Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment has she made of the potential impact of the Spring Statement 2025 on per capita GDP growth in Aldridge-Brownhills.

Ensuring growth is felt in all regions of the UK is central to the Government’s Growth Mission. Our strategy for regional growth will drive growth in all regions and make the most of the opportunities in each part of the country.

We are supporting regional growth, with a total package for local growth funds worth over £3 billion in 2025-26 alone. The UK Shared Prosperity Fund has been extended for a transition year at £900 million, ensuring stability for the most important local projects. We are launching integrated funding settlements to empower local leaders to drive local growth and invest in local priorities. West Midlands MCA will be eligible for an integrated settlement in 2026/27, worth over £380m.

The Government has set a new strategic steer for the National Wealth Fund to deliver our ambition for growth across the country. The NWF will trial Strategic Partnerships, including in the West Midlands, to provide deeper, more focused support to regions.

The OBR forecasts that living standards will rise in every year of its forecast and therefore that they will be higher by the end of the Parliament. GDP per capita will rise by 5.6% over this parliament (Q3 2024 – Q2 2029). This compares to a decline in GDP per capita under the previous Parliament.