Robert Jenrick
MP for Newark · Reform UK · United Kingdom
“Robert Steele was a beautiful four-year-old boy who died three weeks ago in Newark when he was thrown from an off-road bike that was being driven by a 24-year-old man. This is the culmination of a number of incidents in my town, and many others across the country, involving off-road bikes, e-bikes and e-scooters.”
“The Minister said that Governments are elected to lead. Most people would assume that means that Ministers are elected to lead, because they are accountable to Parliament and to the people.”
“There is an air of total unreality hanging over this debate. Successive Governments have run down our Royal Navy to its present enfeebled state, they have conspired to surrender other British sovereign territory and we have a Government who procrastinate about signing off a new oil field in the North sea—let alone about one in the south A…”
“I welcome the right hon. Gentleman to his position. I have known him for a long time—I wish him well. He has a huge task ahead of him. Earlier in the summer, the Prime Minister said that walking the streets of Makerfield lodged in his mind that so many working people want to see the personal allowance raised.”
“Imagine that you are a worker at JLR worried about your future, and you have the misfortune of watching the Chancellor’s speech, which contains searing economic insights like, “I want to see businesses make a profit.” There was nothing about scrapping electric vehicle mandates, bringing down energy costs by getting rid of net zero targets…”
“The sight of the Government escorting illegal migrants into Portsmouth harbour, the home of the Royal Navy, was a national humiliation. Sometimes I wonder whether Members of this House have no appreciation of the level of anger there is in the country at the rapes, the murders and the billions being wasted that should be being spent on th…”
The complete record
Every one of 4,906 lines we hold for Robert Jenrick, in date order, each linked to its source. Free to read, in full, without an account. Page 72 of 99.
“We are seeing mayors across the country driving their regions’ economic strategy, including great mayors like Ben Houchen in the Tees Valley and Andy Street in the West Midlands. We want to see more mayors, but we have to be mindful of the original purpose of devolution, which, as my hon. Friend said, is the role of cities and their immediate hinterland in driving productivity and economic growth.”
“The UK is one of the best places in the world to start a business, and a new business is being established every 75 seconds in this country. The Government champion entrepreneurship by keeping business taxes low and helping entrepreneurs to access the finance they need.”
“My hon. Friend has named some of the measures that we have recently brought forward to support entrepreneurship in all parts of the country. At the recent Budget, the Federation of Small Businesses declared it the most business-friendly Budget ever, and rightly so. We have extended the start-up loans scheme, helping an extra 10,000 entrepreneurs to get the capital they need, and with that—along with our reductions in business rates and with entrepreneurs’ relief, the seed enterprise investment scheme, the enterprise investment scheme and reductions in corporate taxes, including for small businesses—we are creating the most globally competitive tax regime to support those who create jobs and enterprise in our country.”
“I would be very happy to meet the hon. Lady. We are continually pressing the Payment Systems Regulator and the LINK organisation, which manages the ATM network, to ensure a good supply of cash in all parts of the country. We recently issued a call for evidence at the Treasury to give greater consideration to how we can maintain that supply as we move to an increasingly cashless society and protect those who are vulnerable and harder to serve, perhaps including the hon. Lady’s constituents.”
“I concur with everything my right hon. Friend has said. This is of course a country of entrepreneurs. All our most recent statistics have shown that the UK is attracting entrepreneurs from around the world. We are the third leading destination in the world, after the US and China, for inward investment. That is not happening by accident; it is happening as a result of the pro-business policies of this Government, creating the most globally competitive tax regime and investing in our productivity.”
“The Government are making a range of plans to support businesses in the event of all Brexit outcomes. For example, Her Majesty’s Revenue and Customs is increasing its guidance to firms online and by writing to more than 140,000 businesses across the country to ensure that they make appropriate plans. As I have already described, in the Budget we made a whole range of moves to support small businesses across the country—business rates relief, the future high streets fund—all of which have been Barnetted. It is for the Scottish Government to come forward with their plans for how they intend to support small businesses; at the moment, there is only silence.”
