IMF Economic Outlook

Patrick Grady Excerpts

Tuesday 31st January 2023 Commons Chamber

[James Cartlidge]

Of course, the hon. Lady knows about the work that is happening across Government in respect of the protocol. She talks about our “economic decline”, but let me be absolutely clear: since 2010, the UK has grown faster than France, Japan and Italy. She knows that, as I said earlier, 14 EU countries have higher inflation than we face at the moment. These are global challenges that we face, but we have the strengths to get through them. One example, as the Chancellor pointed out on Friday, is that there are only three economies in the world with a £1 trillion tech sector. Tech is a huge part of our future economic growth. One of those countries is China, one is the United States, and the other, I am pleased to say, is the United Kingdom.

[Patrick Grady (Glasgow North) (SNP)]

There is a popular café not far from here on Regency Street. This morning, a sign in the window said: “Breakfast only today. Sorry, we are badly understaffed”. That seems to chime with the findings of UK in a Changing Europe that there is a shortfall of 300,000 workers as a result of Brexit and the end of freedom of movement. It seems that Brexit really does mean breakfast. Will the Government admit that their Brexit has taken the UK economy out of the frying pan and into the fire?

[James Cartlidge]

I do not know the specific circumstances of why the café the hon. Gentleman refers to is struggling to recruit; I have no specific knowledge of it. I am sure it offers a wonderful breakfast when it is able to do so. What I can say is, talking in aggregate, and as is our slogan, we are proud to have almost the lowest unemployment for the best part of 50 years. It does present challenges when we have a tight labour market. That is why we think the best way forward is to ensure that we have the apprenticeships, skills and training to deliver the workforce to meet our growth ambitions.