Category: Economy

  • Anneliese Dodds – 2020 Comments on Threat to Businesses

    Anneliese Dodds – 2020 Comments on Threat to Businesses

    The comments made by Anneliese Dodds, the Shadow Chancellor of the Exchequer, on 21 December 2020.

    For businesses and workers right across the country, this winter is going from bad to worse. They are craving certainty and leadership from the Government but the Chancellor is still nowhere to be seen.

    People understand that these are extraordinary times, but the UK Government’s irresponsible choices mean we have been much harder hit, with the steepest recession of any major economy.

    It’s time for the Chancellor to front up, do the right thing and speak to the British people about the economic challenges we face and the support he is planning to offer.

  • Pat McFadden – 2020 Comments on the London Capital and Finance Scandal

    Pat McFadden – 2020 Comments on the London Capital and Finance Scandal

    The comments made by Pat McFadden, the Shadow Economic Secretary to the Treasury, on 17 December 2020.

    This scandal represents a shocking failure of supervision in which some people lost their whole life’s savings.

    The primary responsibility lies with those who ran London Capital and Finance and misled investors. But many people trusted this company because it was regulated by the FCA, even if individual products were not, and that trust was breached.

    It is only right that the Government has set up a compensation scheme. But this case raises broader questions about how the FCA regulates financial firms and the products they sell, especially when its responsibilities are about to expand significantly after Brexit.

  • Anneliese Dodds – 2020 Comments on Financial Stability Report

    Anneliese Dodds – 2020 Comments on Financial Stability Report

    The comments made by Anneliese Dodds, the Shadow Chancellor of the Exchequer, on 11 December 2020.

    Small businesses are the backbone of our economy. They have been hit hardest by the pandemic, and now face a huge cashflow problem. Many have already taken on significant debt just to make it through. Today’s report shows they face a worrying future.

    Labour has repeatedly called on the Government to set out a plan for rebuilding business and tackling high levels of corporate debt. Without that, we risk rising insolvencies and yet more job losses.

    The Government needs to do the responsible thing and act now to help our small businesses.

  • Anneliese Dodds – 2020 Comments on Latest GDP Figures

    Anneliese Dodds – 2020 Comments on Latest GDP Figures

    The comments made by Anneliese Dodds, the Shadow Chancellor of the Exchequer, on 10 December 2020.

    Today’s data shows that even before the second national lockdown, growth was grinding to a halt. The UK has had the sharpest recession of any G7 economy and is on course for the slowest recovery.

    This is down to the Government’s irresponsible choices. Its failure to fix test, trace and isolate and chopping and changing over economic support has led to unnecessary job losses and businesses going to the wall.

    The Chancellor must now act responsibly to get us through the spring with effective, targeted support for businesses and individuals right across the country.

  • Ed Miliband – 2020 Comments on Employment in Bridgend

    Ed Miliband – 2020 Comments on Employment in Bridgend

    The comments made by Ed Miliband, the Shadow Business Secretary, on 8 December 2020.

    It’s crushing news the Grenadier car will now be built in France rather than Bridgend, especially following the closure of Ford’s plant leading to scores of highly-skilled jobs lost.

    Boris Johnson’s dithering, delay, and failure to deliver appears to have led to the loss of two major employers in the area – and it’s devastating that communities in Wales will pay the price of his incompetence.

    It’s also a big betrayal of the promises made by the Conservatives during the election to deliver jobs and investment in Bridgend.

  • Bridget Phillipson – 2020 Comments on Brexit and the Taxation Bill

    Bridget Phillipson – 2020 Comments on Brexit and the Taxation Bill

    The comments made by Bridget Phillipson, the Shadow Chief Secretary to the Treasury, on 8 December 2020.

    With 23 days until the end of the transition period the Government has brazenly and recklessly pushed the country to the brink of a no-deal Brexit.

    This irresponsible, last-minute approach explains why the Government is in chaos tonight – but the damage done to Britain’s global reputation by threatening to break international law will last for years to come.

    Labour wants a deal to be done, as this uncertainty is inflicting untold damage on businesses that still have no idea today what conditions they will be trading under next month.

    As Britain counts the cost of this Government’s irresponsible decisions, it’s clear the Conservatives have relinquished any claim to be the party of the economy.

  • Graham Stuart – 2020 Comments on the General Export Facility

    Graham Stuart – 2020 Comments on the General Export Facility

    The comments made by Graham Stuart, the Minister for Exports, on 7 December 2020.

    UKEF’s support for smaller businesses is shifting up a gear. The new General Export Facility will make a huge difference for entrepreneurs who need the financial backing to go global and benefit from our free trade agreements. It will help us bring genuine optimism back to exporters.

    We were the only top ten exporting nation to grow exports last year. I’m determined for that success to continue as we recover from Covid-19. By transforming access to the world’s best export credit agency, we can unlock the entrepreneurial energy needed to make that a reality.

  • Mims Davies – 2020 Comments on the Job Entry Targeted Support Programme

    Mims Davies – 2020 Comments on the Job Entry Targeted Support Programme

    The comments made by Mims Davies, the Minister for Employment, on 5 December 2020.

    Many people are sadly facing unemployment due to the pandemic, for the first time in years, and will need help to build their confidence, get back on their feet and apply for new roles – JETS gives people the tools and support they need to succeed.

    During such a challenging time, our new employment support is already helping thousands of jobseekers to get back into work and I’ve met with JETS providers to see first-hand the vital help this programme has already given people across Britain.

    Our Plan for Jobs is supporting people of all ages – we’re doubling the number of Work Coaches across our Jobcentres, creating thousands of opportunities for young people through our Kickstart Scheme and our SWAP scheme is helping people retrain in new industries.

  • Ed Miliband – 2020 Comments on Small Business Saturday

    Ed Miliband – 2020 Comments on Small Business Saturday

    The comments made by Ed Miliband, the Shadow Business Secretary, on 5 December 2020.

    Shops, pubs, manufacturers, hotels and hairdressers, beauty salons and suppliers, breweries and bakeries, and small businesses of all kinds have been on the frontline of the economic crisis.

    This is a day to celebrate the millions of these small businesses at the heart of our communities and the workers they employ. They represent the best of our country.

  • Keir Starmer – 2020 Comments on Small Business Saturday

    Keir Starmer – 2020 Comments on Small Business Saturday

    The comments made by Keir Starmer, the Leader of the Opposition, on 5 December 2020.

    Small businesses across the country have made a monumental effort during this crisis. They have stepped up when it was most needed, supporting their local communities and making huge sacrifices to help tackle the spread of the virus. Now we must repay them.

    The Government must ensure businesses, particularly those facing the toughest restrictions, are supported to see them through the winter.

    This Small Business Saturday and beyond, we can all do our bit to stand by small businesses, by shopping safely where we live, including online, or ordering from local restaurants.

    On behalf of the Labour Party I want to celebrate the small businesses who are at the heart of our communities. We will stand by them over the crucial months ahead in fighting for the support they need.