“We do agree with that. All the evidence suggests that small businesses would benefit from better quality advice across a range of areas. Recently in the Budget, we have supported extra funding for networks, to bring businesses together, and we are working across the Government to think about ways in which we can improve the quality of advice and increase competition within business advisory services.”
“If the hon. Gentleman wanted to give greater certainty to businesses in his constituency, he would support the deal. He did not do so in the recent vote, but I hope he will come forward and do so shortly. I would not be so negative about the business community and the state of the economy in Yorkshire. We have record levels of employment, the jobs market is the second best in the country and real wages are rising. In Yorkshire, real wages and household disposable income are rising above the national average.”
“We have made a number of interventions in this space, because as my hon. Friend says, while the UK is generating record numbers of start-ups, there is evidence that we need to help businesses to scale up and achieve their full potential. We launched the patient capital initiative, and we put £2.5 billion behind the British Business Bank to help small businesses in all parts of the country, including Scotland, and it is making good progress.”
“We are taking a range of steps to ensure that banks are able to finance small businesses. For example, as I have just described, we are establishing the British Business Bank, which is supporting tens of thousands of businesses across the country, including many in Scotland, and helping to ensure that finance is available. The venture capital sector is vibrant and maturing in all parts of the country—not just the areas traditionally associated with venture capital, such as London, Oxford and Cambridge—and helping those businesses to scale up.”
“We have taken action already to ensure that banks, including Santander, work more closely with post offices, so that there are always banking services available in all parts of the country. We give post offices over £50 million in financial support a year to help keep branches open, particularly in rural and harder-to-serve communities.”
“The hon. Lady is incorrect. Over the course of this Parliament, infrastructure spending will be highest in the north of England—higher than in London, higher than in the south-east and significantly higher than under the last Labour Government.”
“We have made more than £1.5 billion available to reduce the impact of business rates on smaller retailers. At the Budget, we provided a 30% discount for small retailers, which will have a huge impact in my hon. Friend’s constituency. We have the £675 million future high streets fund, and we are also bringing forward planning reforms to make it easier for small businesses and entrepreneurs to change the use of their shops and restaurants.”
“Friend also said, that latter course would leave us in an unacceptable position in terms of our competitiveness, our ability to invest in public services and in the economic infrastructure that will drive the economy forward, and our ability to reduce taxes—all of which we want to do.”
“This is not unique to the United Kingdom; it is a feature of almost all liberal democracies that, unchecked, the constant desire of politicians to promise more and more and to borrow more and more may turn out to be one of those democracies’ gravest weaknesses. We want to leave the next generation a strong country, not one that is saddled with debt. The latter course would leave our economy, as my hon. Friend said clearly, at an unacceptable level of risk were there another macro- economic shock, which inevitably there will be. The Office for Budget Responsibility sensibly predicts that there is a 50% chance of one within the next five years. As my hon.”
“Friend, I came to this House with the conviction that this country must live within its means, that it is the responsibility of our generation to be more fiscally responsible than those who came before us, that it is a moral imperative to do so, and that we must not leave the country in a weaker state, saddled with debt for the next generation to cope with. That is the task that the Chancellor, like his predecessor before him, and all of us at the Treasury have to take forward. As my hon. Friend eloquently said, that task will also preserve what we care about in this country’s democracy.”
“Thank you, Mr McCabe—it is a pleasure to serve under your chairmanship. When I saw that so few colleagues from both sides of the House had attended this debate, I thought that my hon. Friend the Member for North East Derbyshire (Lee Rowley) had rather made his point without having had to get to his feet. Of course, he continued with his speech for an hour, in three parts—a structure that all the best screenwriters tell people to use. He made some important points, and I do not demur from many, if any, of them. Like my hon.”
“Of course there was a macroeconomic shock in 2008, but what I think the hon. Gentleman is asking is whether the then Government had prepared for that shock. Of course they had not: all the estimates and analysis suggest that public spending significantly overran growth in the years leading up to the macro- economic shock. That is exactly what this Government have set out to avoid.”
“That is an important step forward, but there is a great deal more to do.”
