Emma Reynolds MP: speeches

Speeches

• 8 Sept 2026 · Topical Questions · Hansard source

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  I can reassure the hon. Gentleman that I am working extremely closely with the Secretary of State for Northern Ireland who, as he will know, is in discussions with all the parties in the Northern Ireland Executive. We need to make sure that a budget is set for Northern Ireland so that the Executive can continue to deliver vital local public services.

• 8 Sept 2026 · Topical Questions · Hansard source

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  I reassure my hon. Friend that I am working extremely closely with the Health Secretary and discussing overall levels of NHS spending—of course, the Department has the biggest budget across the Departments. The NHS is performing well, but I will take back the specifics that she mentioned.

• 8 Sept 2026 · Public Sector Productivity · Hansard source

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  Public sector productivity is improving, with the NHS delivering 3.5% productivity growth in 2025-26, beating its 2% target. The Government will continue to drive public sector efficiency so that taxpayers’ money delivers the best possible public services. In addition, we are investing in AI adoption across the public sector to help realise the overall target of £14 billion of efficiencies by 2028-29, as agreed at the last spending review.

• 8 Sept 2026 · Public Sector Productivity · Hansard source

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  I could not agree more with my hon. Friend. Driving public sector productivity is extremely important in two ways: first, because we get better value for money for taxpayers for the tax that people are putting in, including taxpayers in our own constituencies; and secondly, as she says, we are driving efficiencies, faster service delivery and using AI in the NHS to really drive improvements in care, as well as delivering more bang for buck.

• 8 Sept 2026 · Public Sector Productivity · Hansard source

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  We in the Treasury Front-Bench team are wondering when the third book in the trilogy will come along and what it might be called. We have a guess for the title of the next book. I thank him for his advice in his books and in his recent Financial Times article. On train drivers and their pay, I am proud to be part of a Government who have avoided strikes that impact on public spending.

• 8 Sept 2026 · Regional Funding · Hansard source

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  I thank the hon. Gentleman for his question, but I disagree with his assessment. As I said to my hon. Friend the Member for Gloucester (Alex McIntyre), there are opportunities for areas that do not opt to have a mayor, but set up as foundation strategic authorities to gain the benefit of retaining more business rates and of greater powers over skills, transport and housing.

• 8 Sept 2026 · Regional Funding · Hansard source

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  I thank the right hon. Gentleman, in whose footsteps I am again following by taking on another job that he did in government. As a former Environment Secretary, living in a rural area of Buckinghamshire myself and representing a semi-rural seat, I reassure him that this Government of course care about driving growth in rural areas. There is great potential there, which is why we are supporting our farmers through a £2.7 billion a year sustainable farming budget, and we are also improving connectivity in rural areas.

• 8 Sept 2026 · Regional Funding · Hansard source

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  My hon. Friend is a doughty champion for his area. As he said, the Prime Minister has been engaging with Cornwall—including, importantly, with its six MPs, including my hon. Friend—on a devolution agreement. This will support the Cornish economy through stronger statutory powers on transport and housing, and the ability to introduce an overnight visitor levy, which can be invested in projects that drive growth in the region. As he will know, the Government are already investing in Cornwall’s high potential sectors with the £30 million Kernow industrial growth fund.

• 8 Sept 2026 · Regional Funding · Hansard source

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  The Government will support good growth in every postcode, including in Cornwall and Gloucester. We have already established No. 10 North to work in partnership with local leaders, businesses and communities, and at the Budget next month we will publish plans for further fiscal devolution, including greater retention of business rates revenue for local councils and strategic authorities.

• 7 Sept 2026 · Economic Growth · Hansard source

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  I agree with my hon. Friend that it is simply not acceptable that we live in a country where children are in poverty. The last Government plunged 900,000 children into child poverty. We are proud to be the Labour Government who lifted the two-child limit and lifted 450,000 children out of poverty.

