(4 years, 9 months ago)
Lords ChamberThe noble Lord makes a good point to the extent that we are focusing in. It takes us back to the Question raised by the noble Lord, Lord Greaves, on coalfields, regeneration and steelworks. The Government have provided funding to the Coalfields Regeneration Trust—the CRT—which seeks to support former mining communities in England; in the last seven years, we have provided £22 million. On the steelworks, he will know that much funding has gone into the Redcar steelworks, to the tune of £46 million.
My Lords, Governments cannot do everything, but if the Government are to re-engineer their criteria for investing in infrastructure to support the older industrial areas, might they encourage the private sector to do the same? The private sector has social obligations to places, as well as financial obligations to shareholders.
Absolutely—that will definitely be looked at. I make the point that, as the noble Lord will know, we are publishing a White Paper and setting out our strategy to unleash the potential of our regions. This will look at further devolution across England and levelling up powers, and will also include liaising and engaging with local businesses and getting their buy-in to what we plan to do.