Oral Answers to Questions

Peter Bone Excerpts

Tuesday 17th April 2018 Commons Chamber

[Robert Jenrick]

I entirely agree. That is why we are working with Mayors such as the Mayor of Tees Valley, who is producing a development corporation and has new powers of planning reform and so on to drive forward the economy of that part of the north-east. We are very happy to talk to other hon. Members who would like to take forward similar proposals.

[Mr Peter Bone (Wellingborough) (Con)]

6. How much his Department has spent on preparing for the possibility of no deal with the EU when the UK leaves the EU.

[The Chief Secretary to the Treasury (Elizabeth Truss)]

I am pleased to tell my hon. Friend that in the spring statement we allocated £1.5 billion to make sure that we are prepared for all eventualities in the European negotiations.

[Mr Bone]

I am grateful to the deputy Chancellor for her response. Has she had an opportunity to look at table 4.28 in the Office for Budget Responsibility report accompanying the autumn Budget, which shows a Brexit dividend of £55 billion in the four years between 2019 and 2023? Does the deputy Chancellor agree with her own figures showing that leaving the EU will be a great economic benefit to this country?

[Elizabeth Truss]

I thank my hon. Friend for his question. There is indeed money that will be released as a result of our leaving the European Union. We are working on the spending review, which will take place next year, and part of the job of that spending review will be looking at how we allocate that money domestically.