International Investment Summit

The Government opened the debate by highlighting the success of the recent International Investment Summit, which saw a record-breaking £63 billion of investment commitments secured. The Parliamentary Secretary, His Majesty's Treasury, Emma Reynolds, stated that this demonstrated the UK is "open for business once again" under the new Government, which has put growth at the heart of its agenda. She outlined the Government's plans to boost productivity, skills, and investment through measures such as planning reform, pension fund investment, and the creation of a new industrial strategy advisory council. In response, the official opposition acknowledged the significant investment secured but questioned how much of it was already in the pipeline prior to the election. The shadow Secretary of State, Kevin Hollinrake, argued that stability and predictability in policy, particularly around business taxation, are crucial to maintaining investor confidence. He expressed concerns about potential increases to employer national insurance contributions and changes to employment regulations, warning that these could undermine the Government's growth agenda. The wide-ranging debate that followed saw many new Members make their maiden speeches, passionately advocating for their local constituencies and highlighting the unique strengths and challenges they face. Topics discussed included the importance of skills and education, the need for investment in green energy and infrastructure, support for small businesses and high streets, and the vital role of community spirit and volunteerism. Several Members, from both the Government and opposition benches, emphasised the cross-party heritage of the investment secured, with the Government building on foundations laid by the previous administration. However, there were also warnings that political instability and policy uncertainty could jeopardise future investment. Overall, the debate reflected a shared desire to see the UK attract significant international investment to drive growth, innovation and prosperity across all regions of the country.