Business of the House

Andrew Stephenson Excerpts

Thursday 5th September 2013 Commons Chamber

[Andrew Stephenson (Pendle) (Con)]

Is my right hon. Friend aware of the findings of the Lloyds TSB regional purchase managers index, which showed the fastest growth across the country in 12 years, with the fastest growth not in London or the south-east but in north-west England? In my constituency, unemployment is down and production is up, and the manufacturing companies that I speak to are very encouraged by the way in which the economy is recovering. May we have a debate on rebalancing the economy to support businesses in the north-west of England?

[Mr Lansley]

Yes, the situation is very encouraging. We all know that the nature of the economic crisis we inherited, with the economy having declined to a gross domestic product of 7.2%, meant that the recovery was inevitably going to be long and difficult; we cannot expect it to be easy. However, it is happening, and on a more sustainable basis. My hon. Friend rightly points out that it is more sustainable if growth is better dispersed around the country rather than merely being based on financial services in the City of London, important as that sector is. It is especially sustainable given the development of exports and manufacturing in many regions of the United Kingdom.