Financial Inclusion: Young People

Sarah Olney Excerpts

Tuesday 30th June 2026 Westminster Hall

[Sarah Olney (Richmond Park) (LD)]

It is a pleasure to serve under your chairmanship, Sir John. I congratulate the hon. Member for Hertford and Stortford (Josh Dean) on his work to secure this debate and his excellent opening remarks.

The decline of high street services has been an ongoing issue in the UK, with banks and other essential services disappearing at an increasing rate. Local high streets provide a variety of vital services to their local communities, but the current landscape is extremely challenging for many local enterprises. I join other Members by referring to my first job, which was at WH Smith on Camberley High Street; I reflect on how many of the jobs from our small sample this afternoon were in a retail environment on a local high street, and how important that is for young people looking to get their foot on the ladder of a future career.

I am sure that colleagues from across the House have heard from countless local businesses in their constituencies, on their high streets and in the hearts of their communities, about the challenges they face, from the Government’s national insurance contributions rise to sky-high energy bills, and uncertainty about what the Employment Rights Act 2025 means for them. This is placing an unsustainable burden on many businesses and services.

In the past three years, nearly 2,000 bank branches have closed across the UK, due to declining in-person transactions and the rise of online banking. Many villages and small towns now do not have even a single bank, forcing residents to travel long distances for financial services. These challenges are often compounded by limited broadband or limited access to the internet, leading to swathes of people in rural communities being excluded from online services and digital banking. Alternative solutions such as banking hubs are emerging, but there are not enough of them. The Government should be facilitating more to ensure that people across the country can access vital services when they need them and to prevent digital exclusion.

The Liberal Democrats are concerned about the inequality of provision as the 5G network is rolled out. We believe it is wrong that people should be disadvantaged simply because of where they live. I urge the Government to prioritise major investment in broadband for underserved communities. It is deeply concerning that some 2.4 million people are unable to complete basic tasks such as opening an internet browser and that over 5 million employed adults cannot complete essential digital work tasks. It is reported that basic digital skills will become the UK’s largest skills gap by 2030. Beyond that, 1.7 million households have no mobile or broadband internet at home, and around 1 million people have cut back or cancelled internet packages in the past year, as cost of living challenges have forced people to find ways to cut and save. As we live in an increasingly digital world, the lack of access to digital services will exacerbate the difficulties faced by young people in trying to get their first job.

The Liberal Democrats made a manifesto commitment to introduce a national financial inclusion strategy, requiring both the Financial Conduct Authority and the Prudential Regulation Authority to have regard to financial inclusion, such as protecting access to cash, especially in remote areas, supporting banking hubs and expanding access to bank accounts. We are also supportive of the introduction of a fair banking Act in the UK to help to tackle financial exclusion.

Compared with similar economies, the UK has some of the worst levels of financial exclusion, leaving millions without access to essential financial services. Even before the pandemic, over 10 million people in the UK were unable to access affordable credit, with over 3 million resorting to high-cost lenders such as payday loan providers, which often charge extortionate interest rates.

Small businesses also struggle to secure fair financing and receive only a small fraction of bank lending. This has created a multibillion-pound financing gap that stifles economic growth, particularly in underserved regions outside London and the south-east, as well as within marginalised communities. We must do more to bring an end to the affordable credit crisis and help millions of people who are struggling with unsustainable debt.

Regarding broader financial inclusion in education, a lack of financial engagement is an issue that permeates much of the UK beyond the younger generation. Research by TheCityUK shows that the UK has relatively low levels of retail investment compared with international peers, which has implications both for long-term household outcomes and for how effectively domestic savings are channelled into the real economy.

Britain’s investment gap undermines our economic future. The Financial Conduct Authority estimates that around 22 million adults with £10,000 or more in cash savings might be missing out on the benefits of investing, and many small businesses are missing out on the benefits of receiving that investment, which would help them to grow.

