes them.

    The era of trickle-down, trickle-out economics is over.

    And so, I can announce that next month, alongside the Business Secretary Jonathan Reynolds, we will publish our plans for a new industrial strategy for Britain.

    A strategy for driving and shaping long-term growth in our manufacturing and service sectors.

    A strategy to unlock investment, create jobs and deliver prosperity.

    A strategy to help break down barriers to regional growth, speed ahead to net zero and clean power by 2030, and build prosperity on strong and secure foundations.

    Because when I said that this Labour Party is proudly pro-business and proudly pro-worker – I meant it.

    This mission – for investment, for growth, for jobs – is why in a few weeks’ time, this government will be hosting a major international investment summit bringing together hundreds of business leaders, to send a simple message.

    That after years of instability and uncertainty, Britain is open for business once again.

    And this mission is why we will reform our pensions system; overhaul business rates; give power to our mayors and regional leaders; deliver a plan to get waiting lists down and people back to work; and forge a closer relationship with our neighbours in the European Union, while pursuing trade deals to open up new markets too.

    It’s why we launched a new National Wealth Fund, to invest in new and growing industries right across Britain.

    And it is why Angela Rayner and I have wasted no time in ripping out the blockages in our planning system so we can get Britain building again.

    You know, within 72 hours of taking office, we did more to unblock the planning system than the Conservatives did in fourteen years – including an end to the senseless Tory ban on onshore wind.

    And conference, we won’t stop there.

    Onshore wind to bring down your energy bills.

    New data centres, for good jobs in the industries of the future.

    And housing – for the decent home that every family deserves.

    That is the Britain we’re building.

    That is the Britain that I believe in.

    If you want to start or grow a business.

    If you want to export overseas.

    If you want to build in Britain but fear local opposition and delay.

    If you have felt the quiet desperation of jobs, opportunity and investment slipping away.

    Then be assured: your ambitions, your hopes, your future will not be held back any longer.

    I have promised this hall before that what you will see, in your town, in your city, is a sight we have not seen often enough in our country.

    Shovels in the ground.

    Cranes in the sky.

    The sounds and the sights of the future arriving.

    We will make that a reality.

    Jobs in the automotive industry of the future in the industrial heartland of the West Midlands.

    Jobs in life sciences, across the North West.

    Clean technology across South Yorkshire.

    A thriving gaming industry in Dundee.

    And jobs in carbon capture and storage, on Teesside, Humberside, and right here on Merseyside too.

    Wealth created, and wealth shared, in every part of Britain.

    That is the prize.

    That is the Britain we’re building.

    That is the Britain that I believe in.

    And Conference, because growth must be built by the many, its proceeds must be felt by the many too.

    And because of the indignity and insecurity that stems from the broken link between hard work and fair reward, we will deliver on another promise: a new deal for working people.

    With a ban on exploitative zero hour contracts; an end to fire and rehire; and a minimum wage which takes into account the real cost of living.

    So, at last, we will have a genuine living wage in our country.

    For dignity. For security. For growth.

    This Labour government will make work pay.

    That is the Britain we’re building.

    That is the Britain that I believe in.

    Within weeks of entering office, we faced another choice.

    We could accept the independent pay review bodies’ recommendations and give public sector workers their first above inflation pay rise in fourteen years.

    Or we could allow further industrial disruption to wreak havoc on our public services.

    Patients having hospital appointments cancelled.

    Parents unable to send their children to school.

    Key workers – the men and women who kept us safe during the pandemic – forced to pay the price for a crisis that they did not create.

    The Conservatives gave no guidance to the pay review bodies on affordability, nor did they budget for the recommendations they offered.

    And the Conservatives will deny that this was a choice that had to be made at all.

    They will claim that it was a viable strategy to let industrial action continue, to let a crisis in recruitment and retention spiral and let public services deteriorate yet further.

    That was not a choice I was willing to make.

    And it was not a choice that was in the national interest either.

    So, I am proud. I am proud to stand here as the first Chancellor in fourteen years to have delivered a meaningful, real pay rise to millions of public sector workers.

    We made that choice. We made that choice not just because public sector workers needed that pay rise.

    But because it was the right choice for parents, patients and for the British public.

    The right choice for recruitment and retention.

    And it was the right choice for our country.

    If the Conservative Party, if they want a fight about this.

    If they want to argue we should have ignored the independent pay review bodies.

    That public sector workers’ pay should fall further behind the cost of living.

    That ordinary families should pay the price of industrial action.

    If the Conservatives Party want a fight about who can be trusted to make the right choices for our public services and those who use them.

    Then I say bring it on.

    Public services that we can be proud of, once again with a Labour government.

    That is the Britain we’re building.

    And that is the Britain that I believe in.

    Let me tell you where I’m coming from.

    My mum and dad were primary school teachers.

    And I’m really proud of that.

    My mum was a special needs teacher at my school.

    And my dad was a headteacher at another local primary.

    I know how hard my parents worked.

    How dedicated they were.

    The long hours they both put in – my sister Ellie and I playing in my dad’s office while he worked late.

    And they had to do so in the face of a Conservative government that, in its every action, showed it didn’t care about kids in schools like theirs.

    Ordinary, comprehensive schools like the one I went to and the kids I grew up with.

    My mum and dad lived their values and they taught me the value of public service.

    Of hard work.

    Of giving something back to the community.

    I joined this party because of three words spoken in a conference hall in Blackpool twenty eight years ago: education, education, education.

    I joined this party because I believe that strong public services are the backbone of any decent society.

    Because I believe that people should rise and fall on their own merit, not on the circumstances of their birth.

    And because I believe that we do not have to choose between a fair society and a strong economy.

    I don’t want kids to succeed ‘against all odds’.

    I want them to succeed because they deserve it.

    Because the odds aren’t stacked against them.

    That’s the Britain that I want to live in – just like every other parent who wants the best for their kids.

    So I will judge my time in office a success if I know that at the end of it there are working-class kids from ordinary backgrounds who lead richer lives, their horizons expanded, and able to achieve and thrive in Britain today.

    That starts by taking the first steps to delivering on another manifesto commitment: our promise, led by the work of our Education Secretary Bridget Phillipson, to introduce free breakfast clubs in every primary school across England.

    Today I can announce that that will start in hundreds of schools for primary school-aged pupils from this April, ahead of the national rollout.

    An investment in our young people.

    An investment in reducing child poverty.

    An investment in our economy.

    And an investment so that, in years to come, we can proudly say that we left behind a Britain where the next generation has a chance to do better than those who came before it.

