Department for Business and Trade 2025-03-05

Chris Vince agrees with his colleague's emphasis on skills development for young people, suggesting that stronger relationships between universities and businesses could be beneficial.

Gareth Snell supports the points made by Liam Byrne regarding energy costs and market access for businesses. He stresses the need to ensure that growth benefits all communities, particularly those who have been historically disadvantaged.

Rosie Wrighting agrees with the emphasis on supporting small and medium-sized defence enterprises in light of increased defence spending. She highlights challenges faced by specific sectors such as drone manufacturers in accessing finance.

The Government's policies are damaging business growth, leading to a fast rate of job losses since 2008. The Department for Business and Trade budget is being slashed by 6%, making it harder for businesses to thrive. Businesses face an overwhelming regulatory burden and increasing tax burdens, with the Employment Rights Bill adding £1 billion in costs.

The Government's Employment Rights Bill is a 192-page document that presents businesses with a vast quantity of new regulation to consider, and it seems inadequate time has been given for consideration.

There is an opportunity to deliver economic growth through a modern industrial strategy. The UK economy needs stability, predictability, and coherence. Scotland's renewable sector can create well-paid jobs if supported by the correct industrial strategy.

The Prime Minister emphasised the UK Labour Government’s commitment to protecting jobs and investment at Grangemouth, a site of economic importance in Scotland. The announcement of £200 million from the national wealth fund is aimed at securing Grangemouth's future as an industrial hub for green energy and advanced manufacturing.

Fortune argued that Labour’s tax rises and red tape are hindering economic growth. He cited a survey showing 30% of small businesses plan to cut jobs due to the Employment Rights Bill, with only 10% confident in the Government's support for business growth.

Edwards highlighted issues faced by local businesses such as difficulty finding skilled workers and accessing finance. She noted that while the Minister’s announcement about shorter apprenticeships was welcome, many small businesses are still struggling to grow due to lack of mid-range industrial space.

Cooper criticised the Government's economic strategy for lacking ambition and failing to secure business confidence. He noted that while there is additional funding for the British Business Bank, it may not be enough to support scale-ups in Britain compared to global competitors like the US.

Emphasised the need for ambition in international trade, criticising the lack of progress and urging the Department for Business and Trade to boost growth.

Welcomed the debate on priorities for economic future, focusing on supporting SMEs through digital inclusion, financial literacy, access to finance, workforce reskilling, export-led growth capabilities. She advocated for easier access to grants and R&D tax reliefs, streamlining public procurement processes, and initiatives for businesses to access finance.

Stressed the importance of investment in Scotland’s economy, highlighting its GDP growth since 2007 and productivity rate. Criticised the negative impact of national insurance on Scottish businesses and the cost implications of Brexit for Scotland. Advocated for recognition of Scotland’s potential in energy transition and advanced technologies.

Discussed Portsmouth's shipbuilding history and current economic challenges, including job losses and low-wage employment. Emphasised the need for a modern industrial strategy to promote growth, investment, security, and well-paid jobs in the city.

Critiqued Labour’s policies as discouraging business growth, citing national insurance hikes, employment laws, and capital gains taxes. Argued that these measures would hinder small businesses and entrepreneurship.

Expressed concern over the impact of Labour’s national insurance hike on rural high streets and local businesses. Highlighted the need to preserve unique character in historic villages and towns.

Expressed concern over the impact of increased National Insurance Contributions on small businesses. Cited examples from local pubs such as The Station Tap facing £12,000 additional costs annually and the potential loss of business rates relief harming independent publicans. Advocated for meaningful reform in business rates and a shift towards taxing large corporations to support smaller enterprises.

Called out the Secretary of State's lack of action on delivering a comprehensive industrial strategy, providing tools for small businesses, trade deals with international markets, and changing employment laws. Critiqued the Department’s handling of trade negotiations, suggesting incompetence or deliberate harm.

Emphasised the importance of hearing business voices and understanding their challenges. Urged for unity and collaboration towards economic growth, noting geopolitical shifts and the need to support a multilateral rules-based order.

Made criticisms of the Government regarding its handling of industrial strategy and economic challenges. Used football analogies to critique the approach, suggesting it's premature to celebrate progress.

Discussed workforce development with a focus on apprenticeships and alignment with industrial strategy for growth in targeted sectors. Supported shorter duration apprenticeships from August 2025.

Asked about the utilisation of the British Business Bank to assist businesses in accessing finance, calling for a clearer information and option availability framework.

Discussed the impact on Grangemouth refinery, expressing regret over government intervention but highlighting support measures such as growth deals and industrial options projects.

Highlighted community impacts from lack of strategy in her constituency. Acknowledged Defence contributions and expressed need for industrial strategy alignment with long-term sector plans to spur growth across the UK.

Called for attention to foundational industries like ceramics as they underpin high-growth sectors, urging inclusion in future strategies.