Richard Tice MP: speeches

Speeches

• 24 Jun 2026 · Climate Change · Hansard source

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  Oh dear, oh dear. How desperately sad it is that the hon. Lady does not appreciate that the wholesale price of electricity, which some claim is driven by gas, is about a third, so it is not the majority—a third is less than 50%. The simple reality is that there is a direct causal link between the growth of renewable generating capacity in the last 20 years and the growth of our electricity prices to the highest in the western world. That is the reason that everybody is feeling so much poorer. It is as simple as that. All the advocates of the renewables industry cannot answer the question: when are the bills going to come down? The answer is: they are not going to. The Government can try to cheat by putting it into general taxation, but the simple fact is that, actually, costs are going to go up. We have heard, for example, that the cost of more contracts for difference is going to increase by £4 billion, £5 billion or £6 billion by 2030, and that the extra cost to the grid is going to increase by some £10 billion a year by 2030. Per household—which is how people will want to understand it—that equates to about £500 per year extra on the cost of living because of the costs of net zero. Everybody needs to understand that point, as they debate and vote on this issue. As we look to the future, having explained the history and the economics to those who do not seem to understand, we hear that the Secretary of State for Energy—he is rather absent at the moment; where is he?—wants to get rid of all our wonderful tumble dryers. No, no, we can’t have tumble dryers in the brave new world of the Secretary of State for Energy! Then we hear that, through this carbon budget, the Government want us to reduce our dairy and meat consumption by some 20%. We have had enough of this. We should vote against this ridiculous motion and scrap net stupid zero.

• 22 Jun 2026 · UK Politics: Pro-Israel Influence · Hansard source

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  It is a pleasure to serve under your chairship, Mrs Harris. This motion is antisemitic in its very motivation and at its core. As such, we should utterly reject it. Hon. Members have spoken brilliantly and passionately about that, but we can turn that terrible negative into a positive. The motion asks us to talk about the influence of Israel on democracy. Democracy thrives when citizens are healthy, so maybe we should celebrate the incredible brilliance and influence of Israeli scientists, entrepreneurs and those specialising in medical research and artificial intelligence applications. Their work and innovations, whether they live in the state of Israel or somewhere else such as London, have an incredibly positive influence on the success and health of us all. We should say that we want more of that success and brilliance—more of that innovation and more partnerships with brilliant Israeli scientists who can share their knowledge and understanding. I want more entrepreneurs from Israel listing their companies on joint listings, preferably on the UK stock exchange rather than somewhere else. I want more AI experts from Israel sharing that best practice and knowledge for the benefit of all of us.

• 8 Jun 2026 · Steel Industry (Nationalisation) Bill · Hansard source

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  The Father of the House is absolutely spot on. The net-stupid-zero policies have been catastrophic across the piece, and I fear that those very policies are the reason why people are concerned about the possibility of opening an electric arc furnace. That puts even greater pressure on the need to have a renewed, brilliant, wonderful blast furnace capability for the next 50 years. If we achieve those things, we can bring in private sector capability with a pro-British procurement strategy. That will give confidence to all. It has been mentioned that the Bill would somehow prevent other investment from the private sector. The discussions that I have had with overseas pension funds and overseas sovereign wealth funds suggest exactly the opposite. They suggest that, with this sense of commitment—what I like to call a joint venture with the core asset, under public ownership—we will attract more international investment, because people will know that there is a long-term commitment as opposed to the wibbly-wobbly, flip-flop approach of previous regimes. That is the reason that we need to get on with this. We need to ignore any delaying amendments. Let us have the vision. New clause 5 would require the Government within three months to set out that 10-year vision and 10-year commitment to the blast furnaces and others in the steel undertaking, to ensure that we have a vibrant and, ultimately, viable primary steel-making capability in the United Kingdom.

• 13 May 2026 · Debate on the Address · Hansard source

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  The hon. Gentleman clearly has not looked at the data, because it shows that we have secured some 1,450 new councillors. I think the Labour party has lost well over 1,000 councillors, to the benefit of our great country.

