Andrew Stephenson
Main Page: Andrew Stephenson (Conservative - Pendle)Department Debates - View all Andrew Stephenson's debates with the HM Treasury
(14 years, 4 months ago)
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Eric Ollerenshaw (Lancaster and Fleetwood) (Con)
1. What steps he plans to take to support economic growth in the north-west.
Andrew Stephenson (Pendle) (Con)
14. What steps he plans to take to support economic growth in the north-west.
The Chief Secretary to the Treasury (Danny Alexander)
I am delighted to have the opportunity to answer these questions on behalf of the Chancellor, who is at the ECOFIN meeting today.
In order to support private sector enterprise throughout the UK and ensure that all parts of the country, including the north-west, benefit from sustainable economic growth, the Government announced a number of measures in the Budget, such as using the national insurance system to encourage the creation of new businesses and establishing a £1 billion regional growth fund. Later in the summer we will publish a White Paper on a new approach to sub-national growth, including local enterprise partnerships, local incentives and more powers for major cities.
Andrew Stephenson
I thank my right hon. Friend for that answer. Picking up on what my hon. Friend the Member for Lancaster and Fleetwood (Eric Ollerenshaw) said about the Northwest Regional Development Agency, is my right hon. Friend aware that the North of England Inward Investment Agency, which is sponsored by the Northwest RDA and One NorthEast, currently maintains five offices in north America? In light of the record budget deficit, can he assure the House that he will look carefully into overseas offices and whether they deliver value for money?
Danny Alexander
The hon. Gentleman makes a very good point, and there is an awful lot of waste in the regional development agency system more generally. Of course, it will be for the local economic partnerships to look at such issues and work out whether they wish to come together to promote their region in a wider way, but his point serves to reinforce the argument for the structural change that we are making.