Oral Answers to Questions

Simon Kirby Excerpts

Tuesday 25th October 2016 Commons Chamber

[Edward Argar (Charnwood) (Con)]

9. What steps he is taking to support economic growth in the midlands.

[The Economic Secretary to the Treasury (Simon Kirby)]

The Government are committed to helping the midlands to unleash its economic potential and make it a powerful engine for growth. We are backing skills and innovation. We are supporting the automotive and aerospace industries. We have made investments, and we are putting power in the hands of local people by devolving budgets from Whitehall to a new mayor for the midlands. I hope that it is in order, Mr Speaker, for me to mention our excellent candidate, Andy Street.

[Edward Argar]

Earlier this year, a Grant Thornton report suggested that the east midlands could contribute £53 billion to the UK economy by 2025, reflecting the central role that Leicestershire and the east midlands continue to play in driving the country’s growth. Does my hon. Friend agree, however, that if we are to sustain that record of success, it is vital for us to continue to deliver on investment in Leicestershire’s road, rail and broader infrastructure?

[Mr Speaker]

Order. May I remind colleagues of the merits of the blue pencil?

[Simon Kirby]

Good advice, Mr Speaker, as ever.

I thank my hon. Friend for his interest in the east midlands. I agree that improving transport between and within our major cities is vital to help them fulfil their productive potential. As the Chancellor has said, we are investing over £5 billion in transport infrastructure to put the midlands at the heart of a modern transport network.

[Mr Speaker]

Pithiness personified.

[Mr Philip Hollobone (Kettering) (Con)]

May I press the case for the continued electrification of the midland main line and that there be no further delays to this excellent project?

[Simon Kirby]

Yes, he can.

[Christina Rees (Neath) (Lab/Co-op)]

10. What steps his Department is taking to compensate people affected by incorrect withdrawal of tax credits as a result of errors by Concentrix.

--- Later in debate ---

[James Heappey (Wells) (Con)]

15. What assessment he has made of the potential effect of a smart energy system on levels of productivity.

[The Economic Secretary to the Treasury (Simon Kirby)]

I thank my hon. Friend for his interest in both these important topics. The National Infrastructure Commission has estimated the benefits of a smart energy system to be between £3 billion and £8 billion a year by 2030.

[James Heappey]

I am grateful to the Minister for his response and am pleased that he agrees with the advantages of a smart energy system. Ahead of the autumn statement, will the Minister look at the role that the Treasury might play in digitising our energy system by accelerating the deployment of storage technologies, demand-side response and the upgrade of our distribution networks so that we can achieve the productivity gains he expects?

[Simon Kirby]

The Treasury will continue to work with the Department for Business, Energy and Industrial Strategy to drive forward a smart energy system. The Government have committed to implementing the National Infrastructure Commission’s recommendations in full.

[Steve Double (St Austell and Newquay) (Con)]

T1. If he will make a statement on his departmental responsibilities.

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[Philip Boswell (Coatbridge, Chryston and Bellshill) (SNP)]

The latest reports on the dash for cash in RBS’s Global Restructuring Group show even more misconduct by this bank. Given that we own a majority of RBS shares, does the Chancellor not believe that the UK Government have an obligation to the people of this country to conduct a robust investigation into the allegations of misconduct?

[The Economic Secretary to the Treasury (Simon Kirby)]

The Financial Conduct Authority is looking at this important issue, and we will wait on its view.

[Mr Speaker]

Michael Fabricant—not here. That is unprecedented in the history of my being in the Chair. I have never known the hon. Gentleman not to be here, but, fortunately, Mr Philip Davies is here.

--- Later in debate ---

[George Kerevan (East Lothian) (SNP)]

In light of the upcoming report of the RBS’s Global Restructuring Group and given that past systems of redress for small businesses have been ad hoc and have failed, will the Chancellor meet the all-party group for fair business banking to see whether we can involve a permanent and effective system of redress?

[Simon Kirby]

The hon. Gentleman makes a fair point, but we should wait until we receive the FCA report before we proceed.

[Robert Jenrick (Newark) (Con)]

Mr Speaker, you will have seen the latest Office for National Statistics survey that found that Newark is the happiest place in mainland Britain. However, what is testing the people of Newark is the appalling state of their local roads. Will the Chancellor do another favour for Newark, and in his autumn statement bring forward the new Newark northern bypass?