Investing in Britain’s Future

Debate between Margot James and Danny Alexander

Thursday 27th June 2013 Commons Chamber

[Danny Alexander]

It stands completely alongside that promise. First, I welcome the hon. Gentleman’s positive remarks about strike prices and he will see in the document we published today strike prices for all the other forms of renewable energy. Of course, in the case of nuclear, there is a detailed and ongoing commercial negotiation. I am sure that he would think it right for us to drive a hard bargain in those negotiations, because of course these prices will have to be paid by consumers for 50 years to come.

[Margot James (Stourbridge) (Con)]

I very much welcome the shift from entitlements and consumption to capital investment that will create jobs now and underpin our future prosperity. It represents a crucial part of the Chancellor’s rebalancing of the economy strategy. Will my right hon. Friend the Chief Secretary comment on the benefit of the plans to regions outside London and the south-east, such as my own area of the west midlands? Will we see more projects like the excellent new transport interchange opened in my constituency of Stourbridge last year?

[Danny Alexander]

I welcome that project, which is another example of projects being delivered by this Government during this Parliament. Of course, the plans I have set out today on roads, on energy and on rail will directly benefit every part of this country, including the west midlands. The hon. Lady is right that even at a time of austerity we are squeezing spending wherever we can to realise more resources for investment in the long-term infrastructure needs of this country. That is the right strategy and it is a shame the Opposition seem to oppose it.

Public Service Pensions

Debate between Margot James and Danny Alexander

Wednesday 2nd November 2011 Commons Chamber

[Danny Alexander]

I am grateful for the hon. Gentleman’s welcome of the tone we have taken. I hope that, in due course, he will welcome the substance as well. As to valuation information, it is being provided in the context of the scheme-by-scheme discussions. The trade unions have put forward many requests for information to be provided so that alternatives can be costed. All that work is going on in the context of the scheme-by-scheme discussions, but the valuation that was going to take place has been suspended on the basis that changes have been made, not least to the discount rate, which make that work invalid. It is best to wait until a new scheme is in place before we carry that work forward.

[Margot James (Stourbridge) (Con)]

I very much welcome the transitional arrangements outlined by my right hon. Friend for people 10 years away from retirement. It is particularly important for groups that would have joined the public services at a time when, unlike now, public sector pay was less than private sector pay. Will he outline roughly how many people will be affected?

[Danny Alexander]

I am grateful for those comments. The transitional protection is a very important part of this new offer. It is right that people who are within 10 years of retirement should have certainty about their planning for retirement. That principle has been observed on both sides in respect of the state pension age. I estimate that the transitional provision will protect more than 1 million public sector workers from any impact at all as a result of the changes.

Oral Answers to Questions

Debate between Margot James and Danny Alexander

Tuesday 22nd March 2011 Commons Chamber

[Danny Alexander]

I hope the hon. Lady will take the opportunity to explain to her constituents that it is the legacy of the previous Labour Government that has caused the enormous mess and all the problems in our economy. They left us with the largest Budget deficit in Europe, and one of the largest in the world. Countries in our position have to take the sort of action we have taken, or risk being in a much deeper mess. If that is what she is advocating, I suggest she tells her constituents.

[Margot James (Stourbridge) (Con)]

We are spending £120 million a day on debt interest—£1 billion by the end of next week. How many representations has my right hon. Friend received from reputable international and national organisations advising him to slow the pace of deficit reduction?

[Danny Alexander]

None. The hon. Lady will be aware of the report that the OECD published last week, which strongly endorsed our plans. Its general secretary, Angel Gurría, said that the fiscal position we inherited was “clearly unsustainable” and that the

“consolidation measures and plans that the”—

Government—

“have put in place were therefore vital.”

I agree with that.