Budget Resolutions

Lord Coaker Excerpts

1st reading: House of Commons
Tuesday 28th November 2017 Commons Chamber

[Greg Clark]

I am grateful to my hon. Friend. That is a good illustration of how a strategy can bring forces together. That £5 million investment means that the infrastructure in and around Cambridge can be improved, and that will make the area even more attractive for companies and researchers to locate there, and it builds on the area’s strengths. The part of the world that she and the Economic Secretary to the Treasury, my hon. Friend the Member for North East Cambridgeshire (Stephen Barclay)—one of her close neighbours—represent has enjoyed great success, but I think they would both recognise the opportunity to extend that success to a larger area. That is exactly what we have in mind.

[Vernon Coaker (Gedling) (Lab)]

I agree with the Secretary of State about regional disparities and the way in which the industrial strategy tries to tackle them. The east midlands needs investment in capital to raise productivity, so I ask him to look into that. Will he also speak to the Transport Secretary and others about the Government’s failure to electrify the midland main line? As he knows, many of us have campaigned for that over a number of years, but the Government have now rowed back on it.

[Greg Clark]

I absolutely recognise that one of the big strengths of the east midlands is that it is connected to the rest of the country, and it is essential that those connections continue to improve. The hon. Gentleman will know that a fund was established in the Budget for cities and city regions to improve the connections in and around those cities. That is important, but it is in addition to the importance of connections to the rest of the country, so I will raise his point with the Transport Secretary.

Let me say something about ideas and the importance of innovation to our economy. We can be the world’s most innovative economy, given the strength of our science base and our researchers. Throughout our industries, we have some of the most creative people in the world.