Autumn Statement

Ian Swales Excerpts

Wednesday 3rd December 2014 Commons Chamber

[Mr Osborne]

I do not want to go into too much of the detail that will be on the table in the important cross-party talks, but clearly one challenge that the Northern Ireland Executive face is that they have not implemented some of the welfare reforms, which has led to a hole in their budget. There are not currently credible proposals on the table from all the parties—I use the term “all” in the collective sense. There is not yet collective agreement on how to address the challenges that the lack of welfare reform has created. That is why I phrased my statement as I did. We have the cross-party talks and we have an important couple of weeks ahead, as Members from Northern Ireland know. Let us hope that we make real progress in those talks.

[Ian Swales (Redcar) (LD)]

I warmly welcome the new £28 million national formulation centre, which I believe is heading for Sedgefield in the north-east. That was one of the key asks of the chemistry growth partnership and is listed in the green book. Will the Chancellor continue to support the chemical industry, which is the UK’s biggest manufacturing exporter and is helping to make the north-east one of the fastest growing regions of the UK?

[Mr Osborne]

My hon. Friend is right that the new catapults that we have set out—the formulation centre and the investment in the high-value manufacturing catapult—will help the north of England, particularly around the area that he represents. Support for the chemical industry is important. The changes to energy taxation in the Budget will help the chemical industry. There might be an opportunity to look at specific things that we could do to help the chemical industry further, rather than all energy-intensive industries. I am happy to have that discussion with him and other Members who represent constituencies with chemical manufacturers.