Oral Answers to Questions

Paul Howell Excerpts

Wednesday 19th January 2022 Commons Chamber

[The Prime Minister]

I entirely understand people’s feelings and I entirely support what the hon. Lady says about someone obeying the rules when they make the rules. She is completely right. On the other hand, I urge her to wait, as I have said to Opposition Members, until next week.

[Paul Howell (Sedgefield) (Con)]

Q10.   The Opposition have been told that there is going to be an inquiry, but they have wasted every single question on one issue while my constituents want us to get on with other things. In January 2021, the Government estimated that at least £800 million would be released from the dormant asset scheme extension. Does the Prime Minister agree that funding through a new community wealth fund would be a catalyst to level up the most left-behind communities and that the Dormant Assets Bill should include specific provision for a consultation on the scope, shape and nature of such a fund?

[The Prime Minister]

We will certainly be legislating to expand the dormant assets scheme to include new financial assets, which would unlock an estimated £880 million. We will be considering how to spend the English portion of that. The community wealth fund that my hon. Friend proposes is certainly an option and I thank him very much.