Business and Trade

The Secretary of State for Business and Trade, Jonathan Reynolds, opened the debate by emphasizing the crucial role of small businesses in the government's growth mission. He acknowledged the challenges faced by small businesses, such as late payments and retail crime, and pledged to work closely with local communities to address their concerns. The Secretary of State also highlighted the importance of the government's industrial strategy, which aims to capture a greater share of international investment cycles and provide consistency and clarity for businesses. In response, the shadow Minister, Gareth Bacon, expressed concerns about the government's plans to introduce new labor laws, which he argued could drive up the costs and risks of doing business, thereby reducing the competitiveness and financial stability of firms. The Minister for Trade Policy and Economic Security, Mr. Douglas Alexander, addressed the issue of improving the UK's trading relationship with the EU, emphasizing the government's efforts to tackle barriers to trade and facilitate smoother trade between the UK and Europe. The debate covered a wide range of topics, including the government's support for high street businesses, the steps being taken to attract inward investment, and the measures to strengthen employment rights. Several MPs from both sides of the House raised constituency-specific concerns, such as the challenges faced by farmers and businesses in their local areas, and the need for the government to work closely with local communities and stakeholders to address these issues. The Secretary of State and his ministerial team acknowledged the importance of cross-departmental collaboration and the need to provide stability and consistency for businesses. They also emphasized the government's commitment to working with the business community to co-design policies that support economic growth and job creation across the country.