Mansion House Accord
Debate between Torsten Bell and Jim Dickson(1 day, 22 hours ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Torsten Bell
Some 90% of the industry, by active saver numbers, have signed up to the accord today, and the small number of large providers who have not signed up are supportive of the move towards greater private investment. There is a very broad consensus across the industry that this is the right way to go. Unrelated to that, but much more importantly, the hon. Gentleman is absolutely right that we need to see that investment right across the country, including in Northern Ireland and in his own constituency.
Jim Dickson (Dartford) (Lab)
I welcome the accord and the Minister’s words. People in Dartford are awaiting further news of a funding package for the lower Thames crossing, which the Government consented recently and is incredibly welcome to residents there. Does the Minister agree that this is just the sort of shovel-ready infrastructure project which pension funds could invest in both for the benefit of their savers and to drive economic growth for constituents including my residents?
Torsten Bell
My hon. Friend is absolutely right. The lower Thames crossing has been consented, and it is another example of this Government getting on with getting the country building again, and when we come to the spending review—[Interruption.] If I were in the Conservative party, I would not be talking about the lower Thames crossing; I really would not be. The regime for planning that the Conservatives put in place meant that hundreds of millions of pounds have been taken to build precisely diddly squat. This Government have given consent, and we will be setting out in the coming months the provision for that scheme to go ahead.