Business of the House

Lord Watts Excerpts

Thursday 17th March 2011 Commons Chamber

[Sir George Young]

I understand my hon. Friend’s interest. I do not know whether Westminster city council would allow the installation of a giant thermometer outside New Palace Yard on which was calibrated the growing number of commitments made by the Opposition, but in principle I agree entirely.

[Mr Dave Watts (St Helens North) (Lab)]

Given that the Government have already damaged the economy in the north-west by doing away with the regional development agency and cutting regeneration funding by two thirds, may we have a debate on their latest proposals to sell off the assets of the RDA and return them to the Treasury?

[Sir George Young]

I dispute the premise on which the hon. Gentleman bases his question. The OECD report published yesterday states:

“The government is pursuing a necessary and wide ranging programme of fiscal consolidation and structural reforms aimed at achieving stronger growth and a rebalancing of the economy over time.”

That is a somewhat different position from the one that he suggested. If there are surplus assets that can be returned to the Treasury, I am sure they would be gratefully received.