Oral Answers to Questions

Mark Reckless Excerpts

Wednesday 15th December 2010 Commons Chamber

[Mark Reckless (Rochester and Strood) (Con)]

6. What assessment his Department has made of assets held by the Republic of Ireland’s National Asset Management Agency in Northern Ireland; and if he will make a statement.

[The Minister of State, Northern Ireland Office (Mr Hugo Swire)]

We are not in a position to make a detailed assessment of these assets. The Northern Ireland Executive are in touch with the authorities in Dublin and NAMA’s Northern Ireland Advisory Committee, and my right hon. Friend the Secretary of State raised Northern Ireland interests in relation to NAMA with the Taoiseach on Monday.

[Mark Reckless]

Given the difficulty NAMA is having in managing these assets and the Republic’s already over-indebted situation, would it not make sense for us to take some of those assets off its hands, as consideration for financial support we may give?

[Mr Swire]

My hon. Friend will have an opportunity to make those and other points in the debate on the Loans to Ireland Bill—no doubt he will wish to take part in that. I think he should be proud of what we are doing, however. We are now part of the solution rather than the problem, and we believe it is right that we, as a country that has so much trade with the Republic of Ireland, should come to its support at this time, with no conditions.

--- Later in debate ---

[The Prime Minister]

Let me tell the hon. Lady what we are doing in Lewisham to protect the most vulnerable. The per pupil funding in our schools in Lewisham will be maintained at £6,951 per pupil—that is the 10th highest in the country, recognising the level of deprivation. On top of that, for the first time in our history we will be adding a pupil premium of £430 per child. That is an excellent policy.

[Mark Reckless (Rochester and Strood) (Con)]

Q2. The BBC reports that the German Finance Minister wants to set an interest rate to punish Ireland. Will the Prime Minister confirm that this country wants to help Ireland?

[The Prime Minister]

My right hon. Friend the Chancellor of the Exchequer will be setting out the details of the loan on Second Reading of the Bill today, but I think that it is worth standing back and asking ourselves, “Why is it that we are able to make a loan to Ireland? Why is it that people are asking us to do that?” It is because Britain’s economy is out of the danger zone and recovering. If we had listened to the Labour party, we would still be in a hole.