Darren Jones
Main Page: Darren Jones (Labour - Bristol North West)Department Debates - View all Darren Jones's debates with the HM Treasury
(2 days, 12 hours ago)
Commons ChamberInvestment—[Interruption.] I am delighted to be welcomed by those on the Opposition Benches, and am pleased to see them in their place as well. Investment is a key part of the Government’s growth mission, alongside stability and reform. By ensuring adherence to robust fiscal rules and respect for our economic institutions, we are building the confidence needed to deliver greater investment across the country.
I thank the Minister for that response. A key part of the northern powerhouse agenda was investment in our rail infrastructure, and residents in my constituency were excited that Cheadle train station finally got planning approval recently. However, recent talk of cuts to infrastructure investment has caused concern. Can the Minister assure us that Cheadle train station is safe and will go ahead?
The Government are fully committed to ensuring that investment in all parts of the UK, including the north of England, creates growth and impact for working people. The north of England is home to crucial levers to achieve this, as evidenced by our recent announcements on Teesside and Merseyside, which will create thousands of jobs and secure long-term futures. The detail of individual projects will be confirmed in due course.
The creation of the national wealth fund, and the record success of the £63 billion of investment announced at the investment summit, comes on top of investments that Ministers have just announced in carbon capture in the north-west. Those are examples of the success—
The successful investments announced are a great example of this Government delivering jobs and economic growth, in the north of England and across the country. Does my right hon. Friend agree that this is in stark contrast to the abysmal record of the Conservative party in its 14 years in government?
My hon. Friend rightly points out that this country faces a choice: investment or decline. As we saw at the general election, it chose investment, and that is what the Government will deliver.
The Government have launched a multi-year spending review to set out our long-term plans for public spending and to ensure that every pound of taxpayers’ money is spent effectively. The first phase of the spending review is due to report this week, alongside the Budget, and phase 2 will begin shortly after the Budget.
I thank my right hon. Friend for his response. Recent National Audit Office reports have revealed the extent of the Tories’ economic mismanagement over the past 14 years. That has put capital projects such as Bingley pool in my constituency at risk. As a member of the Public Accounts Committee, I will ensure that taxpayers’ money delivers value. Will the Minister assure me and my constituents that tomorrow’s Budget will be based on an honest assessment of the public finances, so that this Government can deliver on their promises?
I thank my hon. Friend for her question. I can confirm that the Budget tomorrow will be an honest assessment of the mess left to this country by the Conservative party, but crucially our plans for clearing up the mess and then delivering the change we promised.
Given that, I assume, everyone in the Chamber has eaten at some point today, do we think that backing Britain’s farmers is a good use of public money, and given that there is a £2.4 billion budget for British farming, which the last Government underspent foolishly, recklessly and carelessly, will the Chief Secretary guarantee that at the very least the farming budget will be protected so that our farmers can carry on looking after our nature and feeding us?
Actually, I did not have breakfast today, so I am looking forward to lunch, and I therefore welcome that short question from the hon. Member. This Government are committed to farming and rural affairs, and to the production of the food that they provide for us, which is important for security of supply as well as, in due course, for my lunch.
My hon. Friend is right to point out the opportunities for improvement. As the Chancellor set out in her July statement, prevention will be at the heart of this Government’s new approach to public service reform. That will be set out in the spending review in the coming months.
The Government recognise the significant pressures that all councils are facing. We are looking at consolidating funding streams for local authorities into the local government finance settlement, and we will work towards implementing our commitment to a multi-year financial settlement.
A hundred councils in England have come together to call for five key changes to unlock much-needed investment in new council homes. They will welcome the news of £500 million of additional grant and changes to the right-to-buy rules, but one issue they also raise is housing revenue account debt and finance. Will Treasury Ministers look specifically at debt allocations and how HRA debt is accounted for, to unlock much-needed investment in council homes?
Councils’ housing revenue accounts are a significant part of local authority finances, and it is therefore not right to exclude them from our fiscal rules, but I reassure my hon. Friend that this Government’s commitment to deliver 1.5 million new homes will be delivered.
However “working people” is defined, does the Chancellor not accept that people on low incomes and part-time employees who earn up to £300 a week should be exempt from paying income tax?