Spending Review 2020 and OBR Forecast Debate

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Department: HM Treasury

Spending Review 2020 and OBR Forecast

Mark Pawsey Excerpts
Wednesday 25th November 2020

(3 years, 4 months ago)

Commons Chamber
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Rishi Sunak Portrait Rishi Sunak
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I can give the right hon. Gentleman that assurance. Those are UK-wide programmes and we hope to have more details about the infrastructure bank in the spring, so that we can get it up and running, at least in shadow form, as quickly as possible and make a difference to communities all around the United Kingdom.

Mark Pawsey Portrait Mark Pawsey (Rugby) (Con)
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May I first join my hon. Friends in expressing concern about the proposal to reduce overseas aid, but welcome today’s announcements in particular on infrastructure, apprenticeships and research and development, which will create wealth and jobs? I also welcome the substantial support that the Chancellor has provided to help businesses and people get through coronavirus. However, my constituents know that those measures will all have to be paid for, so can he assure them that when this economic emergency is over, he will return to a policy of balancing the books?

Rishi Sunak Portrait Rishi Sunak
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My hon. Friend is absolutely right. Although it is right to act in this way during the crisis, it would not be a sustainable way to operate. The important thing to know is that right now the focus should be on supporting businesses and jobs; but once our economic recovery is secure, we can turn our task to making sure that we have a strong set of public finances.