• 13 May 2026 · Debate on the Address · Hansard source

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  Eighty-six years ago today, on 13 May 1940, Britain’s greatest and most popular Prime Minister, Winston Churchill, rose to give his first speech as Prime Minister. At a time of war, he said that he could offer nothing but blood, sweat and tears. Eighty-six years later, we have heard from Britain’s most unpopular and possibly worst Prime Minister ever. After just 22 months, all we have had is failure, incompetence and negligence. We have a programme of government in this King’s Speech that, in a sense, represents everything that the Prime Minister we currently suffer under represents—process and regulation. The thing is that that just drives up costs. I can see nothing in this programme of government that will actually reduce bills and the cost of living and drive up growth, prosperity and the quantity of jobs.

• 22 Apr 2026 · Pension Schemes · Hansard source

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  I have constituents in Boston and Skegness who have suffered because of the ridiculous and appalling failures of Capita under these two contracts, and they are not the only contracts on which it is failing. To what extent has the Minister looked at the bigger financial picture at Capita? Last year, it earned revenue of almost £1.5 billion from the Government. It has contracts worth over £7 billion, yet it has just disclosed in its results that it has lost over £150 million. It has debts of £140 million, and its market cap is only £350 million. Given how much outsourcing work it does for so many British citizens, to what extent are the Government preparing for plan B in case of a financial crisis at Capita?

• 25 Nov 2025 · Pension Investment in UK Equities · Hansard source

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  Is the Minister aware that the quantity of listings on the London stock market has collapsed by about 80% in the last decade, and that the number of companies listed on AIM—the alternative investment market, which was the original growth market 40 years ago—has fallen to a 25-year low, so something fundamental is going wrong with our listed markets?

• 25 Nov 2025 · Pension Investment in UK Equities · Hansard source

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  It is a great pleasure to serve under your chairmanship, Mr Stringer. I congratulate the right hon. Member for Salisbury (John Glen) on securing this debate. In reality, equity investment from pensions is deteriorating because UK equities are not performing relative to their global counterparts. One of the reasons for that is that we have become over-regulated and over-taxed. When the big bang was launched 40 years ago, the City of London became the most important financial centre in the whole world. In the last 10 years, that has changed. That is why, at Bloomberg a couple of weeks ago, I announced the creation of four key working groups to look at a complete reset—a sort of big bang 2. We need to look again at the whole issue of regulation, and at the status of the FCA relative to the PRA and the Bank of England—that is working group No. 1. Working group No. 2 is on pensions and savings. We also need to consider big-picture issues: why, for example, are we giving tax relief on £300 billion of cash ISAs? How does that help the UK economy? Those are the big questions that we need to look at. The third working group is on small and medium-sized enterprise growth capital. The right hon. Member for Salisbury asked why it is that on second, third and fourth-phase rounds of fundraising, companies are going elsewhere in the world. The truth is that our markets have become too difficult for raising that additional capital. The fourth working group that I have set up—and it will report in six to nine months’ time—is on taxation. We are over-taxed, and we enjoy the longest tax code in the world. At 24,000 pages, it is four times the combined works of “Harry Potter” and nothing like as much fun. We need to look again at all those issues, and then we need to look at the performance of our pension funds. If we look at the performance of one of the biggest pension funds in the world, the local government pension schemes, which I have been very focused on, we will see that they are being overcharged substantially, by a factor of about five of what they should be paying, and they are underperforming. In the year to March ’25, the LGPS produced a great performance—not—of 3.3%, yet paid out over £2 billion in fees. Frankly, if the active funds cannot match the tracker, why not use a tracker? That is the challenge for the active industry. One of the reasons that the LGPS is underperforming is because too much of them are invested in unlisted funds, and now invested in what I would call quite woke funds, but that is a whole different issue. People cannot get out of those unlisted funds, which are at 20% to 40%, and those funds cannot be properly valued. The fees are much higher and they are not performing as well. Those are the key reasons why the performance is deteriorating. The 10, 20 and 30-year track records of the local government pension schemes are all at over 7% in the long term, but in the short term, they are rapidly deteriorating because of wrong investment decisions and overpaying fees, and because we have a market in the UK that is over-regulated and over-taxed. All of those things reduce the incentive to invest. For many people, it is complicated, but fundamentally, if the active fund managers overcharge and underperform, we should not be surprised if investors end up going elsewhere, and that might mean overseas. We need to change the way we look at things, deregulate sensibly and reduce unnecessary taxation in order to improve the quantity of pensions invested in UK-listed equities.