The Economy Debate

Full Debate: Read Full Debate
Department: HM Treasury
Wednesday 8th July 2020

(3 years, 9 months ago)

Commons Chamber
Read Full debate Read Hansard Text Read Debate Ministerial Extracts
Suzanne Webb Portrait Suzanne Webb (Stourbridge) (Con)
- Hansard - - - Excerpts

I will keep this short and sweet, Mr Deputy Speaker, as time is precious and you do not need me to reiterate what we know is a bold and decisive plan—a plan for jobs; a plan with people and their livelihoods at its heart.

The Chancellor has yet again acted with a keen eye to preserving employment and our fiscal and economic capacity. As we recover from covid-19, the No. 1 priority of the Government has always been to protect jobs. Just as the virus scythed through society and did not articulate who it was going for, any economic impact will cut deep swathes. It will not discriminate; it will cut across us all. What we must remember is that this time it is not an endogenous shock triggered by huge imbalances; it is not man-made, as it has been in the past by Labour Governments. This is a slowdown necessitated by covid-19 and we have seen decisive action by this Government, who for the last few months have given us stabilisers to protect our livelihoods and who now recognise that we need to get the economy back into a higher gear.

My No. 1 priority as the MP for Stourbridge has always been to protect jobs. As a youth in the early ’80s, I saw the impact of unemployment on young people. That, combined with my strong belief in the nobility of work, means that I am over the moon about the Chancellor’s kick-start scheme, which will give 16 to 24-year-old youths the best possible chance.

I make an unabashed plug to get nail bars and beauty salons open. They are often run by people who have been on traineeships themselves and who now run their own businesses, proving that traineeships work—they are capitalists at their finest and of the future. Please, let us get them open.

This Government are giving us the tools to enable, facilitate and empower us all. The virus is not of our making, but we must make the best of it. We must be transformational and dig deep in the spirit of entrepreneurism. If you cannot sell it, online is your new high street and your new export opportunity. This is about being entrepreneurial, about foraging for opportunities and of course about jobs, jobs, jobs. This has been at the heart of my recovery plan for Stourbridge. I also welcome the joint announcement today from Andy Street and the Department for Work and Pensions that youth hubs will be set up, helping to join up local employment and training services and to ensure that they are targeting young people. This builds on the already great work being done by our jobcentres across the west midlands.

The Government’s support throughout the crisis has been decisive, and it will be a major factor in how we will come out of this period It is clear from the actions that the Government have taken that they are not a Government who leave people behind. They are a Government who put people and their livelihoods at their very heart. However, this will depend on our shared responsibility to contain the virus and, of course, on whether a vaccine—

Nigel Evans Portrait Mr Deputy Speaker (Mr Nigel Evans)
- Hansard - -

Order. We have to move on.

--- Later in debate ---
Rob Butler Portrait Rob Butler (Aylesbury) (Con)
- Hansard - - - Excerpts

We are here to talk about the economy and the economy means numbers. In Aylesbury, 14,500 jobs have been protected by the Government’s furlough scheme and almost 5,000 local people have benefited from the self-employed income support scheme. That is good news. However, there are worrying numbers, too. Not everyone has been able to access Government help and jobs have already been lost. The unadjusted claimant count in Aylesbury in May was two and a half times higher than in March, and in the 18 to 24-year-old age group the rate of increase in unemployment was even greater. That is why the kick-start scheme announced today by the Chancellor will be extremely welcome in my constituency, as will his entire plan for jobs, jobs, jobs.

Behind the numbers are the names: the people who have continued to work throughout the coronavirus crisis to help to keep the local economy on its feet and prepare it for the future. People like Diana Fawcett, the town centre manager, who has inspired and assisted the market stall holders and independent traders, many of whom have benefited from the bounce back loan scheme. The people who have continued to invest, ready for the return of a more normal life. People like Karman and Greig at the Harrow pub, who served takeaways so they could afford to redecorate and draw in new customers, and who will now benefit from the VAT cut on hospitality and “eat out to help out”. Or Ben Moult, who has seen a gap in the night-time economy and converted a clothes shop into a restaurant with Buckinghamshire’s first roof terrace bar. Or councillors Bill Chapple and Steve Bowles and the teams they lead at Aylesbury Garden Town, which promises to be smart, sustainable, accessible and inclusive. Or students at Aylesbury’s university technical college, who will be the next generation of apprentices bringing much needed vocational skills to construction and computing.

There is a theme underlying those numbers and names: a theme of resilience and readiness for the economic challenges ahead. Thousands of houses are planned locally which will contribute to the Prime Minister’s ambition to build back greener, with an eco-friendly approach to help answer the concerns of the passionate campaigners from last week’s “The Time Is Now” mass lobby. The local plan already embraces the change heralded by the new planning regulations announced last week, which will transform our town centres into community hubs where people want to live, work, visit and invest.

To make all that a reality requires, yes, infrastructure funding from central Government to get our traffic flowing and ensure we have the schools and the health centres we need for our fast growing population, but our economy is not just about money. For our future success we need a spirit of entrepreneurship where risk-takers are rewarded. We need bold thinkers with imagination about what our towns are for. In Aylesbury, we have them. In Aylesbury, we stand read to be at the forefront of initiatives to build a new economy.

Nigel Evans Portrait Mr Deputy Speaker (Mr Nigel Evans)
- Hansard - -

Until 6.44 pm, Jim Shannon.