• 7 Sept 2026 · Economic Growth · Hansard source

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  I am glad to know that some of what I say is music to my hon. Friend’s ears. I can reassure her that that will be for mayoral strategic authorities to take forward. She is in a part of the country that has had great success in taking forward devolution and using those powers to drive economic growth. I am sure that her area will thrive under this Government, too.

• 7 Sept 2026 · Economic Growth · Hansard source

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  I can absolutely give my hon. Friend that reassurance. The Government are intent on driving good growth and job creation opportunities across the country—in the north, the south, the midlands and every other part, too.

• 7 Sept 2026 · Economic Growth · Hansard source

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  We are working with the mayor on that issue. Our colleagues will get back to you on that.

• 7 Sept 2026 · Economic Growth · Hansard source

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  We have to get local government reorganisation right, so I make no apology for the Secretary of State coming to the House to update colleagues—for a couple of hours; it was a very long statement. I know that lots of Members from across the House have strong views on the issue, but it is important that the Government get this right.

• 7 Sept 2026 · Economic Growth · Hansard source

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  I share my hon. Friend’s impatience. I want to get things done, and so does the Chancellor. The Attorney General will provide guidance to Ministers, so that we can make quicker decisions. She will advise on where we need consultation and where we do not. My hon. Friend is absolutely right to be impatient for change; I am too.

• 7 Sept 2026 · Economic Growth · Hansard source

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  I can reassure the right hon. Gentleman that when I was Environment Secretary I visited the port of Belfast and saw the kinds of checks that were going on there. The sanitary and phytosanitary agreement that we are negotiating with the EU will help to reduce that friction.

• 7 Sept 2026 · Economic Growth · Hansard source

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  My hon. Friend is right to talk about the trade deficit. When I was at the G20 in North Carolina last week, there was a discussion about global trade imbalances, and that is something that we are considering putting on the agenda for our G20 presidency.

• 7 Sept 2026 · Economic Growth · Hansard source

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  Being from Wolverhampton, I agree with my hon. Friend that the midlands is a very important part of the country. He is a really powerful advocate for his area, and he will know that we have put forward a ceramics support package to ensure that his area, and others in the region, thrive.

• 7 Sept 2026 · Economic Growth · Hansard source

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  It is a great pleasure to be opposite the hon. Gentleman again, as we were earlier in this Parliament. I will address his points, but I say kindly to him that I would rather be continuity Labour than continuity Liz Truss. The hon. Gentleman was right to mention Jaguar Land Rover. It is a concerning time for the workforce, and the Business Secretary is working closely with the chief executive and the leader of the trade union Unite, bringing them together tomorrow to discuss the situation. Jaguar Land Rover has made clear that it faces competitive global headwinds, but we have done a lot to support the automotive industry, and Jaguar Land Rover in particular, given the loan guarantee that we provided last year in the wake of its cyber-attack. The Business Secretary and the Government are also providing help to the automotive sector to bear down on the cost of energy. I think the hon. Gentleman said that he agreed with me in some areas, which is always good to hear. We can agree that there is nothing progressive about spending so much money on servicing our debt. As a Government we are committed to fiscal discipline and the fiscal rules because we want to bring down the cost of Government borrowing, but we are not immune to the global instability that means that the cost of borrowing is also increasing for every other G7 country. However, we have the fastest growth in the G7, and we are cutting our deficit faster than any other G7 country; business confidence and investment are up; productivity is up; interest rates have been cut six times since the election; and consumer confidence is up. While the hon. Gentleman talks down our economy, me, the Chancellor and the whole ministerial team will be talking up the British economy. The hon. Gentleman asked a serious question about the northern scale-up fund. The British Business Bank will make those decisions independently of Government, as should always be the case. He is right to ask for reassurance about that, and I have provided it. We are a Government that are serious about devolving power to every part of the country. We will have more to say about that at the Budget and will set out a fiscal devolution road map as well. The hon. Gentleman accused me nicely of talking smartly about the thicket of consultation, saying that I had some common sense, and I thank him for that. He has been in Government too, in the Treasury, and I fondly remember our meetings together back then. It is good that there is agreement across the Chamber that we need to ensure that those sorts of things do not gum up the system, that Ministers are able to take decisions, and that we are able to get infrastructure built in this country. I respectfully disagree with the hon. Gentleman on the Green Book discount rate. We say proudly that we are reducing the discount rate to 3%, because there have been times in the past when the Treasury has stood in the way of good regional infrastructure projects that have a long-term benefit. I am proud that we are ensuring that those projects get a fairer hearing. The hon. Gentleman will know that we have made changes to tax to support unicorns in last year’s Budget, and we are opening up opportunities to public procurement. I think he mentioned pudding at the end—parfait, I think it was—and although I am a big fan of pudding myself, I will not respond to that. On the serious question of the Alan Milburn review, I cannot give the hon. Gentleman a timeline, but I will repeat what I said in my statement: it is our moral duty as a Government to ensure that we have more young people back in the labour market. That is why we have already introduced the youth guarantee, so that young people who have been out of work for longer than 18 months will get a paid placement by the Government, as well as introducing a grant for businesses that take on unemployed young people. It is a very serious issue, and one that we will address.

