European Union: Regeneration Funding

Lord Tebbit Excerpts

Thursday 21st July 2016 Lords Chamber

[Lord Ashton of Hyde]

I thank the noble Lord and look forward to being asked lots of questions by him in future. I am pleased to say that I completely agree with him. This vote does not change the fact that infrastructure is a key government priority. That was demonstrated in the 2016 Budget, when we accelerated the commitment to invest more than £100 billion in infrastructure. In the last Parliament, the average annual investment was 17% higher than in the preceding one.

[Lord Tebbit (Con)]

My Lords, will my noble friend try to educate some Members of this House on the difference between spending and investing? One is very easy and one is a little more difficult. Secondly, will he confirm that no money has been coming into this country from the EU? It is British taxpayers’ money that has been routed through Brussels with a percentage creamed off to pay for the inefficiencies and corruptions in that place.