Fiscal Rules

Jon Trickett Excerpts

Monday 28th October 2024 Commons Chamber

[Darren Jones]

I obviously cannot speculate on the Budget, so I invite the hon. Gentleman to come back to the House on Wednesday for the answer to the first part of his question. On the second part, he might know that I lead for the Government on our relationship with the devolved Governments. I have met Finance Ministers from Scotland, Wales and Northern Ireland, most recently in Belfast, where we had a productive meeting. They were all very clear that the reset in the relationship between them and the Westminster Government was positive, given the failed relationships of the past. We made some progress in that meeting, and we will make further such progress in the Budget.

[Jon Trickett (Normanton and Hemsworth) (Lab)]

Is it not clear that the ruling economic orthodoxy has let this country down over many years? How else can we explain the fact that in 24 of the last 30 years, the UK spent less on investment than any other G7 country? In particular, in post-industrial areas like mine, the investment simply did not come. I encourage the Minister to break with the prevailing orthodoxy and ensure that we achieve the appropriate investment levels and direct that investment particularly to the north, the midlands and elsewhere.