Mark Durkan
Main Page: Mark Durkan (Social Democratic & Labour Party - Foyle)Department Debates - View all Mark Durkan's debates with the HM Treasury
(10 years, 9 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
I entirely agree with my hon. Friend. I congratulate him on the work that he has done to bring that investment into his constituency, and to create jobs and opportunities for the people whom he represents. It is important for us to send a message to the world that we are open for business and open to investment, and because we are doing that, we are now a go-to destination for world investment. Can my hon. Friend imagine the impact on jobs and investment in his constituency if we adopted the Labour party’s approach?
Mark Durkan (Foyle) (SDLP)
May we have an update on the Chancellor’s intention to introduce a new regime for annually managed expenditure? Will the overall welfare cap of which he has spoken include a cap within a cap for welfare spending in Northern Ireland?
Mr Osborne
We are not proposing a cap within a cap, as the hon. Gentleman puts it, but we are proposing a welfare cap. We have set out the details of the benefits and the annually managed expenditure that will be part of the cap, but we will announce further details about the level of it at fiscal events later this year.