• 7 Sept 2026 · Economic Growth · Hansard source

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  I thank my hon. Friend for his question and his work on this agenda. I reassure him that, as the Chancellor set out this morning in his growth speech, we will work across Departments to ensure that we open up public procurement to smaller and start-up businesses, so that they stay here, rather than go elsewhere when they scale up?

• 7 Sept 2026 · Economic Growth · Hansard source

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  The Government are on the side of young people—both young graduates and those who pursue technical education. As the Prime Minister set out in his first two weeks in power, we want to ensure parity between technical education and university education, and to drive good growth in every postcode, including in my hon. Friend’s constituency.

• 7 Sept 2026 · Economic Growth · Hansard source

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  I can absolutely do that. May I thank my hon. Friend for the work he does to further the cause of co-operatives and mutuals? When I was Economic Secretary, I very much enjoyed working with the sector, because building societies often offer more innovative products—to first-time buyers in particular—and do sterling work.

• 7 Sept 2026 · Economic Growth · Hansard source

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  As the Chancellor set out this morning, we are determined to speed up infrastructure provision. Frankly, compared to other countries, we are just too slow at building high-speed rail and other types of rail. We are determined to press ahead and ensure that we speed up infrastructure provision, so that we can develop other areas. I also have an interest in the Cambridge-Oxford growth corridor, because my constituency is not very far away.

• 7 Sept 2026 · Economic Growth · Hansard source

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  I can reassure the hon. Gentleman; the east midlands and the west midlands are really important. The changes that the Chancellor outlined to the discount rate today will benefit places such as his constituency, because they will ensure that we value the longer-term benefit of regional investment projects more fairly. As we have said, we will drive growth in every postcode and that includes his constituency.

