Oral Answers to Questions
Debate between Lucy Rigby and Meg Hillier(3 days, 2 hours ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Dame Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)
As well as the British Business Bank, the National Wealth Fund plays a crucial part in investing taxpayers’ money. I welcome the Government’s response to the Select Committee’s report on that issue. Will the Minister indicate when the National Wealth Fund will have the ability to borrow from private markets in order to increase its independence, secure funding for infrastructure, and get the taxpayer off the hook?
Lucy Rigby
It is absolutely right that we have increased the amount of funding going into the National Wealth Fund. On my hon. Friend’s specific question, my understanding is that we have not set a date, but I am more than happy to write to her with further information—to the extent that it exists.
Oral Answers to Questions
Debate between Lucy Rigby and Meg Hillier(1 month, 3 weeks ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
The Economic Secretary to the Treasury (Lucy Rigby)
The Government of course recognise that innovation is key to our long-term economic growth and to higher productivity, and indeed to living standards. That is exactly why we are investing more in R&D, and we have made other incentives available too.
Dame Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)
It has been a rocky week for the Office for Budget Responsibility, so I am glad that the Chief Secretary to the Treasury recognises and has reiterated the value of an independent regulator in this space. Nevertheless, a lot of criticism of the OBR is swirling around. Would the Chief Secretary or the Chancellor like to remind people about the role of the fiscal risks and sustainability report, which does look longer term at the economy, and the importance that this has in planning? As the Chancellor said, it is not destiny just because of the figures, but that report is particularly useful in that respect.