    Conference – that is the Britain we’re building.

    That is the Britain that I believe in.

    The work of change is only just beginning.

    And the stakes are high.

    Trust is a fragile thing.

    And we’ve seen the consequences when mainstream politics comes up short.

    It falls to us to show that politics can be a force for positive change.

    Not through words, but through action.

    Through progress towards that Britain of opportunity, fairness and enterprise.

    That is our task.

    That is my task.

    It comes with a great weight of responsibility.

    I embrace it.

    It will mean hard work.

    I am ready for it.

    The British people put their trust in us.

    And we will repay it.

    And when someone asks you – does this government represent me?

    When they ask – whose side are they on?

    You can tell them: when you work hard, Labour will make sure you get your fair reward.

    When barriers obstruct opportunity and investment is constricted, Labour will tear down those barriers.

    When working people have paid the price for the Tory chaos, while waste spirals and tax is avoided, Labour will act.

    And when the national interest demands hard choices, Labour will not duck them.

    We will make fair choices.

    For decent public services and the people who rely on them.

    For investment and opportunity in every part of Britain.

    For an end to the naysaying, the division, the defeatism.

    An end to the low investment that feeds decline.

    And an end to easy answers, the empty promises, and the Tory stagnation.

    Conference, you can tell them that we stand – that we will always stand – with working people.

    We changed our party.

    Let us now change our country.

    This is our moment.

    Our chance to show that politics can make a difference.

    That Britain’s best days lie ahead.

    That our families, our communities, our country need not look on while the future is built somewhere else.

    That we can, and we will, make our own future here.

    A Britain trading, competing, and leading in a changed world.

    A Britain founded on the talent and the effort of working people.

    That is the Britain we’re building.

    That is the Britain I believe in.

    Together, let’s go and build it.

    Thank you.

  • Alison McGovern – 2024 Speech on Britain’s Labour Market

    Alison McGovern – 2024 Speech on Britain’s Labour Market

    The speech made by Alison McGovern, the Minister for Employment, on 18 September 2024.

    INTRODUCTION

    I want to thank everybody at the Institute and all the Commissioners for this important report today. It’s quite long and represents a very serious endeavour and brings evidence from every part of our country.

    And I think it’s such an important contribution to a moment in which I hope, and I will say this morning, we’ll see a page turned from the policy of the past to a new future for the Department that I proudly serve in Government.

    In July, the Secretary of State gave a speech in Barnsley setting out our plans to refocus the Department for Work and Pensions from being the department for welfare to a department of work.

    We’re going to change the Department for Work and Pensions fundamentally. Because if you go around Jobcentres they still have paper listings on the wall as if it’s 1985. Meanwhile, the rest of the economy is galloping to our AI future. Which is why Liz and I want to be clear we are making an employment service fit for the future, not stuck in the past.

    However, updating the Department for Work and Pensions is not just about technology. Today, I want to set out the failure at the heart of past thinking, and where our new policies will be led not just by new opportunities, but by fundamentally different principles.

    UNEMPLOYMENT IS A PROBLEM OF THE ECONOMY, NOT OF THE INDIVIDUAL

    The report published today describes the UK’s employment service as “the least well-used in Europe” – and I would add least well-loved – “often acting as an extension of the benefit system”. The report highlights the need for far-reaching reforms, including a “clearer separation between employment support and social security delivery”.

    And I agree, that point is at the heart of my speech today.

    I want to spell out fundamental flaws in thinking that have held us back.

    For too long, the question of how to increase employment in the UK has been reduced simply to a question of the individuals out of work. The only question has been whether the social security system undermines a person’s will to work.

    Because for too long, that narrow focus has dominated all thinking. We’ve lost sight of the labour market as a whole.

    For far too long in politics, we’ve asked whether this change or that change to social security will result in more people working, instead of looking at the options that people have in the labour market and asking ourselves whether those options and choices are good enough.

    This was always doomed to fail.  To know that, all you need to do is understand our past.

    William Beveridge called it out in 1909. He said: “The first question must be “not what is to be done with the unemployed individual, but why is he thus unemployed”.

    The truth is, for any individual, you can look at the ups and downs of life and describe why they aren’t working: they got sick, they had kids, there was a bus that could get them there but it was cancelled.  But when there are over 7.2 million people like that who are out of work, that is no longer an individual problem – it’s a failure of our whole economy. As Beveridge described it, it’s a problem of industry and a failure of organisation.

    Look at the evidence:

    • We’ve got millions stuck on waiting lists and 2.8 million out of work sick. Is that social security? Or the people in charge of the health service who were supposed to keep our country well?
    • We’ve got almost 1 in 8 of all young people on the scrapheap – is that the fault of social security– or was it the failure to help the lockdown generation?
    • We’ve got too many insecure jobs, with unpredictable working patterns. And that has nothing to do with social security.
    • And the welfare state is not to blame for the lack of buses after 6pm in northern towns. It is ridiculous.

    What people call ‘welfare’ has been the current obsession.

    HOW TO FIX OUR SOCIAL SECURITY SYSTEM AND DELIVER A THRIVING LABOUR MARKET

    But this was not a trap that the author of our social security system fell into.

    In his 1942 report, Beveridge wrote that his plan assumed “the establishment of comprehensive health and rehabilitation services, and maintenance of employment, that is to say avoidance of mass unemployment as necessary conditions of success in social insurance.”

    Beveridge did not think social security was a cure-all. He knew its success was conditional – that his system would not work without these two other post-war reforms: the goal of full employment, and the goal of a national health service at the disposal of all workers.

    Social security is there to smooth people’s incomes over time and to take account of life events we all have a strong chance of experiencing – old age, the birth of a baby, sickness or redundancy. Run well, it should be a counterweight to poverty and a stabilising force at a time of distress. But only if we acknowledge that tinkering with its edges will never solve the problems of the broader economy.

    Instead, we need to give people the good choices and chances that they need.

    Because markets can be a force for opportunity and prosperity. But we should also mould them, and shape them, and spread power widely within them. A market for labour that has businesses crying out for staff, and a queue at the foodbank door is failing this country.

    You’ll know that the Commissioners join Beveridge in prescribing the UK Government an objective to move towards full employment. And it’s why Liz and I also join the Commissioners – having announced our bold, long-term ambition to get to an 80% employment rate – the kind of clear objective that our hosts here at the Institute for Employment Studies say will help change the fortunes of our country.

