Daniel Zeichner
Main Page: Daniel Zeichner (Labour - Cambridge)
Mr Speaker
I call Mr Andrew Stephenson. He is not here. Oh dear, where is the chappie?
Daniel Zeichner (Cambridge) (Lab)
T1. If he will make a statement on his departmental responsibilities.
The Secretary of State for Communities and Local Government (Greg Clark)
Before the Easter recess, I should like briefly to update the House on the recovery following flooding caused by Storm Desmond and Storm Eva. The Government have moved rapidly to support more than 21,000 flooded properties; £50 million in dedicated funding has helped to ensure the rapid repair and reopening of key transport arteries—I am delighted that Pooley bridge in Cumbria reopened yesterday; a further £130 million will be spent repairing roads and bridges; £700 million was announced to boost future flood defence and resilience; and I am delighted that, in response to the fundraising from community foundations, for which the Chancellor offered to have match funding, I can now announce a one-for-one match for every pound raised by those community foundations during the floods.
Daniel Zeichner
The local government pension scheme provides future security in retirement for millions of public service workers. It is a funded scheme financed by the contributions of those workers. The Government now seem to be trying to interfere in the way those funds are invested, but investment decisions should be driven by the interests of the members of the scheme. What legal powers do the Government have to do this? Are they intending to direct the investment strategies of other UK pension funds? If not, why treat the local government pension scheme differently?
Greg Clark
As the hon. Gentleman knows, we have a consultation on this. I do not know whether he has contributed to it, but it has now closed. We are reflecting on the responses, and I will update the House when we have had a chance to do that.