Callum Anderson MP: speeches

Speeches

• 16 Jun 2025 · Topical Questions · Hansard source

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  Just two in five young people recall receiving any financial education at school, and those who did so often received less than an hour per month. While I welcome the Government’s Children’s Wellbeing and Schools Bill, which will require all schools to teach financial literacy, does the Minister agree that the curriculum and assessment review gives us an opportunity to go even further? Will she meet me to discuss how Government, industry and civil society can ensure that children in my constituency get this vital life skill?

• 22 Apr 2025 · Retail Investment · Hansard source

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  As I have mentioned ad nauseam since I was elected, my mum works for Morrisons, so I know the impact that various structures of ownership can have on workers and customers. My hon. Friend is right that that is one of the many factors that we should consider as policymakers. A £100 investment in Government gilts in 1900 would have returned around £463 by 2019. The same investment in UK equities would have yielded £35,000. Despite that, many Britons still keep the bulk of their money in cash. In the G7, only the citizens of Germany and Japan hold more of their national wealth in cash than we do. Inflation, even at modest levels, steadily eats away at its value. I believe that we must do more to help people feel confident in making smart, informed, long-term choices, and that starts with awareness, the right tools and advice, and trust. Let us take ISAs, the most commonly known product, as an example. In the 2022-23 financial year, the latest for which official statistics are known, more than 12 million adult ISA accounts were active, yet nearly two thirds of the total value—almost £290 billion—was held in cash. That is more than £290 billion earning very little return indeed. Some major high street banks, which I will decline to name, are at the moment offering as little as 1.35% interest on cash ISAs, yet we know that inflation has consistently outpaced that rate for the past four years; indeed, it has sometimes reached double figures. Many financial experts and advisers will rightly recommend keeping three, six or nine months of living expenses in cash savings. I know from my early career in financial inclusion charities that, for many households, possessing even £500 in emergency savings can often be out of reach. Let me be clear again: this debate is not about replacing or discouraging cash savings—far from it. It is about showing that even small investments—£10, £20 or £50 per month—can make a real difference over time. If more people invest, our economy will be stronger in the long run. Imagine if we could shift just 10% or 20% of that £290 billion towards more productive, growth-inducing assets. That would mean more companies starting, growing and scaling right here in the United Kingdom and, therefore, more jobs, better pay and more people gaining that crucial bit of additional disposable income to invest for themselves or, perhaps just as importantly, to enjoy life with their families. That is the virtuous cycle that I believe we all agree that we need to build. How can we—Parliament, Government, regulators and the industry itself—go about working towards that together? Ultimately, I believe that the UK would greatly benefit from a long-term retail investment strategy invested in by Parliament, Government, regulators and the industry. For the purpose of this debate, I think there are four immediate priorities. First, we need to simplify the ISA framework and reform it to better support British investment. There are four types of ISAs, each with slightly different rules. For many, that is simply confusing and, I think, off-putting. Why not consolidate those products into a single ISA, with stocks and shares ISAs the default but, crucially, people can still hold cash if they choose? The Government might also wish to consider reviewing the stamp duty framework on share purchases. Currently, it is cheaper for an individual investor to buy shares in Illumina than in Oxford Nanopore, in Lockheed Martin than in BAE Systems, and in Tesla than in Rolls-Royce. Is it time for us to ask ourselves whether we want to continue making it more expensive for Britons to buy British? Finally on this point, we should ensure that ISA tax exemptions align much better with the needs of the UK economy as a whole. Today, someone can put £20,000 in a tax-free wrapper that invests in companies that create no jobs in the UK, pay nothing into our Exchequer, generate no domestic growth and contribute no intellectual property or research and development. Should we as legislators be asking ourselves whether that is a good use of taxpayer subsidy? Is it time to look again at the original PEP—personal equity plan—model introduced by Nigel Lawson in the 1980s, which required at least 50% of the ISA allowance to be directed towards UK-focused assets? That could strike a better balance between supporting investment freedoms and choice, and the national interest. Secondly, we must boost, embed and entrench the virtues of financial education, because if people do not understand how investing works, they simply will not do it. I welcome the Government’s continued support for the Financial Conduct Authority’s review of the boundary between financial advice and guidance. It is really important that people can get timely and affordable help when making big financial decisions so that they can make the most of their money, but I think there is scope for us—for Britain—to go further. Let us be honest: as I said in my opening remarks, kids from wealthier backgrounds are more likely than those from less wealthy families to hear about compound interest, investment portfolios and ISAs at the dinner table. That is why financial education should form a part of everyone’s life, from school right through to retirement, so that people feel confident and well informed at every stage of their life. That means recommitting ourselves to properly implementing age-appropriate financial education throughout our school system, from basic budgeting and saving at a young age, to more sophisticated learning about investment, risk and long-term planning in later school years. This is not just about economics; it is about equity and fairness. Thirdly, we need to make it easier for citizens to engage with the companies they invest in. I believe that primarily means finishing the work of Sir Douglas Flint’s Digitisation Taskforce at pace, ending paper share certificates and creating a fully transparent modern shareholding system. However, it is also about access to information: right now, only the big top-tier institutions get first-class research; retail investors get patchy websites filled with jargon, if they get anything at all. The UK should be developing high-quality and accessible investment information, especially for those smaller UK firms that have the potential to be the Googles and Nvidias of tomorrow. Fourthly and finally, we must fundamentally shift the British culture and mindset into individual investing. Too many of our constituents still see investing as something that other people do—something for the wealthy, or the experts, or the lucky to do. We must challenge that mistaken perception head-on. Why not launch a modern, compelling and inclusive public awareness campaign—perhaps a 21st-century version of “Tell Sid”? It should focus on real people, real lives, and real, genuine, tangible benefits that people can see in their local community. It should be visible, too, in universities, in jobcentres, in community places and in our workplaces, because this is not just a personal finance issue; it is a national opportunity. I think that the case for retail investment is clear and I believe that this Labour Government have the chance to fuse their democratic socialism with a modern brand of democratic capitalism. By helping more people to invest in their own economy, we empower citizens, grow our companies and build a more prosperous country for everyone. I believe that capital markets can and should serve everyone, and that it is our job in this place to make that a reality.