“As we have already heard today, a great deal of progress has been made in that respect. Of course there is more to do, but we have to recognise the considerable progress that we have made. In 2010, as my hon. Friend the Member for North East Derbyshire said, we inherited a very severe situation: debt had nearly doubled in two years and was snowballing, while the deficit soared to a near record level—the highest in 50 years. Of course the financial crisis had contributed to that, but so had poor management of the public finances in the years leading up to it. We have made progress, and we are nearing a turning point in the public finances. Debt has begun its first sustained fall in a generation and the deficit has been reduced by four fifths—from 9.9% of GDP to 2% at the end of 2017-18.”
“Sensibly, given uncertainties in the fiscal outlook, the Chancellor took the view that we should retain the £15 billion of headroom against the fiscal mandate in the target year and £73 billion against the target of getting debt to fall. The forecast also shows that borrowing will fall to 0.8% of GDP by 2023-24, its lowest level since 2001.”
“Friend made clear, that has an opportunity cost, because that spending has no economic or social value and reduces our ability to spend on our priorities and keep personal and corporate taxes as competitive as possible. The debt burden of interest is merely being passed to future generations. The foundations of the Government’s approach are our fiscal rules: first, to reduce the cyclically adjusted deficit to below 2% by 2020-21, and secondly to have debt fall as a percentage of GDP in the same year. Sticking to those rules will guide the UK towards a balanced budget by the middle of the next decade. The OBR’s economic and fiscal outlook, which was published in October and was quoted from earlier, shows that the Government are forecast to have met both our near-term fiscal targets in 2017-18, three years earlier than predicted.”
“The debt is still more than 80% of GDP, which is equivalent to approximately £65,000 per household, and we want to reduce that figure, for a number of reasons. We are concerned to ensure that if there is a future economic shock, the economy is resilient, and we want to improve fiscal sustainability. In the most recent Budget, the Chancellor set aside £15 billion of headroom for economic shock, out of concern for any further uncertainty that might arise as a result of Brexit. There is a broader point, however: servicing debt is costly. If our spending on debt interest were a Ministry, it would be the third largest, after health and education. Our spending merely on servicing our debt is equivalent to what we spend on the police and the armed forces. As my hon.”
“No, I do not accept that for one minute. It is exactly as a result of this Government’s fiscal responsibility in that period that the public finances have now improved, credibility has been restored in the market and business has continued to invest. For those reasons and others, we now have continued record levels of employment, record low levels of unemployment and an economy that remains remarkably resilient. Let us not forget that public spending is £200 billion higher today than it was in the last year of the last Labour Government. We are not complacent about the debt or the deficit. The fiscal outlook may be brighter, but the need for fiscal discipline continues, as my hon. Friend the Member for North East Derbyshire made very clear.”
“The hon. Gentleman rather makes the point that my hon. Friend the Member for Cheltenham (Alex Chalk) made. He cannot have it both ways. Either the hon. Gentleman supports debt falling—in which case he should support continued fiscal responsibility, which is one of the Government’s guiding missions—or he wishes to spend more and more. His speech argued that we should spend even more, getting us into further debt and making the situation more difficult for future generations.”
“Over this Parliament, we will make the greatest investment in such economic infrastructure—our roads, our railways, our digital infrastructure—by any Government since the 1970s. I thank my hon. Friend the Member for North East Derbyshire for his remarks. This is an extremely important and timely debate. He made his case in his usual eloquent way, as one of the great champions in this House of smaller Government, lower taxes and fiscal responsibility. If only there were more colleagues who followed his example.”
“We have also taken action to ensure that our public accounts are among the world’s most transparent—they have been certified as such by the International Monetary Fund, for example. Most recently, the Chancellor announced the retirement of the private finance initiative, so that we continue to ensure that when our accounts are scrutinised, they are as clear and transparent as possible and we are always seeking to derive the greatest value for money for the taxpayer. We have also sought to distinguish clearly between day-to-day consumption—important though such investment is for the future of the economy, whether it is in the police, in education or in the health service—and the long-term economic infrastructure investments that will really drive the economy forward.”
