Jonathan Reynolds MP: speeches

Speeches

• 17 Jul 2025 · Industrial Strategy: Teesside · Hansard source

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  My hon. Friend’s area is one of the most exciting investment locations in the world—in clean energy opportunities, carbon capture and storage, and offshore wind, but also in creative and digital investment, chemicals production and steel. Specific interventions for the Tees Valley include recommitting £160 million for its investment zone, enhanced support for the Teesside freeport for clean energy industries, and a lot of money for transport for city regions funding. Of particular interest to businesses in his area will be the new British industrial competitiveness scheme, which will reduce electricity costs by £35 to £40 per megawatt-hour for many businesses in Teesside.

• 17 Jul 2025 · Industrial Strategy: Teesside · Hansard source

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  My hon. Friend and his colleagues are incredible champions for bringing investment into the area, and I recognise and thank him for that support. He is right to say that some of the perhaps more traditional industries, though very exciting for the future, are not just the only story in his area. He has mentioned tech and the creative industries too, and I would say they are huge opportunities. Specifically, our investment in skills to make sure that there is a pipeline of talent in every part of the country is a formidable and significant contribution to delivering on those opportunities. I look forward to continuing to work with him on these issues.

• 17 Jul 2025 · Industrial Strategy: North Wales · Hansard source

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  I am delighted by the hugely positive response that the industrial strategy has received. It is a plan to lift every part of the country, making it easier and quicker to do business and to invest. For north Wales, with its formidable prowess in advanced manufacturing, it is a very significant set of proposals. The same is true for Wales as a whole, as I demonstrated on Monday at Port Talbot at the groundbreaking of the new electric arc furnace, which will get the enhanced supercharger discounted energy price.

• 17 Jul 2025 · Industrial Strategy: North Wales · Hansard source

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  I thank my hon. Friend warmly for his question. I am excited about this. The strategic sites accelerator will prepare and accelerate sites for development by using Government tools, such as land acquisition, planning certainty and infrastructure support, to overcome existing barriers to investment on sites. It is designed to create jobs, to attract investment and to support our industrial and net zero priorities. It will work alongside other initiatives such as the connections accelerator service, which will streamline grid connections for major investment projects. It is about going faster, being bigger and being more ambitious for new investments, such as those that could come to my hon. Friend’s area. I can tell him that the Office for Investment is working jointly with the Ministry of Housing, Communities and Local Government and Ofgem to take this vital work forward. I expect capital to be deployed initially under this programme in 2026-27.

• 17 Jul 2025 · Industrial Strategy: Cornwall · Hansard source

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  As we have heard, the industrial strategy is a plan to lift every part of the country, and it specifically recognises clean energy opportunities for offshore wind and nuclear in the great south-west. The strategy also highlights foundational industries relevant to its eight sectors’ supply chains, including spotlighting critical minerals clusters in Cornwall. It included the launch of a new UK Export Finance loan guarantee scheme for domestic suppliers selling critical minerals to UK exporters. The upcoming 2025 critical minerals strategy will aim to secure a steady supply of minerals, optimising domestic resources and enhancing international collaboration.

• 17 Jul 2025 · Industrial Strategy: Cornwall · Hansard source

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  First, let me say that, as someone who used to spend their family holidays in Cornwall, I must protest: I have had two questions from Cornish colleagues and not a single invite to visit Cornwall over the summer holidays. I really think that is unacceptable. The economic history of Cornwall is particularly interesting—I have had this discussion with my hon. Friend the Member for Camborne and Redruth (Perran Moon)—and I recognise some of the specific issues that the hon. Member for St Ives (Andrew George) has identified there. Of course, I am always willing to meet him, either in Cornwall or here in Parliament, to have that discussion. I believe there are key parts of the industrial strategy that will deliver the opportunities and the tools required to unleash what both colleagues are trying to achieve.

• 17 Jul 2025 · Industrial Strategy: Cornwall · Hansard source

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  I can give my hon. Friend that assurance. I was dismayed this morning to wake up and hear the Reform party actively arguing for less investment in Britain and telling businesses they should not invest in the UK. I find that absolutely absurd. There are a whole range of tools for local areas to shape their economies in the industrial strategy. Some relate to mayors, but many do not. It has the mix of tools that is required to unleash the potential of every part of the country, including his own.

