Julian Sturdy
Main Page: Julian Sturdy (Conservative - York Outer)Department Debates - View all Julian Sturdy's debates with the HM Treasury
(8 years, 3 months ago)
Commons ChamberThe Chancellor has already made a number of comments about how we will deal with and address this situation, and more will clearly be said in the autumn. It is important that we recognise that, while we undoubtedly face some risks and have to look to manage them, we must also seize the opportunities we can take from the situation we are in.
To return to the point about business rates, taking 600,000 of the very smallest businesses out of business rates altogether is a good thing. It has not taken effect yet. It is important to make it clear that although that has been announced, it has yet to take effect. We all have a job to do in the spring to make sure that our local businesses get the maximum benefit.
10. What progress he has made on the establishment of the northern powerhouse.
A northern powerhouse will be built by connecting up the cities in the north so that the whole is greater than the parts. We have committed billions to new transport investment and devolved powers to the cities, and we are promoting science and culture. According to one recent survey, the result is that the number of foreign direct investment projects in the north is up by 127% since 2014. The employment rate is now close to its record high, and unemployment has fallen faster than in the south.
May I add my congratulations to the new Front-Bench team? In medieval times, the north was ruled from the great city of York. Even in Yorkshire, things do move on, but the need for well-connected transport links is still fundamental for every thriving city. Will my right hon. Friend ensure that sufficient funding is in place to deliver the key infrastructure needs, such as the upgrading of the York northern ring road, which will allow the city to fulfil its true potential in the new enterprise zone?
This Government are determined to ensure that we have strong transport infrastructure in the north of England, but I very much hear the points my hon. Friend has made. We have committed to investing an extra £161 million to accelerate the transformation of the M62, and £75 million to improve other road links, including the A66 and the A69. We very much recognise the case he is making and, as I say, as a Government we are determined to ensure that the north of England can fulfil its potential.