Oral Answers to Questions

Daniel Zeichner Excerpts

Tuesday 6th February 2024 Commons Chamber

[Bim Afolami]

I strongly echo the hon. Gentleman’s sentiments. I am very happy to engage with him and his colleagues from Northern Ireland to see what more I can do in the Treasury to work with him and, indeed, the Northern Ireland Executive, particularly to encourage our financial services institutions to invest more in Northern Ireland. I am very happy to discuss ways in which we can do that.

[Daniel Zeichner (Cambridge) (Lab)]

16. What recent fiscal steps he has taken to help tackle regional economic inequalities.

[The Exchequer Secretary to the Treasury (Gareth Davies)]

This Government are committed to supporting all parts of the United Kingdom. In October we announced the £1.1 billion long-term plan for towns, which gives 55 towns up to £20 million of endowment-style funding. We are delivering an ambitious programme of investment zones and devolution deals, we ae continuing to support local growth through the UK shared prosperity fund and we are investing billions to improve local transport connections in our regions outside London.

[Daniel Zeichner]

By their own measures, the Government are failing on almost half of their levelling-up missions in the east of England. Meanwhile, the Cambridge sub-region, which is a net contributor to the Exchequer, has vital transport projects on hold or awaiting finance. When will the Treasury stop stalling growth and give power back to the regions, which know best what needs to be done in their area?

[Gareth Davies]

This Government are committed to levelling up by boosting growth, raising living standards and spreading opportunity throughout the country in several different ways. The hon. Gentleman talks about giving more power to local areas, and he will know that the Cambridgeshire and Peterborough Combined Authority is getting a £97 million devolution deal. He will also know that Cambridge received some £14 million as part of the shared prosperity fund to spend on local projects. I reject his assertion; the people of Cambridge are benefiting from this Government.