• 2 Apr 2025 · School-based Nursery Capital Grants · Hansard source

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  I thank the Secretary of State for her statement, and warmly welcome the inclusion of Great Horwood Church of England school in the first round of funding. Like every school leader in Buckinghamshire, Milton Keynes and the country as a whole, the school’s headteacher, Paula Shaw, is working tirelessly to ensure that all children and their families have the opportunity to thrive. Does the Secretary of State agree that it is vital to ensure that parents in both urban and rural communities never have to choose between their families and their jobs?

• 27 Feb 2025 · Topical Questions · Hansard source

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  T8. Football clubs are far more than 90 minutes of entertainment on match day; they are also powerful engines of community outreach, which provide a lifeline for vulnerable people. In the Buckingham and Bletchley constituency, Milton Keynes Dons Sport and Education Trust offers a variety of programmes for those battling dementia or who have suffered from brain trauma or stroke. Can the Secretary of State explain to the House how the Football Governance Bill will help the ability of clubs to continue providing those programmes?

• 17 Oct 2024 · International Investment Summit · Hansard source

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  It is with deep humility that I rise for the first time in this House as the Member of Parliament for the new Buckingham and Bletchley constituency, and I am pleased to contribute to this debate. I congratulate my hon. Friends the Members for Ossett and Denby Dale (Jade Botterill) and for Congleton (Mrs Russell) on their excellent speeches. Their constituents are fortunate to have such formidable representatives. I should of course begin my remarks by paying tribute to my two direct predecessors. In Iain Stewart, this Chamber had a calm, measured advocate for the former Milton Keynes South constituency who, among other things, consistently championed better transport connections for the city and the United Kingdom more broadly. I also thank the now hon. Member for Mid Buckinghamshire (Greg Smith), whose kindness and generosity I have valued as I have navigated these early months in Westminster. They followed in the footsteps of John Bercow, who served as the Member for Buckingham for 22 years, and Dr Phyllis Starkey, who served as the last Labour Member of Parliament for Bletchley, as part of Milton Keynes South, for 13 years. They all exemplify what it means to be a dedicated public servant, and I will do my utmost to meet their standard. Although Buckingham and Bletchley is a new constituency for this Parliament, it is in fact a reunion of old friends. For nearly a century, those communities were connected as one, but in 1983, Milton Keynes, along with Bletchley, had the temerity to split away and flourish into the formidable modern city that it is today. Although the towns of Buckingham, Bletchley and Winslow are different in character, all have deep-rooted, rich histories. And between those towns lie many villages, breathing life into the heart of our constituency. Be it Westbury, Quainton, Stewkley or Nash—I could go on—all contribute to the fabric of our collective identity, and I must never forget Tattenhoe in Milton Keynes. Although each community is unique, they share common values: a deep sense of civic pride, patriotism and a belief that opportunity should be available to everyone if they work hard. I pledge to serve each of them with the same level of diligence, be they urban or rural and regardless of their size or affluence. One of the great privileges of representing Bletchley is that I carry the legacy of Bletchley Park and the remarkable codebreakers who worked there in the 1940s. The ingenuity and tireless efforts of those brave women and men—including Alan Turing, a very British hero—who together uncovered key strategic military plans of the Nazis, not only shortened the second world war and saved