Growing the UK Economy

Mark Sewards Excerpts

Wednesday 29th January 2025 Commons Chamber

[Darren Jones]

The Environment Secretary, working with the regulator Ofwat, has agreed the largest investment in the water industry on record, with more than £100 billion over the years ahead to tackle issues with sewage and leaks in the Victorian infrastructure, and, crucially, for the first time in decades, to actually build a reservoir, which this country needs. That is why it is important that we have announced those two plans today. They will, of course, go through the normal processes, and I am sure he will be paying attention to that as they come forward.

[Mark Sewards (Leeds South West and Morley) (Lab)]

I enthusiastically welcome the Government’s commitment to growth and commend them for taking the difficult decisions required to generate it. It is important that all parts of our country benefit from the proceeds of growth. In my capacity as a Leeds MP and chair of the all-party parliamentary group for Yorkshire and northern Lincolnshire, I ask the Chief Secretary how the national wealth fund and the strategic partnership in West Yorkshire will benefit my region through growth agreements and, crucially, sharing the proceeds of growth.

[Darren Jones]

These partnerships with the national wealth fund are crucial to ensure that local entrepreneurs, businesses and investors have access to the services provided by the Government. Too often, it is only people who know how the system works or who know the people involved who can get deals done, which means that people, especially in the regions, have historically lower levels of investment than companies, in particular in London. That is why we want to ensure the door is open to entrepreneurs and investors in areas of high growth potential, including in Leeds, so they can get their businesses growing and delivering for the UK economy.