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 these issues. The Secretary of State also highlighted the importance of access to banking services, particularly in rural areas, and the government's plans to expand banking hubs. In response, the shadow Minister, Gareth Bacon, expressed concerns about the government's proposed labor reforms, which he argued could drive up costs and reduce the competitiveness of small businesses. The Minister for Trade Policy and Economic Security, Mr. Douglas Alexander, addressed the issue of improving the UK's trading relationship with the EU, acknowledging the decline in goods exports and the need to tackle barriers to trade. The debate then covered a wide range of topics, including the government's progress on introducing an industrial strategy, efforts to attract inward investment, and steps to strengthen employment rights. The Secretary of State and his ministerial team emphasized the importance of economic stability, cross-departmental collaboration, and a long-term, consistent approach to policymaking. Several members of the opposition, including Sarah Coombes, Luke Myer, and Melanie Onn, highlighted the significance of the government's industrial strategy for their local constituencies, particularly in the manufacturing and green energy sectors. The ministers acknowledged the need to work closely with local communities and businesses to ensure the success of the strategy. The debate also touched on the government's plans to reform the business rates system, support for high street businesses, and the challenges faced by small businesses in trading with the EU. The ministers reiterated their commitment to addressing these issues and working closely with businesses and stakeholders. Throughout the debate, the government representatives emphasized their determination to reset the UK's relationship with the EU, tackle barriers to trade, and support small businesses and workers across the country. The opposition members raised concerns about the potential impact of the government's policies on businesses, while also highlighting the need for a more collaborative and evidence-based approach to policymaking.