Alex Cunningham
Main Page: Alex Cunningham (Labour - Stockton North)Department Debates - View all Alex Cunningham's debates with the HM Treasury
(1 year, 1 month ago)
Commons ChamberMy hon. Friend is rightly very focused on making sure that every single pound of taxpayers’ money is spent wisely, and I can assure him that the Government share that goal. In June, the previous Chief Secretary to the Treasury launched the public sector productivity programme, and we will provide an update at the autumn statement.
My hon. Friend is right that public sector productivity must be improved. That is exactly what the review is looking at and what we will address. I look forward to talking to him more about it in due course.
I welcome the fact that the taxpayer has spent hundreds of millions of pounds on remediation work at the Teesworks site in Redcar. I do not welcome the fact that the assets, including 90% of the operating company and tens of millions of pounds of scrap, have been handed over by the Tees Valley Mayor to two private companies, whose owners are laughing all the way to the bank. Is that really good value for taxpayers’ money?
I think these claims have been addressed by the Mayor, and I will not have anything further to say about them.
I welcome my hon. Friend’s expertise in this area, which is of great benefit to the House and to me as I consider fiscal measures. As we are so close to the autumn statement, I would say that the way that we treat costs in our investment and pension funds industries is not optimal, and we need to reform it.
My right hon. Friend the Member for Salisbury (John Glen) did an excellent job and we all salute his brilliant work. If he were here now, he would remind the hon. Gentleman that we have the lowest tax burden of any European country in the G7.