The UK continues to have a relatively narrow base of retail participation, with a significant proportion of households not engaging in market-based investment products at all. This limits both wealth creation at the individual level and the breadth of capital available to UK markets. One in four UK adults invest outside their pension, which is the lowest rate in the G7. It is a structural brake on household wealth, economic growth and social mobility.

This is a systemic challenge. Low levels of retail investment reinforce economic inequalities, weaken the link between savers and UK businesses, and reduce the overall effectiveness of the UK’s saving and investment ecosystem. Mobilising long-term savings into productive investment is central to unlocking future growth, strengthening UK capital markets and ensuring that the UK remains internationally competitive.

The investment gap reinforces financial inequality. Those who invest pull further ahead while millions remain outside the wealth creation system. Proactive individual investment can help to bridge the gap, offering the potential for higher returns and greater financial security in later life. However, that requires proper financial education, and the gains are so much greater when young people can start investing earlier and see the value of investing.

The recent review of youth unemployment warned that one in six young people will not be in education, employment or training in five years unless action is taken, with more than 1 million already not in education, employment or training. That is a really alarming figure. The Liberal Democrats repeatedly warned that Labour’s job tax would hammer job opportunities for young people, and that their business rates hikes would kill off high street job opportunities that give so many young people their first job. The Government must urgently take action to unlock the skills and opportunities that young people need to build a future they can believe in, and that includes, critically, ensuring access to financial education, financial services and employment.

Oral Answers to Questions

Sarah Olney Excerpts

Tuesday 23rd June 2026 Commons Chamber

[Rachel Reeves]

I have not only visited my hon. Friend’s constituency, but I went to school there and I am well aware of many of the pubs in Beckenham and Penge. This summer, from this Thursday, the great British summer savings programme will benefit businesses in Beckenham and Penge and around the country. VAT rates on children’s food in restaurants, pubs, cafés and bars will be cut, and children’s entertainment venues in Beckenham and Penge and around the country will also see cuts in VAT.

[Sarah Olney (Richmond Park) (LD)]

T5. Today marks 10 years since the Brexit referendum. Since that date, we have had 10 Home Secretaries, nine Foreign Secretaries, eight Chancellors, seven Defence Secretaries and 6 Prime Ministers. Does the Chancellor agree that such instability has acted as a break on growth in this country and can she set out what she plans to do to reverse that trend?

[Rachel Reeves]

In the first quarter of this year we were the fastest growing economy in the G7. Since I became Chancellor, we have had growth of 2.3%, which is the second fastest rate of growth in the G7. We are growing our economy by bringing investment and stability back to the UK, and businesses are following our lead by investing in our country.

Treasury

Sarah Olney Excerpts

Wednesday 13th May 2026 Written Corrections

The following extract is from Topical Questions to the Treasury on 28 April 2026.

[Sarah Olney]

More than 1.3 million people use lifetime ISAs to save for their first home. The property cap of £450,000 has been frozen since 2017, despite rising house prices, but those buying their first home over that threshold face a 25% penalty. First-time buyers across London are disproportionately affected. Data from February this year showed that the average price paid by a first-time buyer in London was £463,000. Can the Chancellor tell us how she is ensuring that first-time buyers in London are not unfairly disadvantaged by using this saving scheme?

[Lucy Rigby]

The Government are committed to making the aspiration of home ownership a reality for as many people as possible, and we recognise that the LISA is not working for everyone. That is exactly why we have launched a short consultation on the implementation of a new ISA product that will support more first-time buyers.

[Official Report, 28 April 2026; Vol. 784, c. 736.]

Written correction submitted by the Economic Secretary to the Treasury, the hon. and learned Member for Northampton North (Lucy Rigby):

Oral Answers to Questions

Sarah Olney Excerpts

Tuesday 28th April 2026 Commons Chamber

[Rachel Reeves]

My hon. Friend is absolutely right that although Reform-led Worcestershire council said that it would cut taxes, it has instead put them up. That is why I urge people in Redditch and across the country to vote Labour on 7 May.

