Budget Resolutions and Economic Situation

James Davies Excerpts
Tuesday 9th March 2021

(3 years ago)

Commons Chamber
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James Davies Portrait Dr James Davies (Vale of Clwyd) (Con) [V]
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It is a pleasure to follow the hon. Member for Birmingham, Erdington (Jack Dromey). In what are extremely challenging circumstances, I commend this Budget for meeting so many of the immediate and longer-term needs of north Wales. The extension of furlough for the employed and self-employed, the continued VAT reduction for hospitality, holiday accommodation and attractions, and the freezing of alcohol duty are all welcome measures that provide security, particularly for the hospitality and tourism sectors during what we hope are the final stages of the pandemic.

Those sectors are extremely important in a constituency such as the Vale of Clwyd. In addition to the Chancellor’s Budget measures, there is a desperate need for the Welsh Government to publish a road map out of lockdown to align with the clear measures set out by the Prime Minister. The medium to long-term commitments that the Chancellor has made will provide the boost that is needed to address local pockets of deprivation and to ensure levelling up in more general regional economic performance.

The Budget included funding that will provide tangible benefits to my constituents. Denbighshire County Council is a direct beneficiary of the Budget, receiving £125,000 of capacity funding from the levelling up fund and an additional £20,000 for similar purposes from the community renewal fund. These programmes open up the possibility of many millions of pounds of support for the county within the next year or so to promote local regeneration. I look forward to working with the council to secure a turnaround in the fortunes of Rhyl high street, and with my right hon. Friend the Member for Clwyd West (Mr Jones) and my hon. Friend the Member for Clwyd South (Simon Baynes), to see investment in other town centres in the area. I also welcome the community ownership fund, which has the potential to be a major boost for all those who desperately want the Belle Vue ground to remain the home of football in Rhyl.

It was announced at the Budget that the north Wales growth deal will be reprofiled, with funding being brought forward from 15 years to 10 years. This will mean an extra £4.4 million per year from this April for nine years. It is hoped that this investment will create 3,800 new jobs and deliver a £2.2 billion boost to the local economy. This deal alone is set to help redevelop the former North Wales Hospital in Denbigh, support high-value manufacturing in St Asaph, and boost digital connectivity and green energy projects.

As we bounce back from the coronavirus, this transformation of our local communities and economy will be very welcome. I sincerely hope that, in the months ahead, these measures will be matched with further commitments to boost regional rail infrastructure, and I very much look forward to the findings of Sir Peter Hendy’s Union connectivity review. I am confident that this Budget puts north Wales and the whole of Britain in a strong position to recover and grow following a particularly challenging year for us all.