Poundland

Clive Efford Excerpts

Tuesday 3rd November 2026 Commons Chamber

[Kate Dearden]

Business investment grew by 4.8% in the first half of this year, productivity has grown for six consecutive quarters, GDP grew for the first half of 2026, the Office for Budget Responsibility has upgraded its 2026 growth forecast, and whole-economy investment has increased by 6.9% since the start of this Parliament. Let us not go into the back and forth of what our economy is doing; we have a good base for businesses to grow and start up here in our country, and we are proud of it. It is those Poundland employees—the thousands in Scotland who the hon. Member has referred to and the others across the country—who are our priority, and that is what we are working on this week, engaging with the company in a responsible way, as we would all expect a Government to do. We want to protect those jobs and livelihoods.

[Clive Efford (Eltham and Chislehurst) (Lab)]

I welcome the question asked by my hon. Friend the Member for Stoke-on-Trent Central (Gareth Snell). What we have here is an American private equity firm that is able to buy a going concern that is present on many of our high streets; to put its desire for profit above the interests of its workers, as well as the 18,000 workers in the supply chain; and to make a mockery of the Government’s plans for our high streets. If there is a viable bid on the table and we do not have the power to ensure that it is prioritised, why do we not have that power?

[Kate Dearden]

I am proud of our plans for high streets and the announcements the Chancellor made in the Budget last week for businesses across the country. As a Minister, I am proud to work with our retail companies and sectors all across the country to support them to grow and thrive. As I have mentioned, we are committed to asking the company to do everything it can to protect employees and the thousands of suppliers across the country. That is why we are seeking clarity on the situation and the company’s plans. My hon. Friend will have heard me discuss the meetings we are having this week and reiterate that businesses have a responsibility to their employees. It is right for us to put pressure on the company, because we have a responsibility to do so, and ownership brings responsibilities as well as rights.