Jim Shannon
Main Page: Jim Shannon (Democratic Unionist Party - Strangford)Department Debates - View all Jim Shannon's debates with the HM Treasury
Public Finances: Borrowing Costs
Jim Shannon Excerpts(1 day, 17 hours ago)
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Darren Jones
I am pleased that the hon. Member can afford the subscription to Bloomberg News; I cannot, unfortunately, so I could not read the article to which he refers. He inadvertently asks me a question about the process of the spending review. [Interruption.] That was the question. We are embedding mission-led government, which is what the Prime Minister set out in his missions in his plan for change. That requires Departments to work together to make sure that they are absolutely focused on the delivery of the plan for change priorities, which is why the spending review is being done on a multilateral basis in a new way. I will be giving a speech on this issue in a couple of weeks’ time, and I will make sure that the hon. Gentleman gets an invitation.
Jim Shannon (Strangford) (DUP)
I thank the Minister for all his answers this morning. The UK’s public debt has risen sharply over the decades. At the moment, it is reaching levels not seen in the post-world war two era, meaning that a large proportion of our expenditure is focused on paying back, as opposed to public spending. I always try to be constructive, as the Minister knows. Nowhere will the impact—on health and education, for example—be greater than in Northern Ireland. I have a very specific question for the Minister: what discussions has he had with Departments, and particularly the Finance Department, at the Northern Ireland Assembly?
Darren Jones
I lead for the Treasury on inter-ministerial relationships with Finance Ministers in the devolved Governments. I regularly meet my counterparts, and I will meet them in Wales in the coming weeks to talk about our spending plans for the future.