[Sarah Olney (Richmond Park) (LD)]

T5. More than 1.3 million people use lifetime ISAs to save for their first home. The property cap of £450,000 has been frozen since 2017, despite rising house prices, but those buying their first home over that threshold face a 25% penalty. First-time buyers across London are disproportionately affected. Data from February this year showed that the average price paid by a first-time buyer in London was £463,000. Can the Chancellor tell us how she is ensuring that first-time buyers in London are not unfairly disadvantaged by using this saving scheme?

[The Economic Secretary to the Treasury (Lucy Rigby)]

The Government are committed to making the aspiration of home ownership a reality for as many people as possible, and we recognise that the LISA is not working for everyone. That is exactly why we have launched a short consultation on the implementation of a new ISA product that will support more first-time buyers. That new product will include the Government bonus being paid at the point the individual makes a withdrawal for a home purchase, therefore removing the need for a withdrawal charge.

Spring Forecast

Sarah Olney Excerpts

Tuesday 3rd March 2026 Commons Chamber

[Sarah Olney (Richmond Park) (LD)]

In the three months to December, unemployment reached 5.2%, the highest rate for nearly five years, and youth unemployment has hit a staggering 16%. Training, hiring and retaining a skilled workforce are issues affecting businesses of all kinds across the country. The 2024 Budget added over £5 billion of employment costs on to retailers, almost half of which came from the changes to employer national insurance contributions, with the cost of employing a full-time worker in a retail job rising by 10%, and by 13% for those working part time. One in five people’s first job is in retail, so what steps are the Government taking to tackle these unaffordably high employment costs for the businesses that provide entry for young people into our job market?

[Rachel Reeves]

What the hon. Lady fails to mention is that the Office for Budget Responsibility has forecast that unemployment will come down in every year of the forecast, and will end at a lower rate than it started. It would be a bit more plausible for her to make these points if she did not oppose everything we are doing to grow the economy, whether that is constructing a third runway at Heathrow airport or building the homes that families desperately need.

Road Safety

Sarah Olney Excerpts

Thursday 5th February 2026 Commons Chamber

[Sarah Olney (Richmond Park) (LD)]

I congratulate the hon. Member for Shipley (Anna Dixon) on securing this important debate and sharing her own family’s story. I dedicate my speech to a close and dear friend, a councillor in Richmond upon Thames, who lost her adult son in a road traffic collision on the A31 in Hampshire just before the new year. I am thinking of her and all her family as I make these remarks.

Every life lost on our roads is tragic, so I welcome the publication of the new road safety strategy. It is vital that we explore how our roads can be made safer so that lives can be saved. Young people are disproportionately involved in road traffic accidents. Drivers aged 17 to 24 represent just 6% of licence holders but are involved in 24% of fatal and serious collisions, so I am pleased that the Government have recognised that that statistic must be addressed.

[Mr Adnan Hussain (Blackburn) (Ind)]

May I join the hon. Member in what she says? Just last month, three young members of the community in Bolton, in the constituency next door to mine, lost their lives in a road traffic accident. A 17-year-old and two 18-year-olds were killed, as well as one of my constituents, Masrob Ali, who was 54 and out there working as a taxi driver.

[Sarah Olney]

I am grateful to the hon. Gentleman; it is tragic to hear about all those lives lost.

Consulting on measures to reduce the number of accidents involving young people is a really positive step. Not only is it vital for the obvious safety reasons, but it will make driving more affordable if insurance companies subsequently reduce their fees for 17 to 25-year-olds if they are involved in fewer accidents.

The THINK! campaign was launched at the turn of the millennium and presented a strong message to young adults about the dangers of drink driving, but 17 to 24-year-olds are still involved in a disproportionate amount of cases. As we have heard from other contributions, in the UK it is still seen as somewhat acceptable, especially among young people, to drive while over the limit.

