Economic Growth Debate

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Department: HM Treasury

Economic Growth

Jack Brereton Excerpts
Tuesday 14th November 2023

(5 months, 2 weeks ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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My hon. Friend speaks powerfully on what he knows well. On top of the big challenges with house building and the Government getting rid of their housing targets, the number of homeowners in arrears on their mortgage is also up a staggering 18% compared with a year ago. The Conservatives are no longer the party of home ownership. Higher housing costs are the last thing people need in a painful cost of living crisis. It should never have happened in the first place, and it must never happen again.

Jack Brereton Portrait Jack Brereton (Stoke-on-Trent South) (Con)
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Will the right hon. Lady enlighten us on the Labour party’s views on our precious green belt, because my constituents are terrified that a Labour Government will build houses all over it?

Rachel Reeves Portrait Rachel Reeves
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Labour’s approach is brownfield-first. We also know that there is land designated as green belt that is no such thing. For example, there is a petrol station in Tottenham that people cannot get planning permission for, because it is classified as green belt. People want that land built on, and I think we can all agree across the House that we need reforms to allow that to happen, but this Government scrapped the house building target. Home ownership is falling under the Conservatives. The Conservatives were once the party of home ownership; they can no longer claim that mantle. It is Labour today that is the party of home ownership and of aspiration for working families.

Today the Conservatives can show that they have learned a lesson from last year. They can back Labour’s commitment to strengthen the Office for Budget Responsibility in our amendment. We believe that where a fiscal event is making significant and permanent tax and spending changes, the OBR should be able to freely and independently publish a forecast of the impact of those changes. No Government of the day should be able to stop it from doing so. In the event of an emergency, where changes must be introduced at speed and a forecast cannot be produced in time, the OBR would be allowed to set a date for when it can publish a forecast. The public should be able to read an independent assessment on the health of our economy, to understand the consequences of proposals and to see the prices on the menu.

The amendment should not be remotely controversial, and I look forward to seeing Conservative MPs and Ministers joining us in supporting this sensible measure today. If they do not, it will show that they have not learned a thing, and that the Conservatives continue to present a real and present danger to our economy.

What will be the legacy of 13 years of this Conservative Government? They have damaged our economy, trashed our public services, failed to invest in the industries of the future, squeezed people’s living standards and caused a calamitous cost of living crisis. A Labour Government will clean up that mess. We will clamp down on waste and fraud from the pandemic, because the country is sick of being ripped off and we want our money back. We will tax fairly, spend wisely and grow the economy. We will get the NHS back on its feet. The Conservatives have broken our public services before, but Labour Governments have fixed them in the past, and we will do so again.

As bad as the public finances are under the Conservatives, there will always be choices, so we will abolish the non-dom tax status and use that money to help our NHS tackle record waiting times and introduce free breakfast clubs for all primary school-aged children. We will close the tax loophole that gives private equity managers a huge tax break. We will close the tax loopholes benefiting private schools, which gain from not having to pay VAT and business rates, and use that money to support the 93% of children attending our state schools. If the Conservatives want to have a fight over who is most aspirational for our young people when the ceilings are crumbling in our schools, I say bring it on.

After 13 years of Conservative Government, the questions that people will be asking at the next election are simple: “Do my family and I feel better off after 13 years of Conservative government? Do our schools, our hospitals and our transport infrastructure work better than when the Conservatives came to office 13 years ago? In fact, does anything in Britain work better today than when the Conservatives came to office?” The answer is a resounding no. This King’s Speech is not remotely up to the task of changing our country for the better and meeting the challenges head on.

Real change cannot come from five more painful years under the Conservatives, but only from a fresh start with Labour. The Labour party is the only party of economic responsibility and with the ability to provide the change of direction and confidence that our country needs. As this King’s Speech shows, this desperate, decaying Government are out of ideas, out of excuses and increasingly out of time. If the Prime Minister and Chancellor are so confident about the Conservatives’ record, let us take it to the ballot box and let the British people decide.

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Jack Brereton Portrait Jack Brereton (Stoke-on-Trent South) (Con)
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It is a pleasure to speak in this debate. The first King’s Speech in over 70 years outlined the Government’s commitment to deliver for the British people, including the people of Stoke-on-Trent. We have a Government focused on delivering for the whole country and cities like Stoke-on-Trent thanks to levelling up and, of course, thanks to Brexit. I am glad that the topic of the debate today reflects that understanding. Those beyond London must benefit from growth and we must no longer be left behind.