“Our greatest step was the creation of the OBR, an institution that is now maturing and respected and will be retained on a cross-party basis in the future. It has enabled commentators and Members to have greater confidence in the figures—of course, there may be more that could be done in that respect. This year, we will institute the first zero-based spending review, which will look at all Government spending. We have taken account of the parallel with Chile, which has adopted that model in that past. On longer-term spending, we have created the National Infrastructure Commission, which was designed to ensure that the Government think about the long-term challenges and invest appropriately within a defined spending envelope, guiding investments in our infrastructure according to a clear economic strategy.”
“I have tried to answer. We are meeting our fiscal rules, as the OBR states—in fact, we are meeting them three years early. That has given us room in the Budget to invest at record levels, with £20.5 billion a year for the NHS, for example—its largest injection—and reserve headroom in the event of fiscal shock. However, the hon. Gentleman is arguing for £500 billion of additional public spending. As my hon. Friend the Member for Cheltenham said, that makes no sense whatever. In the little time I have left, let me answer the question asked by my hon. Friend the Member for North East Derbyshire about how we can create better architecture to ensure that we and future Governments can be more fiscally responsible. We have done so in a number of ways.”
“A number of shops and music festivals have suggested they may go cash free to reduce criminality.”
“Friend said, digital payment technologies offer considerable opportunities for everyone, including vulnerable people. Ensuring that the UK leads in this area offers opportunities for new FinTech businesses and jobs, and exports, which I just mentioned. It also provides extra flexibility and convenience for businesses and consumers, such as those who travel by bus or taxi in London or, as we heard, by bus in Bristol. If we get the technology right and ensure it is sufficiently competitive, it may provide lower transaction costs for consumers and small businesses. As we heard, it also offers us the opportunity to lower the tax gap, which would mean lower taxes for all the rest of us who pay our fair share of taxes, and there will be public safety benefits if we can ensure correct enforcement and increased public trust.”
“We have already heard examples of those firms, which are transforming the financial services sector. TransferWise, which set up in London eight years ago, is another. It now serves more than 4 million customers and transfers more than £3 billion of funds every month. The wider payments industry is also embracing new technology. For example, as a result of legislation brought in by this Government, UK banks and building societies have been able to introduce cheque imaging. That innovation offers people the additional option of paying in a cheque through their smartphone rather than having to go to a bank. That benefits people who are harder to serve, such as those my hon. Friend mentioned—people in rural areas and those with limited mobility. As my hon.”
“Friend, we want the UK to be at the forefront of technological change, to embrace the opportunities and, as we have heard from the tenor of the debate, to ensure that that change works for as many people in society as possible. That includes taking a lead in supporting the Competition and Markets Authority’s open banking initiative, which aims to make it cheaper and easier for innovative new firms to provide financial products. Building on that, the Government have tried to lead on FinTech with our FinTech sector strategy, which was published last year and sets out our plans for ensuring that the UK remains the best place in the world to start and grow a FinTech firm. Nearly 100,000 people in the UK now work in the FinTech sector; almost none of those jobs existed just 10 years ago. The UK genuinely is a market leader in this field.”
“Increasingly, they can also offer additional services, such as ways to help budget, keep a record of transactions and manage financial affairs, which can play an important role for those who, traditionally, would be considered more vulnerable and harder to serve. As my hon. Friend also mentioned, the public support and trust our historic currency in cash and notes—perhaps to a surprising extent. We have seen that over the course of the past 12 months, with campaigns to save the penny and for a Brexit coin, and the Royal Mint sees it every day with the demand for collector’s coins, both on its website and at its south Wales shop. The pace of technological change has never been faster, and it will never seem so slow again as it continues to accelerate. Like my hon.”
“It is a pleasure to serve under your chairmanship, Mr Gray, and to respond to the debate secured by my hon. Friend the Member for Boston and Skegness (Matt Warman). I thank him for his suggestion that I get a chip implanted in my arm—I have only just started paying with my Apple watch, so that might be some way off. I will suggest it to the Chancellor as something that he might like to do. As my hon. Friend laid out, all the evidence suggests that people are increasingly turning to digital payment methods. In 2017, debit cards overtook cash as the most frequently used payment method in the UK. The Government support digital payments, which, as we have heard in the debate, can offer consumers and businesses convenient, tailored and flexible ways of purchasing goods and services.”
