Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of introducing an economic diversification fund to assist constituencies where economies have historically been dependent on a single industry.

The Government is committed to supporting every local area invest in their local economic priorities and to level up opportunity across the country, including Blackpool. This is why at the previous Budget we announced £6bn for local transport in England, £10.9bn new capital investment into housing, and £5bn to support the rollout of gigabit broadband to the 20% hardest to reach areas. These build on the government’s previous investments, such as the Blackpool 21^st Century Centre, the Blackpool Bridges and the Blackpool Tramway Extension funded through our Local Growth Fund. In addition to this Blackpool has been shortlisted as one of the 100 Towns for our £3.6bn Towns Fund.