Contribution
It is a pleasure to serve under your chairmanship, Mr Turner. Please do not adjust your sets: I am not the Economic Secretary to the Treasury. But I am very pleased to be here on her behalf for my first stint at the Dispatch Box. [Hon. Members: “Hear, hear!”] Thank you.
I am grateful to my hon. Friend the Member for Oldham West, Chadderton and Royton (Jim McMahon) for securing this important debate. He is a huge asset not only to our party and his constituents but to the Co-operative party, which he proudly serves as chair. I must declare that I am a recently rejoined member of the Co-operative party. I did not know that I would be doing this debate when I joined, but it is a pleasure for it to have come round so soon. As so many others have done, I note the sterling work of the party’s general secretary, Joe Fortune. I also want to recognise the party’s fantastic head of politics, Caitlin Prowle, who I am sure has put a huge amount of work into this debate.
The level of interest in this topic reflects the Government’s strong support for the co-operative sector and underlines how important it is to ensure that the sector continues to grow, thereby supporting local people and communities. It also reinforces why, in our manifesto, we committed to doubling the size of the co-operative and mutual sector.
I thank colleagues from across the House for their thoughtful contributions. My hon. Friend the Member for Beckenham and Penge (Liam Conlon) talked about the importance of community housing. My hon. Friend the Member for Rochdale (Paul Waugh) talked about the Metro Moneywise credit union, which is clearly building on the legacy of the Rochdale pioneers. My hon. Friend the Member for Leeds Central and Headingley (Alex Sobel) spoke about new forms of co-operative support. It would not be a first appearance at the Dispatch Box without the hon. Member for Strangford (Jim Shannon); I thank him for his very kind words, and I know how important the co-operative sector is in Northern Ireland.
My hon. Friend the Member for Leigh and Atherton (Jo Platt) gave great examples of the importance of local leadership, including at Leigh Spinners Mill. That organisation was lucky to have her and, after a brief absence, we are lucky to have her back in this place. My hon. Friend the Member for Peterborough (Andrew Pakes) talked about a purpose-driven economy and inclusive growth. He does himself down a little, though: he is not as much of an old lag as he sometimes pretends to be.
My hon. Friend the Member for Norwich North (Alice Macdonald) talked about the breadth of the co-operative sector and the opportunities for her community presented by devolution—on which my hon. Friend the Member for Oldham West, Chadderton and Royton did such sterling work as a Labour Minister. My hon. Friend the Member for Ipswich (Jack Abbott)—I hope Ipswich coming straight after Norwich is not a point of contention—spoke about the role of the community in shaping the future of his town. That is something we on the Government side of the House are incredibly keen on.
My hon. Friend the Member for Cannock Chase (Josh Newbury) talked about one of my favourite topics: social clubs and their important role in the community. They are part of our past but, increasingly, also part of our future. We should all seek to support them, both politically and with the pounds in our pockets. My hon. Friend the Member for Rugby (John Slinger) talked about how co-operative principles can be applied to modern challenges, while my hon. Friend the Member for Bournemouth East (Tom Hayes) made the second-earliest reference, to 1862—not quite as far back as the Rochdale pioneers, but pretty good. He also mentioned Hengistbury Head Outdoors and called on local people to invest, which sounds very sensible for people in that area. My hon. Friend the Member for Cities of London and Westminster (Rachel Blake) said we are “the doers”. Not only that, but she is a doer for her constituents in a world of talkers, and we all thank her for that.
I welcome the support of the Lib Dem spokesperson, the hon. Member for Richmond Park (Sarah Olney), for the co-op sector. While I expect some disagreement with the Government, I think we can agree that this was an agreeable debate on all sides. She made the important point that co-ops are more likely to be led by women than the average for the FTSE 100. That is another mark in favour of the co-operative sector.
As for the shadow Minister, the hon. Member for Wyre Forest (Mark Garnier), he said before I started that everything that needs to be said has been said—a bit of a challenge, but I can take it on my first outing. We all welcome a new co-operator, don’t we? He joined over the course of the debate. After the Economic Secretary to the Treasury has read Hansard tonight, before bed, which I am sure she will—as we all do every night—she will write back to him on the point about the British Business Bank. The Government look forward to the Law Commission review coming out. I certainly did not expect references to the potential mutualisation of Thames Water or Icelandic trade unionism—I hope that one day both may be discussed more broadly on the Opposition Benches—but the mutualisation of Thames Water is not Government policy.
The Government are committed to doubling the size of the mutuals sector, as has been discussed. According to the 2025 co-operative and mutual economy report, there are currently over 10,000 mutual and co-operative businesses in the UK, with an annual income of £179.2 billion. What doubling means will differ for different parts of the sector.