“Friend the Member for Boston and Skegness, we want to guide the economy and the public through the undoubted and probably irreversible journey to a cashless society, and we want to ensure that the UK is at the forefront of new technology while protecting the most vulnerable in our society. Question put and agreed to .”
“There are no simple solutions, but we look at international examples, such as Singapore, Hong Kong and other parts of the world that are particularly engaged with this question. Hon. Members from across the House with proposals and ideas are very welcome to come to see me or other Treasury Ministers as we consider how we can continue to engage with this issue and drive the sector forward. We need to consider the impact of the increasingly digital world on society and our economy and find ways to overcome the challenges it presents. Cash use remains important, with more than one third of payments in the UK made in cash. However, like my hon.”
“How can that business model be either profitable or supported by the rest of the economy? In addition, the payments industry is progressing initiatives such as Request to Pay, which can help increase and promote financial inclusion. The Request to Pay service aims to give payers more control over outgoing payments and to help people avoid the cliff edges that can be created by irregular incomes or unexpected bills. The rise in digital payments has been remarkable. It is not unique to this country; it is happening in all parts of the world, including in perhaps unexpected places such as Africa and the developing world. Contactless payments in this country grew by 99% in 2017, and we expect that trajectory to continue. We welcome proposals to enable the UK to embrace that change.”
“It is true that there are probably too many ATMs in some of our urban areas, but there is real concern about the number of ATMs in smaller market towns, on the smaller high streets of larger cities such as Bristol, and particularly in villages. The review is exploring the risks of leaving people behind as we increasingly utilise digital payments. As we heard, its interim report found that many consumers still value having cash. The wholesale cash industry is also considering the infrastructure required to continue to service cash use as it declines. That will be a serious challenge in the years to come, and we want to be prepared for it. How can we ensure that every shop, restaurant, post office and community in every part of the country, including rural areas, continues to be able to obtain the cash it needs?”
“Cash—our coins and notes—will be with us for a long time to come, so its continued availability in all parts of the country for all groups needs to be planned carefully by the Government, financial institutions such as the Royal Mint and the Bank of England, and the payments industry. We are working closely with the industry, which recognises the challenges. Last year, LINK, the UK’s ATM network, announced an independent review of access to cash, chaired by Natalie Ceeney, in response to some of the concerns and criticisms raised over the course of 2018 about the decline in the number of ATMs, particularly in rural areas.”
“We must ensure that those who rely on cash are not excluded as digital payments become more prevalent. We can of course play a role in guiding them to see some of the benefits and opportunities of digital payments. My hon. Friend the Member for Boston and Skegness mentioned examples of people for whom digital payments may be very useful indeed, such as those on lower incomes and migrant workers. We launched a call for evidence last year to better understand the role of cash and digital payments in the new economy, to explore questions such as how we can maintain access to cash for those who need it, and to better understand the trajectory of cash use. We concluded that although we are probably heading towards a cashless society, we should seek to facilitate and encourage that.”
“It is also worth mentioning the societal benefits of developments in other parts of the world, particularly in Africa and the developing world, where organisations and companies that have taken the lead on mobile payment services, such as M-Pesa, have been truly transformational in opening up new opportunities for entrepreneurship and person-to-person payments. We have seen that happen in those parts of the world, and we want it to happen in this country, too. We heard about some of the challenges associated with the increase in digital payments and the falling use of cash. It is worth noting that cash payments fell from 61% of all payments in 2007 to 34% in 2017. However, 34% is still a significant proportion, and about 2.7 million people in the UK remain entirely reliant on cash.”
