Mansion House Accord Debate
Full Debate: Read Full DebateDepartment: Department for Work and Pensions
Katie White
Main Page: Katie White (Labour - Leeds North West)Department Debates - View all Katie White's debates with the Department for Work and Pensions
(2 days ago)
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Torsten Bell
Clearly, the hon. Member has not even read the accord. It talks about private assets. [Interruption.] No, the accord is about private assets while he mentions public assets. He also adopts the very market fundamentalist view that there is no role for Government at all, which is odd given what I hear him talk about in the Chamber day in, day out. Lastly, he also adopts extreme pessimism about the future of the country. I am much more positive about Britain than he is; that is not surprising, because his job is to pull it apart.
Katie White (Leeds North West) (Lab)
In its first six months, the National Wealth Fund, based in Leeds, has fuelled almost 10,000 jobs and unlocked £1.8 billion of private investment. Can the Minister confirm that this deal will equal more investment in British businesses?
Torsten Bell
My hon. Friend is a powerful advocate for Leeds and for Britain every single week in this Chamber, and everything she said is completely right. The job of the National Wealth Fund and the British Business Bank is to work with our nations and regions to ensure that projects can be de-risked and supported and that a wide range of private investors can come in behind that and make sure change actually happens, so that this becomes a country that invests in its future once again.