Oral Answers to Questions Debate

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Department: HM Treasury
Tuesday 8th April 2025

(6 days, 15 hours ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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I visited Stockport with my hon. Friend and the Mayor of Greater Manchester last year to see the regeneration work happening there, linking new investment in housing with transport infrastructure. I thank my hon. Friend for his leadership. Last month, alongside the increase in defence spending to 2.5% of GDP, we also set the national wealth fund’s strategic direction, with a focus on support for the defence sector through dual-use technology, creating more good jobs in all parts of the country, including Stockport.

John Hayes Portrait Sir John Hayes (South Holland and The Deepings) (Con)
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Economic policy should benefit all regions of Britain, including rural counties such as Lincolnshire, where we grow a disproportionate amount of the food that feeds the nation. Does the Chancellor recognise that, in an age when the two biggest economies in the world are protecting their industries—including agriculture—the time has come to reinvest in manufacturing and to consume more of what we produce here in Britain? To echo the call of the Liberal Democrats’ spokesperson, we should buy British. That means using Government procurement to back British jobs, British projects and British workers.

Rachel Reeves Portrait Rachel Reeves
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My right hon. Friend the Chancellor of the Duchy of Lancaster has set out new reforms for procurement rules to enable just that. We want more British businesses to win contracts. We want more small businesses in Britain to win contracts—businesses in all parts of the economy, including in food and farming. In farming, we gave a record settlement of £5 billion in the Budget last year to support this important part of our national economy.