Reform UK's business, trade, and energy spokesman Richard Tice has delivered a major policy speech pledging to "reindustrialise Britain" by ending what he termed net zero "madness" and establishing a transformative sovereign wealth fund. Speaking at a steel stockholding business in Dudley, West Midlands, on Tuesday, the Boston and Skegness MP set out ambitious plans for a new Government "super department" that would also cover housing.
A New Super Department for Business and Energy
Mr Tice, who was appointed as the party's business, trade, and energy spokesman just last week, declared that the proposed department would focus on reducing energy costs, scrapping net zero commitments, and altering course on renters' rights legislation. He argued that Britain's economy is currently "broken" and "flatlining," necessitating a completely different approach to governance and economic strategy.
Economic Critique and Proposed Solutions
In his address, Mr Tice emphasised the need for regulatory changes, a revamped trade policy, and a shift in energy strategy. He stated, "We are now becoming unproductive and our economy is flatlining – and that's why we have to have a completely different approach. I think we all know that our economy is broken."
On trade, he advocated for a relentless pursuit of British national interests, specifically highlighting concerns about Chinese electric vehicles. "Are we really seriously willing to let that be decimated by the growth of Chinese electric vehicles coming in and taking our jobs? I would suggest absolutely not," he said. "I would suggest we need to be courageous and say we need to bring in tight quotas and significant tariffs, as we have seen other nations do."
Sovereign Wealth Fund as a Game-Changer
Mr Tice pledged a Great Repeal Act to repeal laws deemed against the UK's strategic national interest. Central to his vision is a "huge" new sovereign wealth fund under a potential Reform UK government, which would invest in energy and other critical sectors. He described this fund as an "absolute game-changer" that could even own British Steel, helping to reline its remaining blast furnaces for the next 60 years.
Energy Policy and Patriotic Duty
Emphasising the importance of cheap, plentiful energy for national wealth, Mr Tice called for maximising oil and gas production, akin to Britain's past practices. He argued that this would utilise "energy treasure from under our feet" to reduce bills and cut the cost of living. In a patriotic appeal, he said, "What about saying Lincolnshire gas for Lincolnshire jobs for Lincolnshire growth; Yorkshire gas for Yorkshire jobs for Yorkshire growth? It's our patriotic duty to use our energy treasure."
Political Context and Future Prospects
Appearing alongside party leader Nigel Farage, Mr Tice framed these proposals as the way forward for national prosperity. "This is the way forward. If we do this we can make our families more prosperous, we can make our communities more prosperous and our country more prosperous," he concluded. The speech marks a significant policy rollout for Reform UK, positioning the party as a challenger to traditional economic and environmental approaches in British politics.
