Liam Byrne

Liam Byrne

Labour — Birmingham Hodge Hill and Solihull North

Speaking in the House of Commons on 5 February 2026

Debate

Economic Security

Contribution

When we published the report, we sought to compare the regime that we have in this country with the regimes that are in place among our allies in Japan, Europe and the United States. It became clear that, unlike our allies, we have a loose collection of strategies—some might unfairly label them strategy by stapler—that are basically collated together but which lack any statutory basis to ensure consistency and persistence over time. Again, we must remember what we are trying to do. We are trying to ensure that public and private sector are able to work together on big risks over a long period of time. If we leave policy unpredictable, inconsistent and subject to the changes of wind each day, we cannot provide that signal. Ensuring that there is a proper statutory basis for economic security in the way that the hon. Member suggests and our allies have actioned would be a significant step forward in the Bill that he refers to.

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