Oral Answers to Questions Debate

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Department: HM Treasury

Oral Answers to Questions

Andrew Selous Excerpts
Tuesday 7th January 2020

(4 years, 11 months ago)

Commons Chamber
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Stephen Hammond Portrait Stephen Hammond (Wimbledon) (Con)
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7. What fiscal steps he is taking to increase productivity throughout the UK economy.

Andrew Selous Portrait Andrew Selous (South West Bedfordshire) (Con)
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12. What fiscal steps he is taking to increase productivity throughout the UK economy.

Gareth Davies Portrait Gareth Davies (Grantham and Stamford) (Con)
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18. What fiscal steps he is taking to increase productivity throughout the UK economy.

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Sajid Javid Portrait Sajid Javid
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The Government’s fiscal policy will allow for a step change in infrastructure investment, which is what we need to level up and unleash the potential of the whole country. That is why I am open to looking at ideas for new financing instruments, but I would need to be satisfied that they represent good value for money, that they can be sustained for the long term and that they are consistent with our wider fiscal objectives. I would be happy to discuss that with my hon. Friend.

Andrew Selous Portrait Andrew Selous
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Only 15% of people who start their working lives in entry-level jobs progress beyond such jobs by the end of their working lives. To deal with that situation, will the Chancellor look again at the national retraining scheme to see what we can do to help people to progress further in work, to reduce poverty as well as increase productivity?

Sajid Javid Portrait Sajid Javid
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As usual, my hon. Friend raises an important issue. Some excellent work has been done on the issue, including work to which my hon. Friend has contributed. In our manifesto, we set out our intention to have a new national skills fund, which will help to transform the lives of people who are trying to get on to the work ladder, to get new qualifications or to return to work. I know that my hon. Friend will welcome that.