    LEARNING FROM HISTORY: ECONOMIC CRISES AND ACTIVE LABOUR MARKET POLICIES

    The central point I want to make today is that’s right and we’ve forgotten our own history on this point. Particularly, the major turning point after the Second World War whereby the issue that caused the collapse of Ramsey McDonald’s second Labour Government – unemployment – was resolved. Post-war, it was accepted that the economy, and the labour market in particular, ought to keep people (men at least) in work and off the streets.

    The generation that experienced dreadful conflict and mass destitution decided they would put an end to it. They created a department for employment to train and rehabilitate people, industry full of apprenticeships, and of course the Employment Exchanges – what we now call Jobcentres – to connect the unemployed with jobs. The Commission’s report, in my opinion, reestablishes this lesson for the 2020s.

    Beveridge was not perfect, but he was definitely a man who made a difference.

    But it is the story of two women on either side of the Atlantic that I think can help us see even more forcefully why we need a rebirth of active labour market policy today.

    On one side of the Atlantic, Frances Perkins – first woman in the US cabinet, creator of the New Deal and author of the plan for prosperity in response to the destitution of the Great Depression.

    On the other side of the Atlantic, four years earlier, Margaret Bondfield. We all know who that is, right? The first woman in the UK Cabinet, dealing with ever rising unemployment and an unsustainable unemployment insurance bill.

    With active labour market policy for Bondfield not yet invented, the Labour Government collapsed and her political career was all but forgotten.

    Now if you read Bondfield’s memos from the time, and you can see her frustration, repeatedly making the case for increasing the national insurance fund to prevent hardship but with no answer to the cause of the problem. And the populists of the 1930s were at the gate, making the most of the economic distress.

    Caught in the middle, she was desperate for the answer that came just a few years later in the United States with Frances Perkins’ creation of the New Deal.

    Why do I tell her story?

    Because unlike Margaret Bondfield we can’t say we don’t know what the answer is because since then we’ve learnt from nearly 80 years of public policy in response to economic failure.

    We’ve learnt from that failure of the 1930s.

    We’ve learnt from the near full employment that came from the post war consensus.

    We’ve learnt from when the consensus broke down in the 1970s and other crises took over. Inflation became the big challenge that economic policy turned to face down – and the cost of that was a return to high unemployment.

    We’ve learnt from industrial collapse, which saw a move away from the mass employment provided by heavy industries like manufacturing and coal mining towards services and finance.

    We learnt what this would mean for towns and cities across Britain. When women joining the workforce concealed an even worse outcome for men.

    And we’ve learnt that this saw regional disparities deepen – in whole parts of the country, economies simply failed – and many are still yet to properly recover.

    Despite attempts to manage this, the number of people out of work due to sickness grew rapidly, with incapacity caseloads broadly doubling to 2.7m by the time we entered the 2000s.

    So we had to learn through the actions of the last Labour government in 1997, that in response to this horrendous situation, there had to be an explicit rebirth of active labour market policy, with the United Kingdom’s very own New Deal.

    A radical series of reforms designed to provide people with active tailored support to help get them back into work as unemployment fell and the economy grew.

    With a big focus on young people.

    The global financial crash in 2008 saw unemployment rise again and the Department for Work and Pensions then, in response, scaled up its active labour market policy operations.

    And as a result, the global crash did not have a long-term impact on the trend rate of employment. That is not to say everything was perfect, but it’s worth learning from.

    And I’ve certainly learnt from what happened in 2010.

    [Please note political content redacted here]

    Active labour market policy was shrunk back to a preoccupation with social security rules.

    And the results of the past 14 years show what’s been happening with our labour market.

    A quarter of working age people are not in work, with 2.8 million people out of the workforce due to long-term health problems.

    Over 4 million people in work and with work-limiting health conditions which may put them at risk of not fulfilling their potential or falling completely out of the labour market.

    And I want to say to you all this morning – now is the time to turn the page on that failure.

    Because just as in 1930, Margaret Bondfield said of the Unemployment Insurance Scheme that it “is being asked to meet situations for which it was never designed.

    The same is true of our social security system today.  We cannot load every economic problem we face onto minor tweaks in the social security rules.

    Which is why, as part of our Get Britain Working White Paper, we are bringing forward fundamental reforms to employment support.

    That includes changing the outcomes against which we measure its success – for example, not focusing alone on getting people into work but on achieving higher engagement with everyone, much higher employment in the short-term, and higher earnings too.

    We will overhaul Jobcentres in this country and we will get people into work long-term.

    We will have a new youth guarantee so not a single person will be left on the scrapheap when they’re young.

    And because Liz and I know the country doing well is no compensation if your town or city is being abandoned, we will make sure – as the Prime Minister says – that those with skin in the game – our mayors and regional leaders –have the levers they need to make change.

    As the Commissioners have laid out in their report, our highly centralised system needs to move towards a model more in line with those used in other high-performing countries – with more control at the local level.

    This big reform will be matched by the action we’re taking across the UK Government to support jobs and growth.

    We’ll soon be introducing legislation into Parliament so people’s work is better paid and more secure.

    Skills England will change the place of learning in this country to give everyone a chance of success.

    And we will create new Local Growth Plans powering towns and cities up and down the country.

    I know change won’t happen overnight, but I am determined to fix the foundations in the Department for Work and Pensions so that more families can benefit from the security, dignity and prosperity of good work.

    CONCLUSION

    The point I’m making here, I know is not a new or innovative one. As I’ve said, it’s the founding principle of our social security system –

    You cannot have well-functioning social security without full employment.

    Beveridge knew that.

    But let me conclude with a few small points that we could help Beveridge understand.

    Because whilst his principle remains the same, the circumstances we make these reforms in are very different.

    So it is for us to apply that principle to the society we have now – more than 80 years later.

    Where the health system – still as vital as ever – must address a very different set of challenges. Not infectious disease, but chronic poor mental health.

    Where women’s role in the workforce makes the need for a proper childcare system as pressing as Beveridge believed the need for a reformed health system was in the 1940s.

    Now Beveridge also didn’t give any evidence that he foresaw the rise of the motor vehicle, which – combined with inadequate investment in public transport – forces those who can’t afford a car to face limits on their ambitions – especially if they live in an area with fewer opportunities and chronically bad transport.

    Changing that will be part of better organisation for our economy and I hope that Beveridge might have thought was a good idea.

    Our desire for an 80% employment rate comes from a serious understanding of our country’s history, and also from facing the reality of the economy today. We have a serious understanding of the challenges and opportunities before us, and who they apply to.

    That is why what is not needed now is a sticking plaster, or a tweak or an amendment, but a change in principle, in policy and in practice. Leading to a better organised economy – and a market that works – spreading opportunity and prosperity to every corner of our country.

