The speech made by Rachel Blake, the Labour MP for the Cities of London and Westminster, in the House of Commons on 5 January 2026.
I am grateful to the Foreign Secretary for her remarks. She has talked about instability in the region and the need for grassroots investment in order for there to be a peaceful transition. Will she share with us the assessment she has made about the impact of economic instability in the region and the role of businesses in the region and how that instability could feed into and damage the possibility of a peaceful transition?
Yvette Cooper
My hon. Friend is exactly right. The nature of the economic crisis in Venezuela over the last decade has pushed huge numbers of Venezuelans into extreme hardship. It is one of the reasons why so many Venezuelans have left the country; an estimated one in four Venezuelans have left the country over the last 10 years as a result. This should be a country with a very strong economy. It is very important to build that economy up, but crucially it has to be to the benefit of the people of Venezuela, not criminals or corrupt regimes.