Public Spending: Inheritance Debate

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Department: HM Treasury
Monday 29th July 2024

(3 months, 3 weeks ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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Far be it from me to give advice to Tory leadership contestants, but if I were taking part in this contest, I would want to distance myself as much as possible from the Government in the previous Parliament who caused this terrible mess.

Graham Stuart Portrait Graham Stuart (Beverley and Holderness) (Con)
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The Chancellor committed to long-term planning for capital expenditure. Last March, the then Chancellor committed £20 billion to carbon capture, usage and storage, without which a net zero future cannot be delivered. In the light of the right hon. Lady’s review, can she set out for the House what commitment this Government will make to investment, including to that £20 billion for CCUS?

Rachel Reeves Portrait Rachel Reeves
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We have already created a national wealth fund, which will leverage in billions of pounds of private sector investment, including in carbon capture and storage, as well as green hydrogen and renewable-ready ports. We will set out all our spending in the spending review later this year.