European Union: Regeneration Funding

Lord Davies of Oldham Excerpts

Thursday 21st July 2016 Lords Chamber

[Lord Ashton of Hyde]

I am not sure I recognise the figure, but of course the Government remain committed to the NHS.

[Lord Davies of Oldham (Lab)]

My Lords, I congratulate the noble Lord on taking on additional responsibilities for the Government—it will be a fast learning curve. Can we be clear that many of the most economically deprived areas of this country are faced with the potential withdrawal of very significant grants from the European Union and that such a withdrawal will be catastrophic for them, unless this Government set out to drop the previous preoccupation with the deficit and get on with investing to ensure that there is growth in these areas? Will the Minister indicate that he sees that as a major priority in his role?

[Lord Ashton of Hyde]

I thank the noble Lord and look forward to being asked lots of questions by him in future. I am pleased to say that I completely agree with him. This vote does not change the fact that infrastructure is a key government priority. That was demonstrated in the 2016 Budget, when we accelerated the commitment to invest more than £100 billion in infrastructure. In the last Parliament, the average annual investment was 17% higher than in the preceding one.