Growing the UK Economy Debate

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Department: HM Treasury

Lord Macpherson of Earl's Court

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Fiscal Policy: Defence Spending

Growing the UK Economy

Lord Macpherson of Earl's Court Excerpts

Sudan and Eastern DRC
Monday 3rd February 2025

(1 day, 20 hours ago)

Lords Chamber
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Lord Macpherson of Earl's Court Portrait Lord Macpherson of Earl’s Court (CB)
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My Lords, the history of direct support for industrial investment is not a happy one, with much money wasted and few jobs created. Can the Financial Secretary confirm that the Treasury will continue to take a rigorous approach to assessing support for inward investment, based on the best value for money principles?

Lord Livermore Portrait Lord Livermore (Lab)
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Yes, I can, and I am happy to say that I cut my teeth in the Treasury when the noble Lord was Permanent Secretary to the Treasury, and I learnt a lot from him. I very much agree with his view of the Treasury’s role within Whitehall.

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