Oral Answers to Questions

Debate between Julie Marson and Simon Clarke

Tuesday 17th May 2022 Commons Chamber

[Julie Marson (Hertford and Stortford) (Con)]

24. What steps his Department is taking to encourage levelling up across the UK.

[The Chief Secretary to the Treasury (Mr Simon Clarke)]

The levelling-up White Paper sets out a clear plan to level up every corner of the United Kingdom, including a mission to increase productivity and improve living standards in every part of the UK by 2030. We will do this through the record funding allocated in the 2021 spending review, including £1.6 billion for the next generation of the British Business Bank’s regional investment funds. That sits alongside significant investment in communities through the £4.8 billion levelling-up fund, and giving local areas a greater say in investment, working in partnership with the Government through the £2.6 billion UK shared prosperity fund.

--- Later in debate ---

[Mr Clarke]

I pay great tribute to the work that Andy Street has done as Mayor of the West Midlands to drive economic outperformance. I am a convinced believer in the merits of mayoral devolution, which is the best way of ensuring that levelling up is delivered at the fastest possible pace on the ground. I look forward to looking at proposals from the east midlands to ensure that we can unlock as much opportunity there as possible.

[Julie Marson]

Hertford and Stortford lies at the heart of the London-Stansted-Cambridge innovation corridor, which is key to helping my constituency and our region address its pockets of deprivation. Will my right hon. Friend outline how his Department is working to attract more innovation-based businesses, particularly in life sciences, to the area?

[Mr Clarke]

I share my hon. Friend’s passion for the UK’s world-leading life sciences sector. That is why we have invested £5 billion in health research and development, including for delivery of our life sciences vision, as well as £60 million for the life sciences innovative manufacturing fund and £200 million in the life sciences investment programme, all of which institutions in Hertfordshire can benefit from.