Oral Answers to Questions

Debate between Iain Stewart and Danny Alexander

Tuesday 2nd September 2014 Commons Chamber

[Iain Stewart (Milton Keynes South) (Con)]

T5. Will my right hon. Friend comment on the astonishing claim by the Scottish Government that they would default on their share of the UK’s debt if they did not achieve a currency union with the rest of the United Kingdom if—heaven forbid—independence was to happen?

[Danny Alexander]

The Scottish Government’s plan to renege on Scotland’s share of the debt in the event of independence is simply not credible because of the catastrophic effect it would have on the people of Scotland. Mortgage rates would go up, credit cards and bills would go up, and the Scottish Government would have to resort to the bond market’s equivalent of Wonga to raise money to pay for public services in Scotland. To default on the debt would be to punish every Scot for Alex Salmond’s failure to think through his currency plan B properly.

National Infrastructure Plan

Debate between Iain Stewart and Danny Alexander

Wednesday 4th December 2013 Commons Chamber

[Danny Alexander]

I agree with the hon. Gentleman about the importance of electrifying the south Wales valleys line. That is why the Government added it to the Network Rail plan; it was not there before. I will certainly look at the case for accelerating it, if possible. The structure of this country’s rail industry is such that Network Rail is given a regulatory set of obligations and has to work out for itself the most efficient way to deliver them, but I would be very happy to ask that question of Network Rail and to share any answers with the hon. Gentleman.

[Iain Stewart (Milton Keynes South) (Con)]

Contrary to the rather dreary words from the shadow Chief Secretary, the hon. Member for Nottingham East (Chris Leslie), about the progress of infrastructure projects, is my right hon. Friend aware that very good progress is being made on reopening the east-west rail line through my constituency, with Network Rail engineers out doing the important surveying work ready to get the trains running again?

[Danny Alexander]

I think that “dreary” is rather a positive description of what the shadow Chief Secretary had to say, but I welcome the fact that he was given the opportunity to show from the Dispatch Box what a good plan the Government have, including the east-west line, and what a hopeless contribution the Opposition are making to this debate.

Oral Answers to Questions

Debate between Iain Stewart and Danny Alexander

Tuesday 24th April 2012 Commons Chamber

[Iain Stewart (Milton Keynes South) (Con)]

7. What progress the Government have made on the implementation of the national infrastructure plan.

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

We published an update on the national infrastructure plan alongside the Budget, showing the progress that has been made on all the priority investments. As an example, the Budget was able to confirm that the pensions infrastructure platform that we have established to enable British pension funds to invest in infrastructure in this country will be able to make its first wave of £2 billion investment by early 2013.

[Iain Stewart]

I very much welcome the plan and congratulate the Government on prioritising rail investment, such as the east-west line through my constituency. May I urge my right hon. Friend to continue that investment in the classic network, as well as finding the funds for High Speed 2?

[Danny Alexander]

My hon. Friend makes an important point. The investment in High Speed 2 will not affect the amount of investment in the traditional rail network. It will allow us to go forward—for example, with the investment in the Oxford to Bedford rail line, which I know will affect his constituency, create 12,000 jobs and give a boost of £38 million to that area’s economy.