• 17 Jul 2025 · Topical Questions · Hansard source

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  This has been a year of real achievement for the Department for Business and Trade. From holding our record-breaking international investment summit, which saw £63 billion committed to the UK, to intervening decisively to save British Steel’s Scunthorpe site and all the shipyards at Harland and Wolff, we have safeguarded thousands of jobs. We have reformed the Competition and Markets Authority, changed the zero emission vehicle mandate, altered the remit of the Low Pay Commission and introduced the Employment Rights Bill. We have quadrupled compensation payments to victims of the Horizon scandal. We have agreed trade deals with India, the EU and the US and published a comprehensive trade strategy to help us to secure greater access to global markets for British business. We have brought forward our industrial strategy, and last week a survey by Deloitte found that Britain has become the most attractive place to invest in the world. We are delivering this Government’s plan for change, putting money into people’s pockets, driving growth and kickstarting a decade of national renewal.

• 17 Jul 2025 · Topical Questions · Hansard source

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  I very much agree with my hon. Friend. Nationalism is fundamentally a creed based on grievance, rather than real solutions, and that stands in contrast to our approach. There are specific instances where we could deliver billions of pounds of investment to Scotland if there was a change in policy from the Scottish Government, be it on new nuclear in places where Scotland could benefit from small modular reactors, or on the recent decision to pull support for the Rolls-Royce-led plan for a welding centre for apprentices in the defence sector, which would enable them to support the maintenance of Royal Navy submarines. The SNP Government are actively making decisions that get in the way of that investment. If we cannot change their policy, let us change the Scottish Government.

• 17 Jul 2025 · Topical Questions · Hansard source

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  I am always grateful to the Chair of the Select Committee for his helpful and pragmatic work and engagement. I recognise the issue that he has highlighted. A lot of small businesses were locked into uncompetitive contracts after covid, and the legacy of that has been very difficult. Of course, we will always look at measures to address that. Fundamentally, we must break the link that means that gas sets the price of electricity in the UK. There are no shortcuts to that; we have to get enough clean energy on to the system to make that possible, which is exactly what the Government are doing.

• 17 Jul 2025 · Topical Questions · Hansard source

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  The shadow Secretary of State talks about vulnerable people. Which Government left one in eight young people not in education, employment or training, while net immigration hit 1 million? It was absolutely shameful, and we will take no lessons from Conservative Members. He talks about tackling barriers; who gave us the highest industrial energy prices in the developed world? The Conservative party. Who is dealing with that? Who has put millions into skills and training, finance, and the tools that local areas need? Those are the things that businesses want. The shadow Secretary of State also talks about the Employment Rights Bill. I regret the Conservatives’ knee-jerk ideological opposition to it; they could have been pragmatic. The Bill was a manifesto commitment, and we will deliver our manifesto commitments in full. There are issues on which we have to get the balance right, such as probation periods and the future monitoring of zero-hours contracts, and the commitment is of course real. Pragmatic engagement would have been a more constructive way forward than this knee-jerk ideological opposition.

• 17 Jul 2025 · Topical Questions · Hansard source

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  I am always keen to update the hon. Member and colleagues on the situation with British Steel. We have cancelled the redundancy consultation and removed the immediate risk to 2,700 jobs. We have taken on new apprentices and invested significantly in improving health and safety on the site. We have provided significant working capital—that does not take into account yet the future revenue that will come. I am sure he will have been pleased to see that Network Rail has awarded British Steel a contract worth £500 million. We will continue to ensure that there is a long-term future for British Steel, and we will keep the House and himself updated to that effect.

• 17 Jul 2025 · Topical Questions · Hansard source

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  It is always nice to hear from the shadow Secretary of State. First, as he knows, the Office for National Statistics workforce survey shows that the overall number of jobs is higher after a year of this Government than it would have been if the Conservatives had remained in government—there are 380,000 additional jobs. He mentioned payroll jobs. Of course, they are important; they are one key factor, as is wages, which, as he knows, have risen faster in the first 10 months of this Government than they did in the first 10 years of the previous Government. Our productivity figures have also risen, and of course, we closely monitor the impacts of technology. The shadow Secretary of State asked what businesses say to me. They say that this Government have brought stability after the mini-Budget disaster, which he was a key part of. They say that we have brought openness to the world and are navigating a difficult trading environment better than anyone else, and they recognise that our pro-business, pro-growth measures are delivering. There was nothing like the list I just gave of problems after 14 years of the previous Government.

• 17 Jul 2025 · Topical Questions · Hansard source

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  I can reassure my hon. Friend and all colleagues that those decisions will always be in the domain of this Government and this Parliament in the UK. There has been a lot of speculation, during the trade negotiations, about what may or may not be involved, but we have shown that we deliver on jobs, goods and services, and that is the basis of sound trade negotiations.

• 17 Jul 2025 · Topical Questions · Hansard source

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  I can absolutely guarantee my hon. Friend that we will have that meeting. I appreciate the work that we have been able to do together, reacting to the media reports that initially surfaced. There is some clarity from the company, but not the full degree of clarity that we need. I will make sure that we get that meeting set up for him and his colleagues.