Our country has too many people who are not putting in their fair share.
From those that sit at home all day while hard working people pay for their lifestyle; to those that arrive illegally and then get privileged access to social housing, the NHS and our welfare system.
Something has to change.
Watch Kemi's Speech at the British Chambers of Commerce to see where we stand 👇
You can also read the full speech here 👇
I’m delighted to be speaking to the British Chambers of Commerce again. When I spoke here last year during the election, I talked about the choice between two competing visions for economic growth.
One of them was that the government knows best. The other—that business knows best how to create growth.
My vision, the Conservative vision, is that it is not government that creates growth—it is business.
But you all know we lost that election.
There were many reasons for that loss. And one of those reasons was that we were no longer trusted.
It’s quite clear we got enough things wrong during our time in government that people wanted change.
And we got that change.
I was very surprised—actually, I wasn’t that surprised—when I heard the Prime Minister speak to you this morning. He spent a lot of time criticising the previous government. That is what politicians do.
So, now that I’m here, I’d like us instead to take a long, hard look at the country after 12 months of Labour in office.
Since July we’ve had inflation higher, unemployment up, growth halved. I mean—this is change. But it’s change for the worse.
And it didn’t have to happen.
Let’s start with the jobs tax. That rise in National Insurance is killing jobs. It’s making it impossible for businesses to grow.
Then we see family businesses—backbones of many communities—hit with increased taxes.
More of the next generation will have no alternative but to close, rather than continue running the family firms. Family Business UK warns this could lead to over 125,000 job losses.
That is a lot.
And instead, we have 27 new quangos, creating even more bureaucracy and paperwork for businesses.
But this isn’t just about statistics or government changes. This matters because it’s about real people.
It’s people and businesses who are hurting when government makes the wrong decisions.
It’s the company that never takes on more staff because it’s just too difficult.
The person who doesn’t get the opportunity to buy their own home because they don’t earn enough.
The apprentice who never gets the right start in life because the government didn’t get its act together.
And we can’t let that happen.
So today, I want to talk about our economic crisis—but also how to fix it.
With jobs, jobs, jobs—for all the people and businesses affected.
And I want to talk about how we answer a fundamental question about what our country is for.
A question this government should be answering, but has failed to.
A question none of us can duck forever.
That question is: are we for the makers or for the takers?
Are we for those who work hard, who get on, who build businesses, who make things happen—whether that’s a plumber or a nurse—or for those who don’t?
I know whose side I’m on.
But let me talk first about the biggest political issue of this week: welfare.
Our debt interest is well over £100 billion a year. Welfare spending is out of control. The state is bloated. Productivity has flatlined. And the economy is stuck in first gear.
Our country is living beyond its means. We are spending more than we're earning. And it means the cost-of-living crisis for working people is getting worse and worse.
We need a totally different approach.
One that ensures things are easier for the makers—the people who work hard, create wealth and jobs, and deliver frontline public services.
Because currently, this country has too many people who are taking from those who sit at home with the curtains drawn while others go to work, to those who skip the queue and arrive here illegally, only to be given privileged access to social housing, the NHS, and our generous welfare system.
Yet, despite a supermajority in Parliament, the Prime Minister is in the fight of his life—trying to save some of the government's welfare changes.
Changes that don’t even cut the overall welfare budget. They only slightly slow the rate of increase.
And that’s because his MPs are too scared to make difficult decisions.
But we have to make difficult decisions if we are to sort the economy.
Britain needs real welfare reform—if we’re to incentivise takers to become makers, and get people into jobs.
By 2030, one in every four pounds raised through income tax will be spent on health and disability benefits alone. That’s not even including other benefits.
That’s more than the entire UK defence budget.
In an increasingly dangerous world, that is simply unsustainable.
We need a fundamental rethink about which conditions should qualify for long-term financial support.
I was shocked to hear that the majority of new disability claims in this country are now for low-level conditions like anxiety.
Research published today by the Centre for Social Justice shows that by focusing support on those with the most severe conditions, we could save £9 billion a year by 2029–30.
That’s where we should be focusing our efforts.
That’s a serious amount of money. And we can transform so many lives at the same time.
By focusing on treatment for less severe conditions, we can also get more people back into work. That’s crucial.
And I know it won’t be easy. In fact, things are likely to get worse before they get better.
Because with such a large Parliamentary rebellion, I’m expecting U-turns on other issues—like the two-child benefit cap.
That means more spending. More borrowing.
Protest parties like Reform are doing well in the polls by promising even more benefits.
The fact is—no one, except my party, the Conservatives, is talking about reducing welfare and creating jobs.
Under my leadership—this is new leadership—the Conservative Party will not shy away from confronting tough questions and, more importantly, providing solutions.
That is the role of a constructive Opposition.
