Commons Sense

House of Commons · Ministers' Questions

Investor Confidence

Tuesday 29 October 2024 · 4 questions

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

Read the full transcript on Parliament.uk

At a glance

Answered 0 Partly answered 2 Not answered 0

Key points

  • The Government are committed to delivering economic stability for investor confidence through a credible Budget, strong institutions, and robust fiscal rules.
  • The Chancellor secured 63.5 billion of investment, creating nearly 40,000 jobs in constituencies across the UK.
  • The Government will provide more detail tomorrow on measures to help small businesses with business rates.

Topics (select to filter)

Questions & Answers

Q1 Tim Roca Lab Macclesfield
Economy
Context

Investor confidence has been affected by recent fiscal events. The Labour Party questions the government's ability to restore economic stability.

Question

What assessment do you have of the potential impact of recent fiscal events on investor confidence in the UK? This question stems from concerns about the Conservative party's handling of the economy and its effect on business investment.

Answer from Rachel Reeves

The Government are committed to delivering economic stability for investor confidence. Our plan includes a credible Budget, strong institutions, and robust fiscal rules. A record-breaking £63.5 billion of investment was announced at our international investment summit, demonstrating the UK's ability to attract global investment.

Partly answered

Not addressed: The assessment of recent fiscal events' impact on investor confidence is not provided with specific details.

How: Committed To Economic Stability

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Q2 Tim Roca Lab Macclesfield
Economy
Context

The Labour Party questions the fiscal credibility of the Conservative party, highlighting past events that damaged economic confidence.

Question

When does the Chancellor think the Conservative party lost its fiscal credibility? Was it with the Liz Truss mini-Budget? Was it when national debt rose from 65% to nearly 100% of GDP? Or was it when they promised to abolish national insurance?

Answer from Rachel Reeves

All of the above events have contributed to the loss of fiscal credibility. The hon. Friend is now on his place and Conservative Members are on Opposition Benches, reflecting this change.

Not addressed: The specific time when fiscal credibility was lost is not addressed.

How: Hon. Friend'S Position

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Q3 Jim Shannon DUP Strangford
Northern Ireland Business & Trade
Context

Small and medium-sized enterprises in Northern Ireland face challenges, with 85% employing up to ten people. The DUP seeks measures to support these businesses.

Question

If the Chancellor wants to increase investor confidence, the thing to do is help small and medium-sized enterprises. Tomorrow she will have the opportunity to do that. What will be done to help them? In Northern Ireland, 85% of businesses employ 10 or fewer employees. If she helps SMEs in Northern Ireland, it will increase employment.

Answer from Rachel Reeves

I recognise how important it is for us to support small businesses so they can grow and create jobs. The hon. Gentleman supports businesses big and small in his constituency, and more detail will be set out tomorrow on business rates.

Partly answered

Not addressed: Specific measures or details are not provided.

How: Recognise The Importance Of Supporting Smes

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Q4 Gareth Davies Con Grantham and Bourne
Economy Business & Trade
Context

Recent economic data shows a decline in business confidence, faster than during the pandemic. The Conservative MP questions why this is happening under current government.

Question

Clearly, the Chancellor is desperately trying to raise old ghosts, along with debt and taxes, but her own broken promises are coming back to haunt her and are frightening investors. Why does she think business confidence has fallen faster in the past three months than at any point since the pandemic?

Answer from Rachel Reeves

This Government secured £63.5 billion of investment, creating nearly 40,000 jobs in constituencies across the UK—more than twice what the previous Government achieved. This shows how important it is to work with businesses and return stability to the economy.

Not addressed: The reasons for falling business confidence are not addressed.

How: Government'S Investment Record

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