After decades of decline under Labour, Stoke-on-Trent’s fortunes have revived. Our iconic industry, ceramics, gives our city its sense of place as the Potteries and our sense of purpose as a local centre of world-class manufacturing for the global market. Provided that free trade is rules based, particularly against outrageous dumping, our ceramics industry has much to gain from the trade Bill. That includes manufacturers of advanced technical and industrial ceramics upon which our future industries depend. We need to help our fantastic businesses in north Staffordshire to trade right around the world more of the amazing products that we produce. It is also vital that we further support energy-intensive sectors, which provide important skilled jobs. Measures to address energy security are welcome, but further support is needed. Alongside a number of colleagues, I have recently written to the Chancellor to express the importance of supporting the ceramics sector with energy costs and not applying too rigid net zero policies when technology is yet to offer viable alternatives. If we do not get this right, it risks offshoring an industry to countries that have a far worse environmental and human rights record.

Digital industries are also increasingly important in Stoke-on-Trent, as we emerge as a leading hub for gaming. Indeed, our industrial heritage buildings are being repurposed for gaming industry disruptors, who appreciate, and feed creatively from, those buildings in all their quirky and authentic glory. According to Ofcom, gigabit full fibre connectivity in Stoke-on-Trent enables download that is 15 times faster and upload that is 70 times faster than the UK’s average, so I welcome the Digital Markets, Competition and Consumers Bill, which will safeguard small and disruptor firms from any egregious behaviour by bigger players.

The Government have been extremely generous in providing investment through the transforming cities fund, levelling-up fund, heritage action zones and more. Our town centres and high streets, however, need further investment and it remains disappointing that Stoke-on-Trent has missed out previously on future high streets funding, town deal funding and the latest round of funding for towns, which did not include a single town in the whole of Staffordshire. I encourage the Government to do more to help our high streets across north Staffordshire with planning reforms and, of course, investment.

More funding is always welcome, but we also need the city council, Network Rail and others to get on with actually delivering things. It is concerning that the Labour council has already reverted to type, rolling back on levelling-up schemes, lacking entirely the ambitious leadership our city needs. We also see a lack of ambition when it comes to our local public transport. Yes, we need to improve bus services, and we are delivering that through bus service improvement funding, but rail improvements are also vital to our city, and should not be flippantly dismissed as we have seen Labour do locally. Only rail can provide a rapid alternative to cars, reducing road congestion and improving air quality for all.

Fortunately, the Government have had the wisdom to see that phase 2 of HS2 failed to deliver good value. For Staffordshire, it would have meant all the pain with no gain. The £36 billion released is now available for local schemes that will make a real difference. The reopening of Meir station and the Stoke to Leek line—including a station at Fenton Manor—must now be fast-tracked and delivered. Meir has some of the worst transport deprivation in the country. By bus it can take up to an hour to reach the university, the college and the main station. Reopening Meir station will put those destinations reliably within 10 minutes by rail, and that will level up many more life chances locally than HS2 could ever achieve.

We also need to make rapid progress with lifts at Longton station, and develop plans for a station to serve Trentham. Levelling up our city’s transport infrastructure so that it is back where it should be is the surest way of levelling up its potential as a place to live, work and visit. The inclusion in the King’s Speech of a draft rail reform Bill is welcome, not least because Great British Railways will be based in Derby, and I suspect that nothing will increase the chances of improving services on the Crewe-Derby-Nottingham line through Stoke-on-Trent quite as much as having GBR on it. We particularly need to increase the frequency of trains on that line to two an hour. For too long, east-west rail links like this have been dismissed. However, I also look forward to investment in the local elements of the national road infrastructure work. Investment in junction 15 of the M6 and the A50/A500 corridor, for instance, is long overdue.

The foundation for our success as a growing city in a growing national economy will lie in ensuring that it is a safe place to be: safe from crime and antisocial behaviour, safe from the scourge of monkey dust, and safe from the most heinous criminal offenders. I therefore welcome the Criminal Justice Bill, the Victims and Prisoners Bill and the terrorism Bill for the part that they will play in keeping us safe.