“We work closely with the Home Office on economic crime. In fact, last week the Chancellor and the Home Secretary launched a new taskforce on economic crimes, which will include cyber-security and digital payments. Of course, we work across the full range of financial institutions and authorities to ensure that they take this issue seriously. The Government’s cyber-security strategy, in which we have invested almost £2 billion, is designed to increase capability and awareness among financial institutions and police forces across the country. Police forces need to take this issue very seriously as crime changes.”
“We are doing that through entrepreneurs’ relief, the seed enterprise investment scheme, the enterprise investment scheme and venture capital trusts, which we are continually trying to improve, to ensure that in the UK we have the most competitive market we can, directly comparing ourselves, and renewing those comparisons, with the US, France and Germany. I am grateful to my hon. Friend the Member for Stirling and to other Members who participated in the debate. I hope that they can recognise the Government’s commitment to the agenda, and the intense work we have done over the past two years, and will continue to do in the months and years ahead. We will continue to welcome thoughts and contributions to inform those future decisions.”
“We are very engaged with such questions. We are engaged also with the question of the geographical spread of venture capital and business angels, as was mentioned by my hon. Friend the Member for Ochil and South Perthshire (Luke Graham), to ensure that individuals and entrepreneurs have access to capital wherever they choose to set up their business and do not feel the need to come to London or the south-east. Finally, through the tax system, we continue to make the UK the most competitive environment we can for entrepreneurs and investors.”
“We think that that can play an important role and, although I would not overstate the EIB’s impact on the British economy or our infrastructure finance, there are reasons to believe that it played an important role. We believe that we can find our own way forward as we leave the European Union. On smaller businesses, helping them to scale up is extremely important, as we have heard. The UK has a good record of creating start-up businesses, but not as good a record as we would like of ensuring that they scale up and create jobs and prosperity for all parts of the UK. That is a challenge that we have set the British Business Bank, of working to support investment such as creating regional pools of capital, which we have done with the midlands engine and the northern powerhouse, and there may be further scope for doing that in the future.”
“We have very mature markets in the UK for infrastructure investment, for privatised utilities for example, but the Chancellor has made it clear, and we noted this again in the political declaration, that we are actively exploring options for a future relationship with the EIB, just as the bank does with other third countries. One cannot be a member of the bank if one is not a member state. We are interested in the proposal to create a UK infrastructure investment bank, for which my hon. Friend the Member for Stirling laid out some of the arguments. We think that there are important arguments there, and we will consider the proposal as part of the review of infrastructure finance announced in the Budget, about which we will give more details shortly.”
“As we announced in the Budget, we are now reviewing our existing support for infrastructure finance, to ensure that as we leave the European Union we continue to guarantee that good projects in the UK receive the finance they deserve. We are also making a number of interventions to support new technologies, in which we believe the public and private sectors can work together, with the public investing to crowd in private sector investments. Two notable examples are a recent intervention on digital infrastructure, and also one on electric car charge points, in which the Government have invested £200 million. We believe that there is more scope for that in the future. On the European Investment Bank, the EIB, it is important to remember that a significant funding gap has not emerged since the referendum.”
“So a thriving private sector is extremely important, and we need to consider that when taking into account some of the comments we heard earlier about political risk in this country, due to both a break-up of the Union and also the Opposition’s policies of nationalising utilities. The Government support investment using a range of tools, including stable, independent regulation, of which we have some of the best and most admired in the world—there are, of course, ways in which we can improve it. In the Budget, we commissioned the National Infrastructure Commission to consider how we can make our independent regulators more innovative, and improve the regulatory model without throwing it aside. We use contracts for difference in renewable energy, and the £40 billion Treasury UK guarantee scheme plays an important role.”
“Members to engage with the British Business Bank, if they have not done so already. On infrastructure, which we have heard about today, as a Government we have made an important decision—one of the Chancellor’s first decisions on taking up his position two and a half years ago—to significantly increase public investment in our economic infrastructure. Over this Parliament, such investment, including in digital and transport, will reach levels not seen in this country since the early 1970s. We want to ensure that that feeds through into the private sector, and if we want to deliver on those plans—we now have a £600 billion pipeline of infrastructure investment—there will need to be a partnership with the private sector, financed and delivered privately.”