Boston and Skegness MP and Deputy Leader of Reform UK, Richard Tice, has set out plans for a major shake-up of Britain’s economic strategy, arguing that towns like Boston and Skegness need a government more focused on growth, industry and lower energy costs.
Speaking at a press conference held at USP Steel in Birmingham, Mr Tice called for the creation of a new “Great Office of State” for Business, Trade and Energy, which he said should be run by people with real experience of building businesses and generating wealth, rather than “just regulating them”.
He also outlined proposals for a £500 billion British Sovereign Wealth Fund, which he said would invest directly in Britain to support long-term economic growth, strengthen domestic industry and improve productivity.
Mr Tice said: “Britain needs a Great Office of State for Business, Trade and Energy, run by people who’ve actually built businesses and created wealth, not just regulated them. Backed by a £500 billion British Sovereign Wealth Fund investing in Britain, we can drive 2.5 to 3.5 per cent growth, cut energy bills, strengthen industry and raise wages. Our economy needs reform, and Britain needs Reform.”
He said the current economic model is failing to deliver for working people and businesses, particularly in manufacturing and industry, and warned that high energy costs and weak growth are holding back investment across the country, including in Lincolnshire.
“For communities like Boston and Skegness, this is about jobs, investment and opportunity,” he added. “We have huge potential here, but it needs a government that actually backs British industry and British businesses.”
Mr Tice, who was named as Reform UK’s Shadow Business, Trade and Energy Minister at a press conference in Central London last week, said manufacturing sites such as the Birmingham steelworks where he was speaking highlight the importance of having a clear, long-term industrial strategy backed by serious investment.
He argued that a more strategic, investment-led approach could help rebuild Britain’s industrial base, support regional economies and create better-paid jobs, particularly in areas outside the major cities.
The proposals form part of Reform UK’s wider economic platform, which focuses on boosting domestic investment, reducing costs for households and businesses, and reshaping how government supports growth across the UK, with the party saying this would bring tangible benefits to towns and coastal communities such as those in the Boston and Skegness constituency.