    Back in the 1930s, the New Deal provided Americans with a springboard and a safety net. And a recognition that you don’t get one without the other.

    What unites these moments in history that I’ve talked about is an ambitious idea about what can happen if you put a platform under people and see what they could do and what they could achieve.

    The report that the Commissioners have written – published today – I think is very ambitious. But I hope I have made the case, in my remarks, that it ought to be ambitious.

    Because for too long, our economic policy has shrunk the people of this country. Our new economic approach will see people for all they could be and all the opportunities they deserve.

  • Tulip Siddiq – 2024 Speech on the Government’s Vision for the Future of UK Capital Markets

    Tulip Siddiq – 2024 Speech on the Government’s Vision for the Future of UK Capital Markets

    The speech made by Tulip Siddiq, the Economic Secretary to the Treasury, at the London Stock Exchange on 6 September 2024.

    Good morning and thanks for the invitation. It’s so lovely to be here today, and it’s one of my first addresses in my new role as City minister.

    And it’s a very deliberate decision that I’ve taken, because growth is the defining mission of this government, which you’ve probably heard us say over and over again. From the top down to the centre out, we recognise the importance of capital markets to delivering this growth mission that we’ve consistently talked about for the last few years. And As the Chancellor herself said – many of you will have heard at Barclays CEO forum recently – “when the City succeeds, Britain succeeds”. Nothing demonstrates that better than our capital markets.

    It’s not just that when our markets do well, our economy does well. Already this year, more than £20 billion worth of equity capital has been raised in London alone, more than three times what has been raised in the next three European exchanges combined – to support businesses to invest, to innovate and to grow.

    And according to a New Financial report from 2020, 90% of large UK companies regularly use capital markets, supporting some 5.5 million jobs. It’s not just large companies which benefit from our markets. Over the last five years combined, more than half of all capital raised in European growth markets was raised in London. And although these facts speak for themselves, I’ll spell out what they say: that UK capital markets will underpin our mission of sustained and meaningful economic growth.

    But I also know that for our capital markets, stability and just the right amount of risk is the formula for economic growth. Whilst too much political change can unbalance that formula by moderating the market’s ability to signal opportunities for profit and risks of loss.

    So let me be clear to everyone who has raised this with me. We will not pursue change for its own sake. The economist Adam Smith once wrote about an invisible hand, a metaphor for the forces that guide decision-making in the market. Well, I want you to be in no doubt – because in the marketplace of ideas, evidence will be the hand that guides our decision making in policy making generally and capital markets policy specifically. You can describe our approach to the existing program of capital markets reform with this timeless saying, which is ‘if it ain’t broke, don’t fix it’. I hope that reassures some of the people who’ve raised this with me about continuity.

    And while reviewing the existing plans for reform to a capital markets there’s three things that I was struck by. Firstly, the proposals are technically rigorous. Secondly, they have the support of our financial services industry and its regulators. But lastly, and this is most importantly, I know they will support our mission of sustained and meaningful economic growth. And so I, and this government, will support them.

    And I’ll begin that support by highlighting some of the most exciting policy initiatives. Some of which Julia and I were discussing when we came in. For example, the FCA’s changes to our listing rules will revolutionise our markets. By making changes to rules on dual-class share structures, related party transactions and introducing a new international secondary listing category, we will directly align our markets with leading international counterparts and provide greater flexibility to firms and founders raising capital.

    The impact of some of these changes are already being felt, and I’m delighted that some firms are already taking advantage of them.

    The government will also continue to collaborate with a number of industry driven initiatives. Working closely with our Industry Technical group led by Andrew Douglas, and building momentum towards faster settlement of securities trades. And I look forward to the final report of the Task Force led by Sir Douglas Flint on improving the current system of share ownership and eliminating the use of paper share certificates.

    And we remain fully committed, as I just said before we came on, to take forward the new Private Intermittent Securities and Capital Exchange System – or PISCES – a world-first bespoke regulated market for private company shares. This will help investors to invest in exciting private companies and support innovative companies to grow – and ultimately to an IPO.

    To my mind, government works best when it’s underpinned by honest and open conversation. And that’s why it’s very important to me to thoroughly examine the feedback from the consultation earlier this year, and to ensure that all of your opinions are properly reflected in our decision-making process.

    And while it’s clear to me that there is huge support for the PISCES project, it is also clear that on the issues of disclosure and market abuse we need to tailor our thinking further. So please be assured that my officials and I will continue working with you. And in that spirit, my officials will be in attendance at the roundtable on PISCES later today, and I’ll ensure that all the conclusions from this roundtable are considered in our final proposal to ensure that PISCES does deliver on its promise.

    But I know that we can go even further to restore competitiveness to our capital markets.

    And of course, a lot of you will be looking forward to the Mansion House speech and the Budget later on, which will set out the plans for our sector in more detail. But I would urge you, if you haven’t already, to look at the report “Financing Growth” – that I published earlier this year – which unapologetically puts really reinvigorating our capital markets at the heart of this government’s growth mission. It’s what we campaigned on, and it’s what we intend to deliver in government.

    They include proposals to encourage the investment of capital freed by Solvency II reforms into UK infrastructure and green industries. To empower the British Business Bank with a more ambitious remit, for example, providing match funding to spin out seed funds. And a landmark review of the UK’s pensions and retirement saving landscape to explicitly consider the role of pension funds in capital and financial markets to boost both their returns and broader economic growth.

    Confirming this review was one of the first announcements made by the Chancellor, and this phase will be led by my colleague Emma Reynolds, who is the Minister for Pensions. She will be speaking here later today. And I encourage you to join this, which is the session on the UK pensions landscape, because Emma will outline the exciting plans that we’ve undertaken as a government.

    So, I do recognise that these proposals are challenging. I’m not naive about it.

    But I am confident looking around this room today and seeing the expertise here, that if we work together, we will be delivering this, because sustained and meaningful economic growth is not just the government’s mission, it’s a mission that we share with everyone in this room.

    So now let’s go out and deliver it.

  • Mohammad Yasin – 2024 Speech on the Economy, Welfare and Public Services

    Mohammad Yasin – 2024 Speech on the Economy, Welfare and Public Services

    The speech made by Mohammad Yasin, the Labour MP for Bedford, in the House of Commons on 22 July 2024.

    It is a pleasure to speak in support of the King’s Speech under a Government committed to putting country before party to improve lives in this country. That is what I pledged to the people of Bedford and Kempston, whom I thank for putting their faith in me again to work hard for them and to restore their faith in politics as a force for positive change.

