Commons Sense

Hansard-based summaries and metrics

<-- Back to proposed bills

Economic Growth

07 September 2026

Proposing MP
John Healey Lab
Wentworth and Dearne
Type
Written Ministerial Statement
Department
Treasury
View on Parliament.uk -->
TAGS
Culture, Media & Sport Economy Employment Foreign Affairs

At a Glance

Issue Summary

The statement addresses the Government's commitment to delivering economic growth in the UK despite global challenges.

Action Requested

The Government will restore power and resources to local leaders to build infrastructure, boost private investment, and develop local industrial strategies, and will sharpen the focus of Public Financial Institutions to align with Government priorities. Additionally, the Government will earmark dedicated funds to support British innovation and strengthen support for high-growth businesses.

Key Facts

  • The UK has significant economic strengths including life sciences, defence, technology, creative industries, and financial services.
  • Borrowing is falling, and the UK saw the fastest G7 growth in the first half of the year.
  • The UK has had the lowest investment rate among G7 countries for most of the last 20 years.
  • The Government will aim to double the number of unicorn firms in the country.
  • Alan Milburn will set out recommendations on how to address youth unemployment this autumn.
▸ Assessment & feedback
Summary accuracy