Oral Answers to Questions
Debate between Gareth Davies and Amanda Milling(4 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Amanda Milling
I thank my hon. Friend for his question about Cornwall. I was delighted to have the chance to support the Cornish economy as part of a south-west visit over the summer, which included visiting him in his seat of St Austell and Newquay. As we said in our manifesto, we will introduce a UK shared prosperity fund that will match at a minimum the current levels of funding to each nation from EU structural funds. The arrangements for the fund will be confirmed following the upcoming spending review.
Gareth Davies
In order for us to truly level up, we will need to mobilise billions of pounds of private capital. Does my right hon. Friend agree that, as part of the national infrastructure strategy, we should launch a new financial institution such as a British development bank to make that happen?
Amanda Milling
The Government are committed to ensuring that businesses and infrastructure projects continue to have access to the finance they need. The UK has a range of existing tools to support investment, including the UK guarantees scheme. The Government will bring forward further measures to boost investment in UK infrastructure as part of the national infrastructure strategy.