    The last Government reduced our public services to a shadow of their former selves. In 2019 a study jointly funded by Bedford borough council and the NHS found that Bedford borough was 40% under-provided for in the primary care estate, despite a rapid growth in population since 2011. HMP Bedford has been in and out of special measures, so I am pleased that the Government have already taken action to improve the crisis in prisons.

    I am also pleased to see early priority given to strengthening community policing by increase numbers of officers and giving them greater power to deal with the antisocial behaviour that blights our communities. I hope this Government succeed where the last Government failed in implementing a fairer funding formula for Bedfordshire police. Wrongly funded as a rural force, it is one of the lowest-funded forces in the UK despite a £10 million year-on-year increase to £156 million for 2024-25.

    The housing crisis is causing untold misery to many of my constituents, so I am pleased that building houses will be a priority for our Government. It is indefensible that I know of parents who are beginning the summer holidays living in hotel rooms without access even to a fridge or a microwave to prepare food for their children because no suitable social housing properties are available. Even food bank vouchers are not helping when basic staples such as UHT milk cannot be kept fresh once opened.

    More than 15,000 children and 17,000 adults are on waiting lists for mental health treatment in the area covered by the NHS Bedfordshire, Luton and Milton Keynes integrated care board. For years the NHS provider has had the capital funds to bring in desperately needed in-patient mental health facilities, but the previous Government consistently refused to provide the capital expenditure cover so that we could have those facilities in Bedford. I hope the new Government’s plan to get the NHS back on its feet includes an overhaul of how new projects are funded, because the existing capital departmental expenditure limits are not working.

    Many of my constituents will be very happy to see planned legislation to bring rail back into public ownership and to reform bus services and franchises, including by allowing local control and supporting public ownership, but one of the most significant transport issues in my constituency is East West Rail. Bedford is uniquely adversely impacted by the East West Rail project, because the preferred six-track route requires the demolition and blighting of homes. Residents have been in limbo for more than five years in unsellable homes. The proposed planning and infrastructure Bill will speed up planning decisions for major infrastructure and house building and seek to reform compulsory purchase compensation rules to ensure that the compensation paid to landowners is fair. The statutory consultation stage is imminent, and I hope the Government will listen to the concerns expressed by my constituents and will not leave people in limbo while decisions are made without their knowledge, as has happened before. If we want to restore faith in politics, we have to ensure that our communities come with us on plans to affect their lives.

    The Universal Studios plan to build a park near Kempston is exciting, and I look forward to working with the Government to make sure we get this potentially huge investment opportunity for Bedford and Britain over the line.

  • Kirsty Blackman – 2024 Speech on the Economy, Welfare and Public Services

    Kirsty Blackman – 2024 Speech on the Economy, Welfare and Public Services

    The speech made by Kirsty Blackman, the SNP MP for Aberdeen North, in the House of Commons on 22 July 2024.

    I congratulate all those who have made their maiden speeches today, particularly the hon. Member for Whitehaven and Workington (Josh MacAlister), who gave an excellent speech. As with many of the maiden speeches, now I really want to visit his constituency. It just sounds like an absolutely amazing place. I particularly congratulate all the new Members who have come from a council background. Being a local councillor sets them up fantastically for coming here. It means they are under no illusions about the hard work that is required to be put in for their constituents and the people who live in their area. Congratulations to all of them.

    I also congratulate the Chancellor on being the first female Chancellor. As the first woman in this place ever to lead on the economy, although I have been followed by a number since, I am incredibly glad to see one on the Government Benches. I hope that, as she said, her tenure lasts significantly longer than those of some of the Chancellors we have seen in recent times.

    Today’s debate is taglined “Economy, welfare and public services”. Apart from the maiden speeches, speeches focusing on anything other than economic growth have been fairly few and far between. I will not for one second deny that economic growth is important, but the whole point of it is what we then do with it. It is about what we do with the extra tax take generated from the growth we have created. There is no point in having growth for growth’s sake. There is no point in having economic growth, and no point in the Conservatives saying how fast the UK is growing compared with other countries in the G7, if the same handful of people are getting richer and richer and the vast majority of our constituents are struggling harder than they ever have before.

    We need to ensure that the economic growth and the increase in the tax take that the Labour party is hoping to deliver involves a benefit for all those who live in these islands and in our constituencies. It is massively disappointing to hear that the five pledges and priorities for the Labour party in government do not have eradicating child poverty at the heart of them. I am really glad the Government are bringing together a discussion taskforce to reduce child poverty, but today they could bring 300,000 children out of poverty and move 700,000 children into less deep poverty simply by scrapping the two-child cap.

    One of my previous colleagues in this place, Alison Thewliss, campaigned incredibly hard on the rape clause—everybody will know of the work she did on that. There are 3,000 women across these islands who are eligible for an exemption from the cap because they have applied under the rape clause. They have had to tell the Government they were raped in order to get an uplift in their benefits. That is horrific, and even if the Government are unwilling to move on the two-child cap they should be doing something about the rape clause and what people are having to prove in order to get the exemption.

    It would be very easy to increase growth, again overnight, by increasing migration. Migration to these islands increases the amount of growth. The economy would immediately have grown if the Prime Minister had gone to the summit with the EU leaders this week and said “Yes, free movement benefits us: it benefits our economy, benefits our society, benefits our young people, benefits our musicians, and benefits so many different groups and individuals. It benefits our culture; it makes this place a better place to live. Therefore we are signing up again to free movement.”

    We need only look at some of the past Budgets, such as a Budget George Osborne gave from the Dispatch Box, when it has said in the Red Book that increasing migration will increase the tax take because of the economic growth it will bring. My constituents and people across Scotland recognise that, and we will always argue for a better migration policy—and if the Government are not willing to do it for all of these islands, we will argue for one tailored specifically to Scotland so that we can make our own decisions that suit the needs of our communities and encourage that economic growth.

  • Josh MacAlister – 2024 Maiden Speech on the Economy, Welfare and Public Services

    Josh MacAlister – 2024 Maiden Speech on the Economy, Welfare and Public Services

    The maiden speech made by Josh MacAlister, the Labour MP for Whitehaven and Workington, in the House of Commons on 22 July 2024.

    Thank you, Mr Deputy Speaker. I pay tribute to the fantastic maiden speeches that we have heard from across the House this evening, including that of the hon. Member for Didcot and Wantage (Olly Glover); I am sure that the whole House is reassured to know that he is not an alien.

