Oral Answers to Questions

Debate between Chris McDonald and Rachel Reeves

Tuesday 21st January 2025 Commons Chamber

[Chris McDonald (Stockton North) (Lab)]

T9. Will my right hon. Friend join me in congratulating Intasite, a technology business in Stockton that is celebrating its 10th anniversary with 40% growth? Does she agree that our industrial strategy will help businesses to invest and grow in Teesside?

[Rachel Reeves]

I join my hon. Friend in congratulating Intasite on its 10th anniversary as a business, and on the rapid growth it is enjoying. The announcement we were able to make last year on the carbon capture and storage work in Teesside will be a big driver of jobs and growth there, and I look forward to working with him and local businesses in Stockton to make that a reality.

UK-China Economic and Financial Dialogue

Debate between Chris McDonald and Rachel Reeves

Tuesday 14th January 2025 Commons Chamber

[Rachel Reeves]

I am not sure whether the hon. Gentleman follows global financial markets, but borrowing costs have increased for countries around the world. What we saw under Liz Truss’s mini-Budget was unique to the United Kingdom, because it was only UK markets that were affected by the decisions of the Conservatives.

[Chris McDonald (Stockton North) (Lab)]

It is great to see our Chancellor of the Exchequer working with international business and winning investment for the UK. Does she agree that while the Conservatives were happy to sell out our heavy industry to China, leading to the end of steelmaking in Teesside after 150 years, our industrial strategy is delivering investment in steel, chemicals and life sciences in Stockton North, in Teesside and across the UK?

[Rachel Reeves]

The national wealth fund created by this Government will get investment into industries such as carbon capture and storage, green hydrogen, ports and, indeed, steel. We were really pleased at the end of last year to be able to announce investment in carbon capture and storage in Merseyside and Teesside, securing billions of pounds of investment into those economies and securing many thousands of jobs.

Oral Answers to Questions

Debate between Chris McDonald and Rachel Reeves

Tuesday 3rd September 2024 Commons Chamber

[Rachel Reeves]

Before I became a Member of Parliament I was an economist at the Bank of England and I respect the independence of the Bank of England. The previous Government undermined that independence. That contributed to the economic chaos that we saw under the last Conservative Government. This Government will never go down that route.

[Chris McDonald (Stockton North) (Lab)]

T7. Will the Chancellor of the Exchequer confirm that her decisions are targeted at winning new investment in green industry in places such as Billingham in my constituency?