However, drunk drivers can also be confident drivers, who, after three pints, would rather not have the inconvenience of having to book a taxi or leave their car parked elsewhere overnight. There can be lots of reasons why people think that it is acceptable to drink and drive. Will the Government commit to examining the perceptions of drunk driving, along with exploring the use of new preventive technology?

We should also examine road safety through the lens of everyone who uses our roads. Last Friday, I met a constituent who had been hit by an e-bike being ridden on the pavement. While e-bikes should certainly not be ridden on pavements, my constituent was actually very understanding of the fact that the reason why so many riders choose to do so is that they are so concerned about the dangers of cycling on our roads.

The 2007 national safety camera programme provided guidance that cameras typically should be installed only on stretches of road that experienced at least three deaths or serious injuries in the past 36 months. I have heard from other Members that that guidance can be overridden locally, but will the Minister commit to re-examining the guidance? Anyone who cycles will tell us that there are stretches of road and corners that present specific dangers to them, but experienced cyclists will anticipate that and consequently not suffer serious injuries. We need to encourage more cycling, particularly in our cities, and improving road safety for all road users is a huge priority in ensuring that that can happen.

Reviewing the guidance on safety cameras could really go a long way in encouraging all our road users to use the roads more safely. We want to see our roads safe for all users and to reduce the number of deaths on our roads.

Women’s Safety: Walking, Wheeling, Cycling and Running

Sarah Olney Excerpts

Tuesday 27th January 2026 Westminster Hall

[Marie Goldman (Chelmsford) (LD)]

It is a genuine pleasure to serve under your chairship, Ms Jardine. I pay tribute to the hon. Member for Lowestoft (Jess Asato) for securing this important debate. As hon. Members have set out, the abuse and violence experienced by women and girls in public spaces is horrifyingly prevalent and should be called out for what it is: a national emergency.

I want to pay tribute to hon. Members from across the House for some of the things they have said this afternoon, and particularly to the hon. Member for Lowestoft, who started the debate in such a wonderful way and really set the tone. She highlighted things that we all know, as women, but that, shockingly, still need highlighting. She spoke about women having to choose either the most direct or the safest route home, and about the unspoken risk assessment we all do—those words rang true to me.

My hon. Friend the Member for Bath (Wera Hobhouse) spoke about her personal experience of harassment while cycling, and about the importance of encouraging children to start cycling early. The hon. Member for Bolton North East (Kirith Entwistle) spoke about the things we do “just in case”, and that really resonated with me. My hon. Friend the Member for Frome and East Somerset (Anna Sabine) talked about her constituent, Holly, and her call for women’s safety to be designed in—that is really important, and I hope the Minister listens to that call. The hon. Member for North West Leicestershire (Amanda Hack) said that women are “constantly compromising” in what they do, and that also rang very true to me. I also highlight the hon. Members of the other gender who spoke up so passionately and convincingly when they said that men’s behaviour needs to change and that they would champion that. I thank them very much for speaking out about it.

A UN Women UK study found that 71% of women of all ages have experienced sexual harassment in public spaces in the UK, as my hon. Friend the Member for Frome and East Somerset said. That figure increases to a shocking 86% for women aged 18 to 24. Part 2 of the Angiolini inquiry confirmed, in black and white, what women already knew—that it is common for us to feel unsafe walking or running in our own streets, and that as women we often actively change our daily routines to avoid very real threats, as highlighted by Members across the House.

It also found that sexually motivated crimes against women in public are not prioritised to the same extent as other serious offences. Women have felt that to be true for far too long. A University of Manchester study found that more than two thirds of women runners experience some form of abuse while running, most commonly verbal, with just 5% of them reporting such incidents to the police. That is plainly unacceptable in Britain today.

Liberal Democrats have urged the Government to implement all 13 of the inquiry’s recommendations without delay. The sense of insecurity among women worsens during the winter months as the lack of safe routes on dark evenings greatly restricts women travelling for work or leisure.