    The first and only time I entered this Chamber before being sworn in as a Member of Parliament was as a secondary school citizenship teacher, bringing dozens of teenagers here to see their Parliament. On that occasion, I was required to use my teacher voice a number of times, but that is not something I plan to make a habit of in this House.

    I begin by putting on record my thanks to my predecessor for the now abolished Copeland constituency, Trudy Harrison. We may disagree on matters of policy, but she has been unfailingly gracious to me and generous with her time, demonstrating the “country before party” approach that we can all learn so much from.

    I may be new to this House, but I am not new to pushing Governments to get things done, as Opposition Members will know only too well, and I have worked with a number of Education Secretaries over the years. I founded and led a national charity to get more people into fulfilling careers on the frontline of children’s social work to ensure that every vulnerable child has a champion fighting their corner. From that, I was asked by the last Government to chair a landmark independent review of the children’s social care system. That review found that the disadvantage faced by the care-experienced community in our country should be the civil rights issue of our time. Evidence of that disadvantage is found in worse education outcomes, worse health outcomes and shorter lives, but that disadvantage is fuelled by something that politicians often find too hard to discuss, and that MPs certainly find too hard to mention in this Chamber: the absence of love. I believe every child has the right to be loved, and we have the ability to build a care system that can provide that for them. I hope this Parliament will take up the challenge of addressing this moral outrage. The problem is huge, but the solutions are known, and with enough will, tens of thousands of lives can be transformed.

    It is a great honour and privilege to stand here as the first Member of Parliament for the new Whitehaven and Workington constituency. Whether it is the people of Whitehaven or the good people of Workington who are the jam eaters continues to be a source of fierce debate. Of course, I will remain neutral on that question, as I will on all rugby league-related matters.

    Nowhere is more blessed than my constituency, home to the highest peak and the deepest lake in England, with miles of beautiful coastline and the stunning western part of the Lake district, which has inspired millions. Let me here pay special tribute to our amazing mountain rescue volunteers, our Royal National Lifeboat Institution volunteers—just this week, it will be celebrating its 200th anniversary—and all those who give up their time to volunteer in search and rescue services. I have an interest to declare as a serving mountain rescue volunteer, and I will champion volunteer search and rescue services at every opportunity.

    Behind the doors of the towns and villages across my constituency, you will find the warmest and friendliest marras in the country, people forged by the drama and confidence of the surrounding landscape and people with humility, respect and determination at their core. These are people such as Gary McKee, who ran a marathon every day for a year to raise over £1 million for cancer support; those in the growing network of Andy’s man clubs in our community, tackling the crisis of male suicide that my area faces; and community leaders, such as Rachel Holliday of Calderwood House, giving people a route out of homelessness.

    Our area has also forged those who were not born West Cumbrian, but who made our corner of the world their home, including pioneers and entrepreneurs such as Frank Schon, later Baron Schon of Whitehaven. Frank was an Austrian refugee who fled the Nazis, was bombed out of London and was taken in by a kind Cumbrian farmer. He went on to set up and lead a global chemicals company based in Whitehaven, before later chairing Harold Wilson’s development corporation and going on to serve in the other place. Today, my community is home to dozens of Ukrainian families that could well have the next Frank Schon in them. I hope we can offer those who wish to stay a permanent home here in this country.

    Lord Schon is one famous example, but there are thousands of men and women like him—from Whitehaven to Workington, Gosforth to Egremont, Cleator Moor to Seascale and Flimby to Seaton in the north of the constituency—pioneers, entrepreneurs and grafters who have helped west Cumbria to lead the world. It is because of this graft that my constituency is home to the UK New Balance trainer factory—I am not wearing them right now—and the Iggesund paper mill, which has been experimenting with leading carbon capture technology. It is home to Forth Engineering and React Engineering, and hundreds of other businesses represented by Britain’s Energy Coast Business Cluster, from the coal and iron mines to the steelworks.

    Of course, there is the world’s first civil nuclear power station at the site now famously known as Sellafield, home to a world-leading decommissioning mission, which is stimulating innovation in robotics and AI. We led the world, and we can again. We have the people, the will, the determination and now, thankfully, the Government to do it. Our nuclear heritage and our skilled workforce mean we have what it takes to be the ideal location for the next generation of nuclear power. The Government are determined to make the most of new jobs in the energy transition, to reform our broken planning system and to decarbonise the grid, and these three things offer the opportunity for the people of Whitehaven and Workington to fly.

    A Labour Government with a proper industrial strategy and the right targeted investment could completely transform the economic geography of my community. These are decisions that need to be made to create the growth we have promised and to tackle the climate crisis our planet faces. I am determined to play my part to deliver this Labour Government’s mission and to ensure that west Cumbria feels the maximum possible benefit of the change we want to bring about for our country.

  • Olly Glover – 2024 Maiden Speech on the Economy, Welfare and Public Services

    Olly Glover – 2024 Maiden Speech on the Economy, Welfare and Public Services

    The maiden speech made by Olly Glover, the Liberal Democrat MP for Didcot and Wantage, in the House of Commons on 22 July 2024.

    Thank you, Mr Deputy Speaker, for the opportunity to give my maiden speech today. I aspire to match the eloquence of the previous speakers in this debate, including the hon. Member for South Antrim (Robin Swann), who gave the most recent maiden speech; his passion for his constituency is very clear.

    I start by paying tribute to my immediate predecessor, David Johnston. I admire the fact that Mr Johnston entered politics because of his passion for social mobility. I have met constituents who have been personally helped by him, and I aspire to follow his lead. I was pleased that the first email in my parliamentary mailbox came from Lord Ed Vaizey of Didcot, Member for the predecessor seat of Wantage between 2005 and 2019, offering his congratulations. That was a warm and encouraging gesture. I arrive in Parliament following a career on the railway, serving the public, and I hope to apply my knowledge and experience to working with others to advance both rail infrastructure and public services in my seat.

    The name of the new Didcot and Wantage constituency is an improvement on the previous name, Wantage, but remains imperfect. While Wantage and Didcot are the larger towns of the three in the seat, residents from Wallingford are aggrieved by their omission. Mr Deputy Speaker, I can assure you and this House that all three towns will have my attention and care. The same applies to the dozens of villages in the seat; I am fortunate enough to live in one of them, Milton. All our villages have a unique character and set of attractions. Pendon museum in Long Wittenham includes an homage in model railway form to the 1930s Vale of White Horse landscape, and there is also the ancient Uffington white horse and the beautiful chalk streams of the Letcombes. The constituency’s economy is diverse: we have the technology and science centres of Milton Park, Harwell campus and Culham near to farms that have been passed down through generations. Didcot hosts many industrial and business units, and residents benefit from the great western main line for fast commuting to and from London. Organisations such as Didcot TRAIN, the DAMASCUS youth project and Sustainable Wantage illustrate the strong culture of public service and volunteering.