• 7 Sept 2026 · Economic Growth · Hansard source

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  With permission, I will make a statement on the Government’s plan to deliver good growth in every postcode. At the G20 in North Carolina last week, the Chancellor and I met Finance Ministers from leading economies to discuss our shared economic challenges. Global instability, conflict and trade frictions are continuing to drive up inflation and interest rates around the world. While these shocks are international in nature, their impact is also being felt here in the UK—from the cost of the weekly family shop to the cost of Government borrowing. Britain has shown resilience in the face of these pressures and the economy is now turning a corner: our growth was the fastest in the G7 in the first half of this year, Government borrowing fell to its lowest level in six years last year and interest rates have been cut six times since the general election. We are building on our strengths—our world-class universities and our world-leading sectors, such as life sciences, defence, technology, creative industries and financial services—and, because of the choices that this Labour Government have already taken, we are in a stronger position today to capitalise on the opportunities for growth across our economy. In the context of a more uncertain world, we must continue to make responsible choices. Fiscal discipline will underwrite every promise this Government make. Both the Prime Minister and the Chancellor have made clear their commitment to meeting the fiscal rules, with a buffer against uncertainty. We will address the long-term pressures on our public finances to put debt on a sustainable downward path. As the Chancellor said earlier today, there is nothing progressive about spending £1 in every £10 on debt interest. In his statement to this House last week, the Prime Minister laid out a clear diagnosis of what has gone wrong in our economy: political power was centralised, the economic fundamentals were privatised or outsourced, and our country was de-industrialised. The solution is a fundamental shift in the way our country works. No. 10 North and the Treasury are working together to build a stronger, more strategic centre of government and a more active state. Together, we will support the ambitions of local leaders and exert public influence and direction over the essentials, including transport and housing. We will devolve power and resources to local leaders. London is of course an economic powerhouse, but if our city regions could emulate the success of second cities in France and Germany, growth in our country could be transformed. The Chancellor has instructed public investment institutions to focus on regional growth. To build on our high growth areas, the Oxford-Cambridge corridor and the northern growth corridor, he has today announced a new £150 million northern scale-up fund, delivered by the British Business Bank, to back the most innovative and fast-growing firms from Liverpool to Newcastle. The new Northern 500 will also bring together 500 of the north’s most ambitious mid-sized businesses into a single growth community, focused on scaling, investment and productivity. The National Wealth Fund will establish new strategic partnerships with South Yorkshire, the Liverpool city region, the north-east and Cardiff, giving those areas support to build their investment pipelines. At the Budget next month, the Government will go further, with a road map for fiscal devolution—a permanent transfer of power and resources from Whitehall to our regions. This plan will drive economic growth and productivity in three key areas: supporting investment, boosting innovation and getting more people into good jobs. First, I will turn to investment. Business investment has increased by nearly 5% since the general election, but in a highly competitive world we must do more to reduce the barriers that firms face. The Government will tackle the thicket of consultation, litigation and administration that is holding up private investment, including by extending our reforms of judicial review from energy to all major infrastructure. We will bring an end to the consultation culture across Government, supported by new guidance from the Attorney General on legal risk to give Ministers confidence to make decisions. As the Chancellor has set out, we will make further changes to the Treasury’s Green Book, reducing the discount rate from 3.5% to 3%, to ensure that the Treasury rulebook does not go against key regional infrastructure projects and that places across the country get a fairer hearing in spending decisions. Work is already under way to progress place-based business cases in Plymouth, Birmingham, Liverpool and Port Talbot, and at the Budget we will publish guidance to allow more areas to do the same. The second driver of growth is innovation. The UK has a fantastic record on innovation. We are world leaders in frontier technologies, quantum computing, nuclear fusion, space technology and AI. But too often, ideas born here have to go elsewhere to find the capital they need to scale. Today we are setting out a new ambition to double the number of unicorns in this country. The Government will identify and back these high-potential firms, providing them with the necessary capital to scale. New cross-economy sandboxing powers will also enable firms to test frontier technologies safely. Building on the important work already taking place in defence and sovereign AI, the Chancellor will work with Government Departments to earmark new, dedicated funds to back British innovation. The third vital driver of growth is jobs. Our objective is to get more people into good, highly skilled jobs, and to make the most of the untapped talent that exists across the country. That is why, two weeks into office, the Prime Minister set out a bold new plan to transform technical education, and why, this autumn, Alan Milburn will set out his full recommendations to Government on how to address the blight of youth unemployment. This is our moral duty—not only our fiscal duty—because it cannot be right that so many young people are stuck on benefits. The plan for growth is underpinned by fiscal discipline. It will hand power to local leaders and unlock the potential of our regions. It will build a strong, strategic centre of Government and enable greater public direction and influence over the essentials. It will back British business, goods and exports, creating wealth and prosperity in all parts of the country. It is a plan to build hope and optimism across our economy, and to drive good growth in every postcode. I commend this statement to the House.