Gregor Poynton

I speak today as a member of the Business and Trade Committee and as the MP for Livingston constituency, determined to see this Department play its vital part in delivering the Government’s No. 1 mission of economic growth and economic renewal, all underpinned by a pro-worker, pro-business approach. One of the crucial elements in delivering that mission is the delivery of a modern and ambitious industrial strategy. It is towards that industrial strategy that I will primarily address my remarks. It is my belief that the UK economy is in a moment of peril. Fourteen Tory years of underfunding, instability, and a lack of investment in our people and infrastructure have left us with anaemic growth. If we do not get the next few years right, that trend will continue, despite the best efforts of our business leaders and our workers. However, I also see opportunity. The Business and Trade Committee went around the country gathering evidence for our report and speaking to those with a stake in our economy—from sole traders to global corporates, from trade unions to academics. Time after time, we heard and saw the same thing: the huge optimism and potential for our country and the businesses that power it. What those people wanted from Government was stability, predictability and coherence. If we as a Government can provide that, they believe that they can unleash our country’s potential. There was universal positivity about the Government’s focus on an industrial strategy—a belief that it will drive investment, create high-quality jobs and ensure that businesses, including those in my constituency of Livingston, thrive in the economy of the future. Economic prosperity does not happen by accident; it takes businesses, business leaders and workers. It requires vision, leadership, and a Government willing to invest in the industries that will power our future. The Green Paper sets out how the strategy will support growth sectors, drive productivity, and ensure that Britain remains a world leader in financial services, fintech, manufacturing, green technology, life sciences and more. These are not just abstract commitments; they have tangible benefits for people and businesses in my constituency of Livingston, and across Scotland and the wider UK. Take, for example, the significant opportunities in Scotland’s renewable sector. With the right industrial strategy, we can fully harness the nation’s potential in onshore and offshore wind, hydrogen production, sustainable aviation fuel and battery technology, creating well-paid, secure, future-facing employment across Livingston constituency and elsewhere that benefits workers, families and communities alike. Contrast this approach by DBT and the wider Labour Government, rooted in a long-term strategy and tangible investment, with the record of the SNP Scottish Government over the past 18 years. It is frankly staggering that Scotland— a country with truly extraordinary economic potential, not least in the area of renewable energy—still lacks a dedicated industrial strategy. Not only that: under successive First Ministers, businesses of all sizes were shunned, and their growing concerns about Scottish Government economic policy were ignored.