    My constituents rightly have high expectations. During the election campaign, one of them highlighted the lack of biographical detail in a leaflet about me, and asked me whether I was a doctor, a surveyor, a banker, a teacher, or an alien from outer space. Despite my love of the voyages of the crew of the USS Enterprise, Mr Deputy Speaker, I can reassure you and everyone in this House that I am not an alien. Of course, my constituency contains many non-humans, albeit perhaps not aliens. Many a local party volunteer has come to tire of my frequent canvassing of cats as well as humans. On occasion, this has helped my cause: while I was in conversation with one voter, his cat, Matthew, intervened. Matthew took a strong liking to me, with a great deal of leg-rubbing, even sitting on my lap on the pavement. The voter, astonished, told me that Matthew hates nearly everyone, and that his favourable verdict on me would be taken into account.

    Turning to the subject of today’s debate, my constituency shares many of the same challenges as the wider country. Access to GP appointments is often difficult, particularly in Didcot, which continues to yearn for a new GP surgery in Great Western Park. NHS dentistry barely exists, and sewage dumping in our waterways is a great concern, as are proposals for a large reservoir near Steventon and the Hanneys. Many residents desire to walk and cycle more, but need pleasant and safe routes and paths in order to do so, and while the constituency benefits from fast railway connections, the reliability and capacity of the service provided can be somewhat patchy, and we continue to lack a railway station serving Grove and Wantage.

    Perhaps the greatest issue on constituents’ minds is the cost of housing and recent, very substantial increases in the numbers of houses. I commend the Government on their commitment to genuinely affordable housing, but ask them to bear in mind that residents would be more supportive of housing growth were the health, education, and transport facilities needed to support it delivered in parallel. I promise to work tirelessly for my constituents in the pursuit of progress on these issues, and thank them again for the opportunity to serve. It is a genuine honour to be stood here, and I look forward to working with Members from across the House to achieve those aims.

  • Chi Onwurah – 2024 Speech on the Economy, Welfare and Public Services

    Chi Onwurah – 2024 Speech on the Economy, Welfare and Public Services

    The speech made by Chi Onwurah, the Labour MP for Newcastle upon Tyne Central and West, in the House of Commons on 22 July 2024.

    I congratulate all the hon. Members who have made their maiden speeches on their passion and their commitment to their constituency, which has come across so well. Age does not wither, nor custom stale the privilege of being in this place, and I too want to thank my constituents, who have returned me to Parliament to represent them all and the wonderful city we call home.

    I spent 14 years on the Opposition Benches, standing up for my constituents against a Government who were bearing down on them. It is absolutely fantastic to speak from the Government Benches in support of a Government who will help and empower them. Some Conservative Members have been painting a rosy picture of our economic inheritance, but the message of working people in Newcastle upon Tyne Central and West was clear and consistent: “We need change.” It is not hard to see why. People are worse off; over a third of children in Newcastle upon Tyne Central and West live in poverty; and over 2,000 households in Newcastle are homeless. Those are just a few of the issues that my constituents face, so please, let us not pretend that we should be grateful to the last Government.

    But everything changed on 4 July. Indeed, as I was buying my fish supper last Friday at one of the excellent fishmongers in Grainger market—locally smoked cod, since you ask—they told me that on 5 July, sales of halibut soared. That is an expensive fish, so they took that as a sign of celebration, but also of optimism, hope, and confidence in a better future. There is nothing fishy there, because the Bills set out in the King’s Speech will give Newcastle our future back. Our destiny will be in our own hands, with the English devolution Bill and the better buses Bill giving local leaders such as our fantastic Mayor Kim McGuinness the powers needed to drive growth and prosperity locally. Our region’s immense potential in the green industries of the future will finally be unlocked through the national wealth fund and Great British Energy; planning reform will take the handbrake off building new homes and spaces for business, making us an even greater city with an economy that provides great jobs and good homes for all Geordies; and by expanding the rights of workers, tenants and minoritised groups, the Government will make sure that work pays and everyone in Newcastle enjoys their fair share of our national prosperity.

    Having worked around the world as an engineer, I have been proud to champion science and innovation in Newcastle and across the UK. I am now privileged to have both of Newcastle’s fantastic universities in our constituency, and our city is looking forward to building a proper industrial strategy once again—one that can boost our universities as drivers of inclusive economic growth. Unlocking private investment through measures such as the national wealth fund and the recently announced pensions review will super-charge spin-outs and start-ups in the north-east, and I believe that sites such as Helix—home to innovative businesses and entrepreneurs in cutting-edge industries—are a tantalising glimpse of the future of Newcastle.

    Technology has the power to make our constituents’ lives so much better, and measures such as planning reform will make that a reality. As an ex-shadow science Minister, I have spoken to Lord Vallance, as he begins his ministerial role, to offer my support, and to make the case for investment in regional research and development. I know that the Department for Science, Innovation and Technology team are already committed to opening up careers in science to everyone, getting money outside the golden triangle and connecting science to industrial strategy, healthcare and economic growth.

    As I have said, this Government inspire hope that has been lacking in Newcastle— that is, apart from on match days. That is why, as the MP for St James’ Park, I welcome the football governance Bill. From Mike Ashley to the Saudi Public Investment Fund takeover, football governance has been a thorn in our side, and Geordies around the world will welcome the safeguarding of our precious football club.

    My constituents sent me to this place because our party promised change.

  • Robin Swann – 2024 Maiden Speech on the Economy, Welfare and Public Services

    Robin Swann – 2024 Maiden Speech on the Economy, Welfare and Public Services

    The maiden speech made by Robin Swann, the Ulster Unionist Party MP for South Antrim, in the House of Commons on 22 July 2024.

    It is with honour and humility, and a sense of trepidation, that I rise to make my maiden speech. I think of those who have spoken here before and the gravity and seriousness of the issues that have been debated and discussed. I hope that this Parliament is no different in how it discharges its duties, and that we in this intake of new Members live up to those standards. I congratulate the many new Members on their maiden speeches, which have set a high bar.

    Like everyone else in this House, I wish to thank sincerely those who placed their faith and trust in me by electing me. I am indebted to the electorate of South Antrim for the support that I have received from across the entire community—indeed, entire communities—in my election to this place. I also thank the dedicated campaign team who supported me during what was an honourable campaign.

