Economic Situation

Lord Fox Excerpts

Thursday 13th October 2022 Lords Chamber

[Lord Fox (LD)]

My Lords, the Minister has many times referred to growth. I am sure that the Government recognise that for that growth to come, private sector companies must have the confidence to invest in their businesses and deliver that growth. For that investment to come, it requires a stable economic situation. Would the Minister describe the current economy and economic situation as stable?

[Viscount Younger of Leckie (Con)]

The detailed plans will be announced on 31 October so, picking up on what the noble Lord has said, there are five key areas where the detail is needed on what we are planning to do on growth. Obviously, just to pick up from the noble Lord’s experience, increasing private sector investment is critical, as are getting more people into work with the right skills, getting the housing market moving, improving infrastructure and accelerating delivery of major priority infrastructure projects. I could go on. This is what we are about. It is all to do with getting growth going and, as the Prime Minister has said, expanding the pie.