North of England: Investment
Debate between Lord Ravensdale and Lord Greenhalgh(3 years, 2 months ago)
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Lord Greenhalgh (Con)
My Lords, my noble friend is right that pension assets are an important source of finance for investment in infrastructure. I note that the CPS report proposes updating rules covering UK pension schemes so that we can encourage investment in northern infrastructure.
Lord Ravensdale (CB) [V]
My Lords, although the paper is entitled A Northern Big Bang, many of the problems described and the possible solutions identified are as relevant to the Midlands as they are to the north—a point the authors stress throughout the report. Does the Minister agree that measures to level up our country are just as, if not more, urgently needed in the Midlands as they are in the north, and will he comment on what plans the Government have to work with the Midlands Engine, the APPG of which I am co-chair, in that regard?
Lord Greenhalgh (Con)
My Lords, I point out that the commitment to levelling up also includes the Midlands. Earlier this month, my right honourable friend the Housing Secretary met the Midlands Engine Business Council and numerous business leaders to work on precisely how we should drive forward the agenda to ensure growth in the Midlands as well as in the north.
Devolution in England
Debate between Lord Ravensdale and Lord Greenhalgh(3 years, 7 months ago)
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Lord Greenhalgh (Con)
I have great sympathy for my noble friend’s point, as a co-author of A Magna Carta for Localism a decade ago. I can assure him that we are reviewing the mayoral combined authority model to identify how to maximise its effectiveness, including such powers as financial freedoms and funding devolution.
Lord Ravensdale (CB) [V]
My Lords, can the Minister confirm that the White Paper will set out firm commitments to back pan-regional bodies such as the Midlands Engine partnership, given their vital role in driving forward the levelling-up agenda in the Midlands and beyond?
Lord Greenhalgh (Con)
My Lords, I can make that commitment to support pan-regional partnerships such as the Midlands Engine, the western gateway and northern powerhouse, to promote economic opportunities and drive forward the levelling-up agenda.