countless lives, but laid the foundation of today’s technological age. That is why Bletchley Park remains an iconic institution of national and global significance, and why it was such a fitting host for the AI summit last year. That legacy of technology and creative thinking remains at Bletchley’s core today. As we speak, the South Central Institute of Technology is inspiring the next generation, providing young people with the skills to thrive in the digital age. The expertise does not end there: the University of Buckingham is innovating in higher education, enabling students to pursue accelerated degrees and equipping them with the agility and knowledge to navigate an ever-changing world. Just as Bletchley and Buckingham lead in education, Silverstone—of which the southern half of the track is located in my constituency—leads on the world stage for motorsport. It convenes the best drivers, including our very own Sir Lewis Hamilton and Lando Norris, alongside cutting-edge engineers, technologists and designers. Silverstone is where the pinnacle of innovation meets the thrill of competition, and inward international investment has been pivotal to achieving that status. From Formula 1 teams to global technology giants, international investors are choosing Britain because they see a country where creativity, innovation and entrepreneurship can flourish. But the value of international investment is not just financial; it is also a vote of confidence in us—in our workforce, our infrastructure and our unique creative spirit. It strengthens our relationships with key global players, ensuring that we continue to be the country that others seek out for collaboration, whether in emerging fields such as artificial intelligence or established ones such as financial services and advanced manufacturing. That is why this Government’s achievement in securing the commitment of £63 billion of private investment, 10% of which will help turbocharge Britain’s AI capacity, is so important. I congratulate my right hon. and hon. Friends across Government on their hard work to secure that historic investment. But, Madam Deputy Speaker, the Buckingham and Bletchley constituency offers so much more. Farmers and rural businesses across north Buckinghamshire work tirelessly to feed our nation, using the latest methods to produce high-quality food while safeguarding our local environment, as I saw at first hand when I met the Edgcott and Winslow Young Farmers earlier this summer. I am committed to being their advocate in the House, ensuring that they receive the support and recognition that they deserve. If the House will indulge me for a few more moments, I want to close my maiden speech by thanking the people who believed in me and supported me on my journey to this place. First and foremost, I owe an unpayable debt to my mother, who brought me up alone in a council flat and sacrificed everything to help her son reach heights that neither of us could have dreamed of 33 years ago—be that the City of London or the home of our democracy—and whose simple values of hard work and quiet perseverance taught me that everyone has value and deserves respect. Her example has been a guiding light to me, and for that I will be forever grateful. There are so many others to whom I also owe so much, be they family members, my partner of 10 years, or my friends of 15, 20 and 30 years—all of which I mention to warn my constituents that I generally invest only in the most long-term of relationships. It is on that note that I wish to address the young people in the towns, villages and city that comprise the Buckingham and Bletchley constituency: regardless of who your parents are, where you come from or what you look like, never stop believing that if you work hard, anything in Britain is possible. Every moment I am granted in this place will be spent working towards ensuring that you have the power to write your own life story and live the life that you have imagined for yourself on these islands of ours. That is the Britain I believe in, and the one I will be fighting for.