Commons Sense

House of Commons · General Debate

Economic Security 2026-02-05

05 February 2026 · 3 other contributors

Opened by Liam Byrne Lab Birmingham Hodge Hill and Solihull North

EconomyBusiness & Trade

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Liam Byrne raised concerns about economic security 2026-02-05 in the House of Commons. Other MPs contributed to the debate.

Key points

  • The Business and Trade Committee published a report on economic security.
  • The report recommends establishing a statutory basis for an economic security regime.
  • The report calls for improvements in threat diagnosis and development of sovereign capabilities.

How the debate unfolded

MPs spoke in turn to share their views and ask questions. Here's what each person said.

Opened the debate

Liam Byrne Lab Birmingham Hodge Hill and Solihull North

The Business and Trade Committee published a report on economic security, highlighting the need for new defences against increasing threats to the UK's economic security. The report recommends establishing a statutory basis for an economic security regime with a cross-Government Minister for economic security and a proper centre for economic security at the heart of Government. It also calls for improvements in threat diagnosis, development of sovereign capabilities, diversification of supply chains, defence of critical national infrastructure, deterrence against those seeking to damage the UK economically, and collaboration between HM Government, the private sector, and allies.

Other contributors (3)
  • Liam Byrne Lab Birmingham Hodge Hill and Solihull North

    Expressed gratitude for the Backbench Business Committee allowing time to discuss economic security. Discussed the need for a whole-of-society approach to economic security, outlined the committee's recommendations, welcomed some aspects of the Government’s response but lamented their rejection of 10 out of 25 recommendations. Highlighted concerns about forecasting future threats, cyber-security standards, and controlling foreign subsidies.

  • Greg Smith Con Mid Buckinghamshire

    Asked about the extent to which the Government's foreign policy prioritises economic security, particularly regarding over-subsidised countries like China. Questioned whether the UK is undermining its own industry by resetting relations with some countries.

  • Mike Martin LD Tunbridge Wells

    The Committee's report highlights the importance of ensuring economic security through consistent and persistent policies. The upcoming defence readiness Bill presents an opportunity to establish a statutory basis for such strategies, akin to those in place among allies like Japan, Europe, and the United States.

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