Spending Review and Autumn Statement

Lord Lansley Excerpts

Wednesday 25th November 2015 Lords Chamber

[Lord O'Neill of Gatley]

My Lords, I am slightly surprised at the tone of this question with respect to infrastructure, along with a couple of earlier questions. Let me repeat that within the £12 billion additional commitment to capital spending, much of it, in its broadest sense, is indeed on infrastructure. I also point out that since the summer Budget, an independent commission has been looking at the nation’s infrastructure needs. It will give advice and report back ahead of the next Budget.

I will add that, based on the involvement that I personally have with many other countries around the world, the guarantee scheme that the noble Lord refers to in terms of its low take-up is generally regarded as one of the most sophisticated and credible in the world. It will continue to be used, as we have highlighted in today’s Statement, and we will welcome many more proposals for infrastructure spending from the private sector, which may be interested in using that guarantee.

[Lord Lansley (Con)]

My Lords, the announcement that a national funding formula for schools will be introduced from 2017 will be immensely welcome after years of campaigning. Clearly, this formula will not be simply a flat rate. It will mean that pupils in similar circumstances should receive similar funding, coming directly from the Government as it does. Can my noble friend say at all when we might see the consultation on the structure of that funding formula?

[Lord O'Neill of Gatley]

My Lords, given my own previous specific involvement in education as a non-exec at the Department for Education and a long-time educational philanthropist, I also welcome this measure. I suspect that it will be particularly helpful for young children and adults in the most disadvantaged parts of urban Britain, particularly outside London. I do not have the information to provide the details here on how it will be worked out but I am sure that, in the fullness of time, it will be made available to everybody, especially Members of this House.