And when business leaders like the CEO of Currys say government policy is "actively working against job creation", we should take note.
Business leaders tell me Labour’s Employment Rights Bill will make things worse.
That the Bill could cost the UK up to £5 billion a year in lost economic growth.
That it’s 300 pages of red tape nobody running a business asked for.
And we know who will pay the price.
It will be young people looking for their first break.
It will be those left behind because hiring them becomes too risky or too expensive.
It will be smaller businesses—those that can’t afford legions of HR and compliance officers.
They’re the ones who will pay the price.
But I’m not just here to talk about problems. Anyone can do that. You want solutions.
So what will we do?
We will remove Labour’s red tape.
We will remove the ability to strike with zero warning—something businesses cannot prepare for.
We will remove the trade union ‘right to roam’ in business premises.
We will scrap the new ‘Fair Work Agency’—yet another quango, designed to hound businesses even when no complaint has been made.
How did we get to the point where a government thought it could impose these measures on business?
We’ve forgotten a fundamental truth: every pound spent by the government—every benefit paid—comes from the makers.
Makers who work every hour they can to make ends meet, provide for their families, and keep businesses and public services afloat.
Makers are the foundation of our prosperity.
And we are allowing too many to become takers, not makers.
This has led to a dangerous shift in thinking.
Too many now see business as something to extract from—not invest in.
They want to tax wealth before it’s even created.
They’ve forgotten that every job, every innovation, every export success—comes from people in rooms like this. People taking risks.
This is a crisis. And the question is simple: who has credible solutions?
I know many of you are sceptical of political promises.
But look at who we are—not just what we say.
My Shadow Chancellor, Mel Stride, built and sold a successful international business.
My Shadow Business Secretary, Andrew Griffith, chaired a FTSE 100 company.
Across our party you’ll find entrepreneurs who’ve taken risks, navigated regulations, and created jobs.
For too long, politicians haven’t wanted to make tough choices. Everyone wants their problem solved this week—but who is securing the ten-year horizon?
We are at a critical moment.
People are feeling real pain: cost of living, high bills, low pay, high taxes.
They need a way out.
But the crisis isn’t just in the numbers. It’s in the mindset.
Just look at the recent spending review.
Gone is the political imagination to even consider a future where people keep more of their own money, and expect value in return.
Too many in politics think growth comes from government, from regulators, from central planners.
I don’t. I never have.
There is a gap in the market for a serious, centre-right plan—one that understands the power of the private sector to transform lives.
One that raises aspiration and delivers higher living standards.
That is the difference between us and our opponents.
Labour sees business as something to regulate and tax.
Reform wants to turn back the clock and nationalise utilities.
We see you—business—as partners in building Britain’s future.
You know when spending isn’t delivering value. Government must learn to do the same.
This is about running government like you run your businesses: focused on outcomes, not process.
And I’ve seen your regulatory burden firsthand.
I was Business Secretary. I heard the complaints: the endless forms, the duplicated reporting, the compliance costs that add nothing to productivity.
And I cut it back.
Under my leadership of the Conservative Party, I promise we will do even more.
You tell me you can’t find staff—while we’re paying people not to work.
That ends under my leadership.
Yes—we will cut taxes. But we’ll do it responsibly.
To those who care about jobs, growth, and public spending: don’t sit back and hope it’ll fix itself.
Speak up.
Support policies that back enterprise.
Challenge those who want more and more state control.
Don’t wait for politicians to do it. You need to get on the pitch too.
And this isn’t just about tax rates and red tape. It’s about the country we want to be.
Not a Britain of committees and consultations—but one where people have the freedom to build, to create, to grow.
So bring us your ideas. We’re in Opposition—this is the time.
All of you who came to my office when I was in government knew how hard it was to change things then. The train was already moving.
Now, we’re at the station. Get on board.
We want your priorities. We want your solutions.
That’s why I’m personally inviting you to this year’s Business and SME Day at Conservative Party Conference.
It’s going to be fun—but more importantly, it’s your opportunity to help build an exciting new policy programme that unleashes business to transform the UK.
You don’t need to be a Conservative to participate in Business Day. You just need to want what’s best for our country.
And you can trust me—because I’ve stood up for business in government, not just in opposition.
So back us.
Tell your customers.
Speak out.
Put your name to the cause.
We can’t turn this country around with polite applause or careful silence.
We need your voice.
We need your expertise.
We need your determination.
Because all of us in this room know: we can’t work half the year for the taxman, while half the country doesn’t work at all.
If we’re going to turn takers into makers—the private sector will be absolutely crucial.
Because no government bureaucracy ever created long-term wealth.
No politician alone can build lasting prosperity.
That comes from business.
From innovation.
From risk-takers and job creators.
It comes from you.