[Sarah Olney (Richmond Park) (LD)]

Richmond Park in my constituency is a very popular spot for runners and cyclists, but as my hon. Friend points out, it is so much darker during the winter months. Our dedicated police force, the Royal Parks constabulary, has recently been completely scrapped, leaving the park unpatrolled and even less safe. This means women are choosing not to run in the park at all, which reduces their options for safe running and cycling routes in the winter months. Does she agree that investing in neighbourhood policing, including the policing we used to have in the royal parks, is critical to women feeling safer?

[Marie Goldman]

My hon. Friend’s intervention is very timely. My Chelmsford constituency is in Essex, and Essex police has just announced that it feels it will have to scrap numbers from the force, which is very concerning indeed. She also highlights the importance of women feeling safe, particularly in parks. In Chelmsford, streetlights were left dark and unrepaired by Essex county council for years, leaving many women feeling unable to take the most direct and quickest route, which was through the park, from the station to their home, at the end of the day.

As a county councillor, I campaigned hard for the lights to be fixed. I am pleased that they were eventually fixed, but that was with the help of Liberal Democrat-run Chelmsford city council. It is hardly surprising that inadequate street lighting and a lack of safe paths to facilitate active travel are widely reported to be significant barriers to women walking in their communities.

A report by the Institute for Public Policy Research in the last two years found that chronic underfunding of active travel across England is undermining efforts to get people walking, wheeling and cycling, instead of driving, with just 2% of the total transport budget spent on infrastructure to support active travel. It sometimes seems that we are putting our money in the wrong places.

It is disappointing to note, as my hon. Friend the Member for Bath did, that the UK lags behind its European counterparts, with fewer than one in five people walking, wheeling or cycling on an average day, compared with more than one in four across Europe. The report highlights that this failure has locked in more congestion and contributed to worsening air quality, making it harder to reduce emissions while also limiting growth. Members might wonder why I mention that, but we also know that higher levels of pollution intersect with racial and wealth inequalities, with the most racially diverse and the poorest parts of our towns and cities suffering the most.

There is even evidence that equal exposure to air pollution does not mean equal health outcomes for women and men. For example, some studies have shown that women experience more harmful effects from air pollution than men. More research is needed, but at the very least that demonstrates the necessity of inclusion when considering the importance of prioritising active travel.

The same goes for road safety more generally, and the Liberal Democrats have for some time been calling for an updated road safety strategy, so we welcomed its recent publication by the Government. My Liberal Democrat colleagues and I also welcome the publication of the pavement parking consultation outcome, albeit five years on. Although it might seem strange on the surface, women are likely to be disproportionately affected by the inaccessibility caused by pavement parking.

Women are more likely than men to be disabled and have mobility or visual impairment issues. We are more likely to be accompanying children and wheeling prams, and we are more likely to be carers, as was pointed out earlier. I was therefore pleased, in the autumn, to table an amendment to the English Devolution and Community Empowerment Bill that would have enabled local authorities to enforce pavement parking laws more easily. Pavement parking is not just a minor inconvenience; it puts people in harm’s way, impacts their sense of dignity and limits their access to public space. It is easy for the casual observer to dismiss some of those small changes as trivial, but they make a genuine difference in improving women’s sense of safety and inclusion.

In Chelmsford, Make Space for Girls has been doing great work to build inclusive infrastructure, which is so important for creating environments where women feel safe. The project enables girls and gender non-conforming children to design their own play spaces, and it is just as much about creating safe, comfortable physical environments as proving to these children that they can enact change in their own communities and hold power to shape their own futures. That is important, because although street lighting and safer paths play an essential role, those issues are ultimately symptomatic of the broader problem that faces our country. That is why initiatives such as Chelmsford city council’s women’s safety charter, through which local premises commit to a range of training to ensure that staff consider and prioritise women’s safety as standard, are also necessary.

