What assessment he has made of the contribution of the co-operative sector to the economy.

The Government acknowledge the vital contribution that co-operatives make to the economy. The “Co-operative and Mutual Economy 2023” report found that co-operatives generated a combined annual turnover of £41 billion, a 3.7% increase from 2022 levels.

As the Minister outlines, co-operatives are worth £41 billion to the UK economy; moreover, they are, on average, 10% more productive than other businesses, twice as likely to survive the first five years of trading, and have higher rates of investment than other private businesses. What more can the Government do to encourage more co-operatives to thrive? Does he believe, as I do, that the creation of co-operative development agencies in every region has to be part of that?

I thank the hon. Gentleman for his point. I note his long-held interest in the co-operative sector, and the work that he does on it. So, what are the Government doing? They are doing two things specifically. First, they recently took the further step of backing the Co-operatives, Mutuals and Friendly Societies Act 2023; they also commissioned the Law Commission to review the Co-operative and Community Benefit Societies Act 2014 to make sure that co-operatives can do as much as possible to benefit the wider economy.

Over the past two years, Rotherham Council has spent £240,000 promoting co-operatives and employee ownership. Does the Minister agree that this huge amount of money would be better spent on fixing potholes and opening youth clubs, rather than on an ideological viewpoint, with no measurable outcome for the people of Rotherham?

I do not wish to comment specifically on Rotherham, but the best way of promoting co-operatives in general is to allow them to thrive as best they can, and to support their members in doing what they do best, which is to help their local economies—not necessarily through huge amounts of public subsidy, but through doing what the co-operative movement was founded to do, which is, as I have said, to support local economies and local people.