Jonathan Reynolds

Jonathan Reynolds

Labour (Co-op) — Stalybridge and Hyde

Speaking in the House of Commons on 15 October 2026

Debate

Economic Growth

Contribution

I warmly welcome my hon. Friend’s question on reindustrialisation, which is an essential part of the Government’s programme. Backing reindustrialisation does not mean that we do not recognise the tremendous contribution of services, and it is not nostalgia—it is about looking at the brilliant innovation that we have in the UK and seeing it scaled up. Doing so requires policy intervention, and I am extremely pleased that the British industrial competitiveness scheme will shortly come online, bringing down our energy and electricity prices for 10,000 British manufacturers and ending the situation we inherited from the Tories where we had the highest energy prices of any industrialised major nation. We do have to look at targets, and I will look at the one my hon. Friend has proposed, but I also think there are other areas we have to include in that to get the holistic impact that we need.

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