Bolton Public and Private Investment 2022-11-15

2022-11-15

TAGS
Response quality

Questions & Answers

Q1 Partial Answer
Yasmin Qureshi Lab
Bolton South and Walkden
Context
The MP is concerned about the level of public and private investment in her constituency, particularly after recent government initiatives.
What recent estimate has been made of levels of (a) public and (b) private investment in Bolton. I note that the Government have invested £20 million to create the Bolton College of Medical Sciences through the levelling-up fund, and Bolton received £22.9 million from the towns fund for economic and social regeneration.
The Government have made significant public investments in Bolton, including £20 million for the Bolton College of Medical Sciences through the levelling-up fund and £22.9 million from the towns fund. However, the Government does not routinely estimate private investment levels.
Assessment & feedback
Estimate of recent levels of private investment in Bolton
Response accuracy
Q2 Partial Answer
Yasmin Qureshi Lab
Bolton South and Walkden
Context
The MP met with the chief executive of Bolton and Bury citizens advice bureau who reported a 10% funding cut by the Money and Pensions Service, equivalent to £22,000 or one staff member's salary.
I met the chief executive of Bolton and Bury citizens advice bureau. Among its many services, it employs money advisers. However, due to a 10% funding cut by the Money and Pensions Service, my local branch will lose £22,000 or one staff member's salary. With demand for services doubling during energy and cost of living crises, how can the Chancellor push through such cuts? Will he reverse them?
During the pandemic, additional Government grants were made available for debt advisers but some money was not used. There has been an attempt to review how this money is distributed, but I will take this matter back to the Economic Secretary to see what can be done.
Assessment & feedback
Reversing the 10% funding cut
Response accuracy
Q3 Partial Answer
Context
The MP is interested in public sector investment, particularly the Darwen town deal which invests £100 million. He seeks support from the Government for capital investment in manufacturing businesses.
We welcome public sector investment such as the Darwen town deal investing £100 million. However, we are keenly interested to hear what those on the Treasury Bench will do to support capital investment, particularly in manufacturing businesses. We hope that in the forthcoming autumn statement the Government will give some support to our great manufacturers in Lancashire.
Maintaining capital investment is critical. We focus on efficient use of funds, setting conditions for growth and ensuring outcomes are met.
Assessment & feedback
Specific support for manufacturers in Lancashire
Response accuracy