Oral Answers to Questions

Navendu Mishra Excerpts

Tuesday 8th April 2025 Commons Chamber

[Darren Jones]

No.

[Navendu Mishra (Stockport) (Lab)]

9. What steps she is taking through the national wealth fund to increase regional economic growth.

[The Chancellor of the Exchequer (Rachel Reeves)]

The national wealth fund has had constructive meetings with all our mayors, and we have given a mandate to the national wealth fund to work with mayors on tailored offers for their communities. I am meeting Mayor Andy Burnham later today to take forward that shared objective to ensure that growth is generated everywhere and felt in all parts of our country.

[Navendu Mishra]

As a fellow north-western MP, I am sure that you, Mr Speaker, share my pride that the banks of the River Mersey were the birthplace of the industrial revolution, and my constituency of Stockport continues to be a hub for innovation. We have many fantastic businesses in Stockport, including KNDS in the Heatons, which manufactures military bridging systems and the Boxer armoured vehicle for the British Army. Can the Minister outline how the national wealth fund will fuel economic growth in Stockport and the investment we need in our local infrastructure?

[Rachel Reeves]

I visited Stockport with my hon. Friend and the Mayor of Greater Manchester last year to see the regeneration work happening there, linking new investment in housing with transport infrastructure. I thank my hon. Friend for his leadership. Last month, alongside the increase in defence spending to 2.5% of GDP, we also set the national wealth fund’s strategic direction, with a focus on support for the defence sector through dual-use technology, creating more good jobs in all parts of the country, including Stockport.