Investing in Britain’s Future

Debate between Hugh Bayley and Danny Alexander

Thursday 27th June 2013 Commons Chamber

[Danny Alexander]

First, every insurance company will have to sign up to the Flood Re deal in order to be valid, and as I said in my statement, we will bring forward amendments to the Water Bill to take backstop regulatory powers in case that does not happen.

[Hugh Bayley (York Central) (Lab)]

Some of my constituents cannot sell their homes because when they, or the new buyer, seek flood insurance, it is completely unaffordable; one person was told the excess would be 20% of the value of the home. When will this initial agreement become a substantive agreement, so as to allow these people to get on with their lives?

[Danny Alexander]

As part of the proposed arrangements, excesses would be capped to deal with the problem the hon. Gentleman mentions. We will bring forward the amendments to the Water Bill in the autumn.

Oral Answers to Questions

Debate between Hugh Bayley and Danny Alexander

Tuesday 21st December 2010 Commons Chamber

[Danny Alexander]

I agree. Our proposals, which the House has agreed, ensure that no one will make a payment up front when they go to university, or start repaying until they earn more than £21,000 after leaving university. I note that some hon. Members now advocate a graduate tax. They have said that they will produce their detailed plans by the end of the year, and we greatly look forward to seeing them.

[Hugh Bayley (York Central) (Lab)]

19. What steps his Department is taking to stimulate economic growth.

[The Chief Secretary to the Treasury (Danny Alexander)]

As the Chancellor said earlier, the Government have launched a growth review—a fundamental assessment of how each part of government can contribute to private sector success by addressing the barriers to growth that industry faces. That will report at the time of the Budget.

[Hugh Bayley]

When a private business wants to grow, it invests, yet the Government are slashing not just current expenditure but investment. What are they planning to do to increase private sector investment? In particular, what are they doing to get banks to lend to small and medium-sized businesses?

[Danny Alexander]

The hon. Gentleman may not be aware of the previous Government’s plans for capital investment, but the plans that we set out in the spending review put slightly more into capital investment than the previous Government planned. In particular, we are expending more on capital investment in transport infrastructure—the sort of investment that is most valuable to many businesses—in the next four years than was spent in the past four years. He should give the Government some serious credit for that.