Spending Review 2025
Debate between Rachel Reeves and Chris McDonald(3 weeks, 2 days ago)
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Rachel Reeves
The hon. Lady makes a really important point. Every single MP in this House will have heard harrowing stories of parents desperate to get support for their kids with special educational needs. The Secretary of State for Education will be bringing forward a White Paper to make the reforms that are desperately needed. We will make sure that we do that in partnership with the parents and children who are most affected.
Chris McDonald (Stockton North) (Lab)
The Chancellor of the Exchequer may remember that the last Conservative Prime Minister boasted about moving funding from Teesside to Royal Tunbridge Wells. I am pleased to see that her statement plugs places such as Stockton North back into our economy. I thank the Chancellor for agreeing to make Stockton central one of the trailblazer areas, investing in our local facilities and tackling fly-tipping and graffiti. Does she agree that the statement shows that our Labour Government are providing jobs for working people, providing homes for working people and providing opportunities for our young people?
Rachel Reeves
I am pleased that Stockton will be benefit from some of those investments, because pride in place is so important for all our communities. Some of the most deprived parts of the country have missed out on funding for too long, which is why we are pleased to be able to rectify that and ensure, for example through the Green Book reforms, that money goes to where it is most needed.
Oral Answers to Questions
Debate between Rachel Reeves and Chris McDonald(1 month, 2 weeks ago)
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Rachel Reeves
This deal is worth £5 billion to the UK economy, and it also benefits British workers being posted by their company to work in India. The Conservatives are now in the absurd situation of opposing the US deal, the India deal and the deal with the EU. They are simply not serious. The India deal reduces tariffs on Scotch whisky by more than half and brings into the UK more good jobs paying decent wages—the Conservatives seem to be against that.
Chris McDonald (Stockton North) (Lab)
Special steels business Paralloy in Billingham, in my constituency, has told me that uncertainty on international trade has recently left its customers running for the hills. Does the Chancellor of the Exchequer agree that now we have trade deals coming along like buses—with India, the US and the EU—we can offer reliability and confidence to important local businesses such as Paralloy that want to export to the world?
Rachel Reeves
Steel is one of the sectors that will benefit particularly from the trade deals this Government have secured, freeing ourselves of tariffs on steel going into the US. Indeed, the deal we secured with the EU yesterday means that we avoid tariffs on steel being sold into European markets, as well as now being exempt from the European carbon border adjustment mechanism, which is good for steel and good for jobs right across Britain.
Oral Answers to Questions
Debate between Rachel Reeves and Chris McDonald(5 months, 1 week ago)
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Chris McDonald (Stockton North) (Lab)
Rachel Reeves
I join my hon. Friend in congratulating Intasite on its 10th anniversary as a business, and on the rapid growth it is enjoying. The announcement we were able to make last year on the carbon capture and storage work in Teesside will be a big driver of jobs and growth there, and I look forward to working with him and local businesses in Stockton to make that a reality.
UK-China Economic and Financial Dialogue
Debate between Rachel Reeves and Chris McDonald(5 months, 2 weeks ago)
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Rachel Reeves
I am not sure whether the hon. Gentleman follows global financial markets, but borrowing costs have increased for countries around the world. What we saw under Liz Truss’s mini-Budget was unique to the United Kingdom, because it was only UK markets that were affected by the decisions of the Conservatives.
Chris McDonald (Stockton North) (Lab)
It is great to see our Chancellor of the Exchequer working with international business and winning investment for the UK. Does she agree that while the Conservatives were happy to sell out our heavy industry to China, leading to the end of steelmaking in Teesside after 150 years, our industrial strategy is delivering investment in steel, chemicals and life sciences in Stockton North, in Teesside and across the UK?
Rachel Reeves
The national wealth fund created by this Government will get investment into industries such as carbon capture and storage, green hydrogen, ports and, indeed, steel. We were really pleased at the end of last year to be able to announce investment in carbon capture and storage in Merseyside and Teesside, securing billions of pounds of investment into those economies and securing many thousands of jobs.
Oral Answers to Questions
Debate between Rachel Reeves and Chris McDonald(10 months ago)
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Rachel Reeves
Before I became a Member of Parliament I was an economist at the Bank of England and I respect the independence of the Bank of England. The previous Government undermined that independence. That contributed to the economic chaos that we saw under the last Conservative Government. This Government will never go down that route.
Chris McDonald (Stockton North) (Lab)