Tom Tugendhat cares about every corner of the UK. That's why I'm backing him
4 min read
Tom Tugendhat has the strongest economic vision for the whole of the United Kingdom.
Just over three weeks ago l gave my wholehearted support to Tom Tugendhat to be the next leader of the Conservative Party.
I did this because l believe he is best placed to address the challenges the UK faces in her international security, to ensure that there is real and deliverable economic growth and because he understands, and more importantly champions, Scotland.
My faith in Tom was further boosted this weekend when he set out his economic vision for the whole of the United Kingdom. It is a case built on the understanding of what the role of government should be, a belief in the skills and potential of the people and a burning desire to unleash billions of investment for businesses to harness and to revolutionise our economy.
For too long, we’ve lost trust in individuals and businesses to make the decisions they need to succeed. Instead of learning from the past, we've buried them under red tape and regulation, aiming to eliminate risk rather than manage it. As Tom rightly says, this "hasn’t made us safer, just poorer". A clear example is Britain's pension funds — if we unlock their potential, they could unleash billions in investment, securing a better future for all, including millions across Scotland."
He has also called for the £350bn Local Government Pension Scheme to echo global investors and behave like a sovereign wealth fund, putting long term money into major national projects. This would be in line with pension funds in Australia, Canada and New York who can invest in their economies and harness growth. In stark comparison, UK pension funds are currently locked in low-risk, low-reward investments, leaving the country reliant on foreign investment.
As Tom says, "the Government can’t pull a lever, but it can release the brakes. It won’t be easy but we will have to tackle the obstacles to fast-track energy projects and infrastructure.
We have the chance to rebuild Britain, to reconnect our country and boost productivity, living standards, and economic independence. Taking calculated risks is worth the bet.”
In other words, we need to be driven by the prospect of success, not constrained by the fear of failure.
That is a message which resonates loud and clear here in Scotland. We have an abundance of potential not least in renewables, new technologies, space, financial services, agriculture and medical research. For example, Dundee University’s Life Sciences department — which I was privileged to visit a few weeks ago — is leading the world when it comes to researching molecular and cellular mechanisms underlying disease in humans, plants and animals.
To take advantage of this, Scots need our national and devolved governments to work together not carp at each other. We need to be in the business of building bridges between our governments and business, not burning them. That is what the public wants and has a right to expect. And I know it’s what Tom will deliver when he’s elected as the next Conservative Prime Minister in five years’ time.
He knows that for far too long we have been held back by an SNP administration which has failed to develop Scotland’s true potential because it's been distracted by unnecessary constitutional debates. Instead of asking how best it can serve our people and our businesses the SNP continues to be distracted by its goal of separation.
They are a brake on enterprise, when we need a boost.
Which brings me back to Tom Tugendhat. He is a man for whom every corner of our United Kingdom matters; a man who understands that Scotland greatest opportunities come from being part of the UK; a man who understands that a strong UK needs a strong Scotland; someone whose life has been defined by service to our country and that the right leadership really matters; and a man who will act in the service of all because government is there to serve the people, not the other way round.
Our Party faces a crucial choice and the country needs us to get it right. For the sake of our security and our economy. That’s why I am backing Tom.
Liz Smith is the Member of the Scottish Parliament for Mid Scotland and Fife and the Scottish Conservatives' Shadow Cabinet Secretary for Finance and the Economy.
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