Oral Answers to Questions

Jonathan Edwards Excerpts

Tuesday 6th March 2012 Commons Chamber

[Danny Alexander]

I have not seen that report, but I can tell my hon. Friend that it is not a question I have asked myself.

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

16. What steps he is taking to create greater equality in gross value added between the countries and regions of the UK.

[The Chief Secretary to the Treasury (Danny Alexander)]

Economic development policy is devolved, although the UK Government continue to work with the devolved Administrations in Scotland, Wales and Northern Ireland, as well as with the English regions, including on policies to maintain low long-term interest rates and provide 100% capital allowances in designated enterprise zones.

[Jonathan Edwards]

Latest European Union statistics indicate that GVA per head in inner London is £109,278 while the figure for the south Wales valleys is £10,654. Will the Chief Secretary include provisions in the forthcoming Budget to equalise wealth levels across the British state?

[Danny Alexander]

Budget announcements are a matter for the Chancellor, but I recognise very much the point that the hon. Gentleman raises. That is why we have asked the Silk commission to consider changes to the financial provisions within Wales—we look forward to its report—but he will also know that the autumn statement saw an additional £216 million of capital funding going as a consequence to the Welsh Assembly Government. I am sure that he, along with me, wants to press them to announce how they will use that money.