    I pay tribute to my predecessor, Mr Paul Girvan, not just for his tenure as a Member of this House, but for his time as a Member of the Northern Ireland Assembly and as a local councillor. South Antrim has moved between Paul’s party and my Ulster Unionist party on a number of occasions. With that, I carry the privilege and honour of returning the UUP to this place after a seven-year absence, and the charge and responsibility of bringing a moderate and reasoned Unionist voice from Northern Ireland, in my party’s tradition of working positively and constructively with all to achieve the best outcomes for all our people, and of working across this House to strengthen our Union and to deliver a Union for all.

    I turn now to my constituency of South Antrim. I want those here this evening to know what a fantastic part of our country it is. Like so many constituencies, it has a mix of main towns—Ballyclare and Antrim—and a range of what were once small villages but are growing into large villages, such as Toome, Doagh, Crumlin, Randalstown, Templepatrick, Ballynure and many more. Much of the constituency is a large and productive rural area, while part of the expanding urban area of Glengormley is merging with north Belfast in Mossley and Mallusk.

    South Antrim is home to industry, research and cutting-edge business in large and small employers. Indeed, I look forward to working with the Chancellor and her Government in further supporting those businesses through the Bills in the King’s Speech, and especially through the national wealth fund. South Antrim is the base of Belfast international airport, which I believe has a real opportunity if it gets its much-needed rail link and the further expansion of Aldergrove and our Royal Air Force base. That is why I believe that we also need a UK air transportation strategy, which I may raise later in the Adjournment debate—if the hon. Member for Strangford (Jim Shannon) will take an intervention from me!

    South Antrim’s agricultural sector is another pillar of our community and contributes significantly to our local economy. Our annual Antrim agricultural show celebrates that agricultural heritage by bringing together farmers, producers and visitors from across the country and showcasing the best of rural life and promoting a strong sense of community. It is on this Saturday at Shane’s castle, and I would encourage and welcome anyone who wants to attend.

    Lough Neagh—the largest freshwater lake in the British isles—is another jewel in South Antrim’s crown, but it is currently struggling because of neglect, like many of our waterways. However, the Stormont Executive’s new recovery programme is in place, and I hope that—with national support, given the need for action on our waterways—Lough Neagh will once more be a tourism and recreational attraction for visitors from far and wide.

    A number of issues debated over the past few days will have a direct impact on the people of South Antrim, Northern Ireland and the United Kingdom—none more so than the future and support that the Government will offer our national health service and those who rely on and work in it. The Government have the opportunity to reverse the past years of neglect. Health may be devolved, but that does not mean that we in this place can abdicate all responsibility for our national health service. We have the excellent Antrim area hospital in my constituency, but it needs resource and support to develop its potential. As a former Health Minister of Northern Ireland, I know that we have plans to deliver better services, but change needs recurrent resources, which have been lacking in recent years. I look forward to working with this Government to rebuild our national health service.

    I know that I am speaking to the converted on how great South Antrim is, because I have been overwhelmed by the number of Members from across the House who have approached me to tell me of a relative or friend who lives in my constituency. Indeed, I look forward to representing them and all my South Antrim constituents in this place.

  • Ruth Cadbury – 2024 Speech on the Economy, Welfare and Public Services

    Ruth Cadbury – 2024 Speech on the Economy, Welfare and Public Services

    The speech made by Ruth Cadbury, the Labour MP for Brentford and Isleworth, in the House of Commons on 22 July 2024.

    It is an honour to be re-elected for the fourth time to the redrawn seat of Brentford and Isleworth, and to follow such impressive maiden speeches, particularly that of my hon. Friend the Member for Cities of London and Westminster (Rachel Blake), in whose constituency we all work.

    After nine years sitting in Opposition it is a pleasure to be on the Government side of the Chamber and to support this Government’s legislative programme, which brings hope, opportunity and change for my constituents and for the country at last. I will focus my response to the King’s Speech on the Government’s ambitious proposals around transport policy—not only because it is an area I have long been involved with, having served on the Transport Committee for five years and chaired five all-party parliamentary groups on transport, but because transport was brought up regularly on the doorsteps in this last election.

    The theme of today’s debate is economy, welfare and public services. Effective transport policies are essential to the change we need to see in all three areas, as well as in addressing our climate crisis, so I am pleased to see the bold and ambitious plans set out by my right hon. Friend the Member for Sheffield Heeley (Louise Haigh) and her team to do just that. For access to work, education and health services, for supplying our manufacturing and retail sectors and for supporting our wellbeing and family life, decent transport choices are essential, and nowhere are they more needed than in the new communities that will be built, if the traffic on the roads to and around them is not to grind to a halt. Whether in city, town or countryside, we need the full range of transport options—ones that are affordable, accessible, efficient and environmentally sound.

    On buses, I am delighted that, through the better buses Bill, the Government will end the ideological and control-freakery policy of banning local authorities from running their own municipal bus companies. Such companies were killed off by the Thatcher Government in a bout of ideological rage, with only London retaining a regulated bus service. The rest of England should have what we have in London: regular day, evening and weekend services, simple fare structures, and high standards of safety, accessibility and passenger information. Those are being developed by the Mayor of Greater Manchester, Andy Burnham, and I look forward to seeing other local authorities—of all parties, I am sure—following his example.

    To be an alternative to driving, and for us to cut road congestion and pollution, rail travel must be reliable. I am therefore delighted to see Bills to create Great British Railways and to bring train operations into public ownership. That is essential for a simplified and unified rail system that focuses on improving passenger services while getting value for the taxpayer. Our constituents, and many Members of this House, have had terrible experiences of cancelled trains, or of sitting on the floor for hours despite booking a seat. We will now see a Government and a Department that do not use transport as a cudgel in our culture wars, or as a crude electoral hammer to override local authorities that want to introduce sensible measures to encourage cycling and walking.

    Transport is at the heart of the challenge of national renewal that we have set ourselves: kickstarting economic growth, boosting jobs and living standards, and building sufficient homes in sustainable communities. Of course there are challenges ahead—not least in further growing capacity in our overloaded rail network. I welcome the plan to improve east-west connectivity across the north of England, but funding further increases in rail capacity will unfortunately be financially unsustainable until we see the economic growth that the Chancellor is working on. Aviation expansion is acceptable only if it passes the four tests that we set ourselves in opposition: cutting carbon dioxide emissions, overcoming local environmental impacts, providing regional benefits across the UK, and deliverability. I know that the new Secretary of State and ministerial team will work across our travel and transport sectors to improve transport connections to the benefit of our country as a whole.