Finally, the fact remains that women who are victims of violence are incredibly likely to be known to the men who attack them. We must therefore focus our efforts on tackling the societal attitudes that lead people to look away from, excuse and sometimes justify violence against women and girls. We have a responsibility to change that. It cannot be that, in a decade’s time, women are still fearful of walking our streets because of who may be lurking in the dark. We owe it to future generations of women to act. My Liberal Democrat colleagues and, I believe, Members from across the House will continue to press the Government to do so.

Business Rates

Sarah Olney Excerpts

Tuesday 27th January 2026 Commons Chamber

[Dan Tomlinson]

We have implemented a wider support package for businesses across the country as a result of the changes to valuations coming in from 1 April, which unwind the valuations that were last looked at during the pandemic. Some 56% of properties will see their bills fall or stay the same in April. The easy thing to do would have been to kick the revaluation into the long grass and bury our head in the sand, but we wanted to make sure that businesses, particularly those that have seen their valuations fall, got the benefit of having up-to-date values post pandemic. Then, because we were aware of the changes coming down the track, we stepped in with £4.3 billion of support. It means that our net revenue from business rates this year will be broadly the same as was forecast before the Budget.

[Sarah Olney (Richmond Park) (LD)]

My constituency has a diverse and varied hospitality sector that supports lots of different communities, including those who do not go to pubs, such as parents of young children, people who do not drink, faith groups and—dare I say—people who do not want to watch the football. They have different needs. They want to go to cafés and to soft play centres. Why are the Government focusing this relief just on pubs? Can they not come up with a package that provides better business rates relief for those businesses that will still be struggling with the rates hike?

[Dan Tomlinson]

The hon. Member may not wish to watch the football, and that is fine—that is her decision—but she will be interested to know that we are consulting on whether we can extend the power over longer licensing hours to other events. She will have to let me know if there are other events that she would like to go and watch in a pub, and that can be part of the consultation.

I have already answered the specific question that the hon. Member raises in a way, but I am happy to repeat myself. It is the case that pubs are valued differently than other sectors on the high street. It is also the case that they have suffered in the past 14 years, with 7,000 pubs closing and significant pressures. More broadly, we have put in a package of support, as I have outlined already.

Business Rates: Retail, Hospitality and Leisure

Sarah Olney Excerpts

Monday 19th January 2026 Commons Chamber

[Dan Tomlinson]

I thank my hon. Friend for her sustained and important engagement and advocacy on behalf of high street businesses in her constituency, from hospitality venues such as cafés and pubs to independent shops. She has explained to me really clearly the impact of various changes that previous Governments and this Government have announced on the businesses in her constituency. I will continue to engage with her and other strong advocates of the hospitality industry on this and other important issues that affect our high streets.

[Sarah Olney (Richmond Park) (LD)]

The Government have already imposed additional employment costs on our small businesses and those on our high streets. They are still struggling with sky-high energy costs that the Government have yet to alleviate, and now we have these massive increases in business rates. Is there anything at all that the Minister can say that will give hope to the small and medium businesses on our high streets that are wondering whether they can continue, or to our entrepreneurs who are wondering if they can get started?

[Dan Tomlinson]

The Government back small businesses and our high streets. We want to do all we can to continue to support businesses up and down the country. That is why we announced significant reforms to business rates at the Budget, making sure that we could have a permanently lower multiplier for high street businesses and providing significant support worth £4.3 billion over the coming three years.

Covid-19: Financial Support

Sarah Olney Excerpts

Thursday 15th January 2026 Commons Chamber

[Sarah Olney (Richmond Park) (LD)]

I thank my hon. Friend the Member for Stratford-on-Avon (Manuela Perteghella) for securing this debate and for her excellent opening speech, and I thank the Backbench Business Committee for giving us the time to debate this important topic.

Small businesses and self-employed people played a vital role in sustaining communities throughout the challenges of the covid-19 pandemic, often at significant personal and financial cost. The pandemic placed unprecedented pressure on people, affecting the livelihoods of millions from all walks of life. There were additional concerns for self-employed people and small business owners, who faced even greater uncertainty because of the lack of support from the then Tory Government. The Liberal Democrats have stood by those people from the get-go. We were the first party to call for support for self-employed people during the pandemic, and we helped to secure the support scheme for them.

