Oral Answers to Questions

Debate between Roberta Blackman-Woods and George Osborne

Tuesday 1st March 2016 Commons Chamber

[Nic Dakin (Scunthorpe) (Lab)]

12. What recent assessment he has made of the potential effect on the economy of the UK leaving the EU.

[The First Secretary of State and Chancellor of the Exchequer (Mr George Osborne)]

My responsibility as Chancellor is for jobs, livelihoods and living standards. It is clear to me that a UK exit from the EU would be a long, costly and messy divorce that would hurt all those things. We have already seen sterling fall, and yesterday HSBC predicted a further 15% to 20% slump in the event of a vote to leave. The finance Ministers and central bank governors of the G20 concluded at the weekend that a British exit would cause an economic shock not just to the UK but to Europe and the world. What people are asking for in this referendum campaign is a serious, sober and principled assessment from the Government setting out the facts. I can announce today that the Treasury will publish before 23 June a comprehensive analysis of our membership of a reformed EU and the alternatives, including the long-term economic costs and benefits of EU membership and the risks associated with an exit.

[Dr Blackman-Woods]

Given that up to 140,000 jobs and half of the north-east region’s exports rely on Britain’s membership of the European Union, does the Chancellor agree with me and the majority of members of the North East chamber of commerce that an exit from the EU would be extremely damaging for north-east economic growth and regeneration?

[Mr Osborne]

Yes, I agree with both the hon. Lady and businesses in the north-east. Of course, the north-east has thrived by attracting big inward investment for car manufacturing and train manufacturing, most recently in Newton Aycliffe. One of the things that those who are advocating exit from the EU have to answer is, for example, what the alternative arrangement is for a large car factory in north-east England. Could it export its cars to mainland Europe without tariffs? It is not obvious that it is possible to do that without paying towards the EU budget and accepting the free movement of people.

Autumn Statement

Debate between Roberta Blackman-Woods and George Osborne

Thursday 5th December 2013 Commons Chamber

[Mr Osborne]

My hon. Friend puts it very well. We have great obligations to the current generation, but we also have obligations to the next generations. Saddling them with debts or with an uncompetitive economy or one where jobs are not being created is a complete dereliction of our duty to the next generation. Thankfully, with the help, support and advice of my hon. Friend, we are now turning that situation round, dealing with the debts and making sure our businesses grow. Because of my hon. Friend’s forceful campaign, we are also helping many shops in his Wolverhampton constituency.

[Roberta Blackman-Woods (City of Durham) (Lab)]

Is not the point about the community infrastructure levy that it is there to pay for the infrastructure that communities need? Will the Chancellor tell us how much of it he intends to give away to individual households, and how he proposes to make up the resulting shortfall in funding for local infrastructure?

[Mr Osborne]

I do not have the specific answer with me, so I will write to the hon. Lady.

Spending Review

Debate between Roberta Blackman-Woods and George Osborne

Wednesday 26th June 2013 Commons Chamber

[Mr Osborne]

I am grateful for that welcome.

[Roberta Blackman-Woods (City of Durham) (Lab)]

The Chancellor knows that the north-east is already suffering disproportionately from his Government’s cuts, so can he tell the House what percentage of infrastructure spending will come to the north-east, and by when?

[Mr Osborne]

My right hon. Friend the Chief Secretary will set out the regional breakdown tomorrow.

Autumn Statement

Debate between Roberta Blackman-Woods and George Osborne

Wednesday 5th December 2012 Commons Chamber

[Mr Osborne]

My hon. Friend and I have a genuine disagreement on this matter. I think it is right for this country to honour its obligations to the world’s poorest. I think we should be proud to be a part of, and support, what will be the first Government in British history to reach the 0.7% target. I have had to rebase the aid budget because of the GDP forecast, as I do not want to spend more than 0.7% of national income. As a result, the Department for International Development has had one of the biggest adjustments to its budget of all Departments.

[Roberta Blackman-Woods (City of Durham) (Lab)]

Last year the Chancellor announced more money for infrastructure, but, as we know, not one single project has been delivered. Why should we believe the additional funding announced today will be any more productive?

[Mr Osborne]

That claim is simply not true. Road projects are being completed across the country and infrastructure is being deployed. The science infrastructure, for example, has now all been completed, and I have announced £600 million more for science. If the hon. Lady is saying that it takes a long time to get some infrastructure projects going because of the constraints in the planning system, however, she is right. That is why we have also taken steps to streamline the process we inherited so it is easier to get things built by tackling the bureaucracy that has to be dealt with, while at the same time allowing those who have objections to have them fairly heard.

Oral Answers to Questions

Debate between Roberta Blackman-Woods and George Osborne

Tuesday 26th June 2012 Commons Chamber

[Mr Osborne]

I point out to my hon. Friend that we have published that evidence. As I say, the matter is now with the independent pay review bodies, so let us wait to hear what they have to say.

[Roberta Blackman-Woods (City of Durham) (Lab)]

10. If he will discuss with his ministerial colleagues bringing forward the timing of public infrastructure investment in order to encourage economic growth.

Global Economy

Debate between Roberta Blackman-Woods and George Osborne

Thursday 11th August 2011 Commons Chamber

[Mr Osborne]

I completely agree with my hon. Friend about the need to make progress on our planning reforms for the reasons that he gives. That means making some difficult decisions, and taking on some pressure groups, but I think that is absolutely right. Our planning reforms take into account the need to preserve our natural environment.

Believe it or not, I am very familiar with the subject of Humber bridge tolls because my hon. Friend the Member for Beverley and Holderness (Mr Stuart) is a tireless campaigner on them. The Treasury is conducting an economic study of the effects of the tolls, and that will report at some point in this Parliament.

[Roberta Blackman-Woods (City of Durham) (Lab)]

I congratulate the Chancellor on recognising, albeit somewhat belatedly, that there is a link between what happens in the global economy and what happens in the UK economy. In the light of that, what action does he intend to take to ensure that the problems with the US economy and the eurozone do not lead to further downward pressure on UK economic growth?

[Mr Osborne]

Unfortunately, I cannot make the UK invulnerable to events elsewhere in the world. Of course there is a global connection. I would draw this distinction between what I am saying and what the previous Prime Minister, the right hon. Member for Kirkcaldy and Cowdenbeath (Mr Brown), says. I am not saying that Britain has been blameless in the way it has handled its economy in the past decade or so. I am saying that we were the most enthusiastic participant in a global debt boom, and as a result we have one of the more difficult adjustments. That is, I am afraid, a statement of fact.