Oral Answers to Questions

Bill Esterson Excerpts

Tuesday 13th July 2010 Commons Chamber

[Mr Hoban]

I welcome the interest shown in Teesside as a location for the green investment bank. Throughout the north-east, on Teesside, Wearside and Tyneside, we are seeing significant investment in green technology, which is a key way of rebalancing the economy and creating more private sector jobs in the north-east.

[Bill Esterson (Sefton Central) (Lab)]

rose—

[Mr Speaker]

Is the hon. Gentleman’s question specifically on the north-east? No? I know that he is from the north-west. Never mind. I wondered whether he wanted to say something about the north-east, but no.

--- Later in debate ---

[Mr Gauke]

My hon. Friend is absolutely right to highlight the fact that we live in a globalised world and that businesses can choose where they locate their activity. That is why we are introducing substantial cuts in corporation tax, from 28% to 24%. I was delighted to read this morning that the previous Chancellor was an enthusiast for reducing corporation tax—although we did not see so much evidence of that when he was in power. The fact is that the Budget proposals will benefit all sectors of society, including manufacturing, and we will see £13 billion more investment over the next few years as a consequence of those measures.

[Bill Esterson (Sefton Central) (Lab)]

Many businesses in the north-west saw the value of regional development agencies and were very much opposed to their abolition. What consultation was carried out with business leaders on the proposal to abolish RDAs?

[Danny Alexander]

Of course we have invited groups involving local authorities and local businesses to submit proposals for the establishment of local enterprise partnerships in the hon. Gentleman’s area and across the country to replace the regional development agencies. Local businesses will be very involved in those and will help to lead them. To judge from the earlier exchange involving other Members from the north-west, it seems there has been a positive welcome for those steps.