The covid pandemic had a devastating impact on people across the country, and tens of thousands of people lost their life. We must never forget the tragedies of that pandemic, as people lost mothers, fathers, grandparents, siblings, friends, husbands or wives. People were left isolated, unable to see others for weeks on end. They were unable to visit sick relatives, attend the wedding of a loved one, or hug their family at funerals. It is possibly a measure of how much time has passed and how much has changed since then that only a minority of those in the Chamber were Members of Parliament during the pandemic; I think I am the only Liberal Democrat in the Chamber who was here then. Like many MPs during the pandemic, I received heartbreaking correspondence from my constituents. Their struggles will stay with me, and I will remember their suffering for as long as I continue to represent my constituency.

I reflect with gratitude on the bravery of the doctors, nurses and carers who did everything they could; they often worked incredible hours to save lives and support those around them, and often put themselves at risk. I think of the thousands of people who selflessly helped their communities, be it as vaccinators, by picking up prescriptions, or by shopping for elderly and vulnerable neighbours. We must not forget those who suffered, and those who made sacrifices to ensure that the suffering was limited as much as possible.

The strong sense of public service and neighbourliness shown by people across the country was not reflected by the Government of the day. The covid inquiry has confirmed that systematic and political failings worsened people’s suffering. A lack of scrutiny and accountability led to wrong decisions, often with catastrophic results—from the lack of preparedness for a pandemic to the failure to protect those in care homes, the cruelty and inflexibility of the isolation that people endured in the most desperate circumstances, including on their deathbed, and most shockingly of all, partygate. We must ensure that there can never again be such suffering or such a lack of preparedness.

It is particularly important that the Government continue to recognise the contribution made by small businesses and the self-employed during the covid pandemic. The Government should ensure that they have learned the lessons of that period, and keep under review its long-term impacts. Ensuring that people and businesses can leave behind the series of economic challenges that began with the pandemic—including the energy crisis, the rising cost of living and the growing tax burden—and remain resilient is essential to our long-term economic and social wellbeing.

The Government need to do more to recognise the value of the self-employed, contractors and small businesses to our economy. There is so much more that they could do to support them, and to show the value of what they contribute—the flexible working, the specialist expertise and so on. There is a range of ways that contractors, the self-employed and small businesses can support the broader economy. We need to do much more to recognise that value. The Liberal Democrats are calling for greater transparency and support for the self-employed in, for example, Making Tax Digital. That was originally intended to simplify the tax system, but it has created new burdens, costs and confusion. We must make sure that the self-employed are properly informed and supported through that reform.

The Liberal Democrats strongly supported the expansion of workers’ rights during the passage of the Employment Rights Bill, and we pushed for some of those benefits to be extended—

[Madam Deputy Speaker (Caroline Nokes)]

Order. I appreciate that the hon. Lady is referring to the self-employed and small businesses who were impacted by covid-19 financial support, but I am not convinced that Making Tax Digital and the Employment Rights Bill fall within the scope of this debate.

[Sarah Olney]

Thank you, Madam Deputy Speaker. I wanted to reflect the value of the self-employed to our economy, and to reflect on how, as we learn the lessons from covid, that group of workers can be supported more broadly. That is a pressing issue for now, but I accept that we are debating what happened six years ago.

The extremely challenging period that small businesses and self-employed people went through just a few years ago makes it even more important that the Government address the major challenges that they are experiencing here and now. For many, those challenges include repaying the loans that they took out to maintain their business. Today, as they face increased cost challenges, that continues to be a huge burden. I sincerely hope that the Government will listen to the impassioned speech of my hon. Friend the Member for Stratford-on-Avon and think about how they can do more to support self-employed people, contractors and small businesses, who contribute so much to our economy.

[Madam Deputy Speaker]

I call the shadow Minister.