Oral Answers to Questions Debate

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Department: HM Treasury
Tuesday 8th April 2025

(6 days, 15 hours ago)

Commons Chamber
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James Murray Portrait James Murray
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I think that was a question about business rates reform. As the right hon. Lady will know, we published a discussion paper on transforming business rates. I am sure that the right hon. Lady will have read and responded to that, so I will look out for her consultation response in what we have received. Transforming businesses rates is about ensuring that we make the business rates system fit for the future to support investment and business growth right across the UK.

Allison Gardner Portrait Dr Allison Gardner (Stoke-on-Trent South) (Lab)
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T8. Will the Minister join me in congratulating Goodwin International, which is building a multimillion-pound production unit in Newstead in Stoke-on-Trent South, creating up to 100 jobs in defence manufacturing? Does he agree that increased investment in defence spending will have a tangible impact on my constituents, fuelling jobs and local investment?

Darren Jones Portrait Darren Jones
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Yes, and I congratulate my hon. Friend on championing jobs and businesses in her constituency. As she knows, the Prime Minister and the Chancellor have confirmed that defence spending will increase to 2.5% of GDP by 2027 and that a minimum of 10% of the Ministry of Defence equipment budget will now be spent on novel technologies such as drones and artificial intelligence, which will create highly skilled jobs and drive benefits to the wider economy, including in her constituency of Stoke-on-Trent South.