New Infrastructure Investment 2021-09-07
2021-09-07
TAGS
Response quality
Questions & Answers
Q1
Direct Answer
▸
Context
MP asked about steps to incentivise businesses to invest in infrastructure.
What fiscal steps he is taking to incentivise businesses to invest in new infrastructure and equipment. The Infrastructure Forum recently published a report that showed clearly that the super deduction is already having an impact, accelerating investment by businesses. Will my right hon. Friend join me in encouraging businesses across Grantham and Stamford to take up the relief?
From the Office for Budget Responsibility to the Bank of England, many people have described the super deduction as doing exactly what my hon. Friend has said, and that is why we know it is working. I recently visited BT, for example, which, because of the super deduction, is now increasing the speed of its roll-out to millions more houses and creating thousands of new jobs in the process.
▸
Assessment & feedback
Response accuracy
Q2
Direct Answer
▸
Context
MP asked about infrastructure investments in different parts of the country.
Does my right hon. Friend agree that all parts of the country can benefit from investment in infrastructure, and that an excellent way of achieving that in my constituency, in support of the substantial housing development there, would be to approve funding for the Aylesbury link of East West Rail?
My hon. Friend is absolutely right to focus on making sure that our investment reaches every part of the country, including his constituency. I am pleased to tell him that £760 million has been allocated by the Chief Secretary and the Transport Secretary to deliver East West Rail.
▸
Assessment & feedback
Response accuracy
Q3
Partial Answer
▸
Context
MP asked about infrastructure investments in cities in the north of England.
I am afraid that I must tell the Chancellor that his infrastructure revolution is not very noticeable in cities in the north of England, which grind to a halt at rush hour. They desperately need infrastructure investment, particularly in public transport. Can he tell the House when he last met our city region Mayors in the north of England?
My entire team meet the regional Mayors all the time, and of course we will do so in the run-up to the spending review and the Budget.
▸
Assessment & feedback
Did not specify date or details of last meeting with Mayors
Response accuracy
Q4
Partial Answer
▸
Context
MP asked about railway infrastructure investments in South Wales.
That investment in infrastructure does not get to the south Wales railway service. DFT Ministers keep announcing increased services along the main line in south Wales, but no increased investment in stations, level crossings or, indeed, the track. When will the Chancellor get a grip and start investing in much-needed railway infrastructure in south Wales?
Rail investment over the course of this Parliament is at record levels, under CP5—control period 5—and then CP6. I am very happy to take away the specific schemes.
▸
Assessment & feedback
Did not commit to new investments specifically for South Wales railways
Response accuracy
Q5
Direct Answer
▸
Context
MP asked about infrastructure investment through pension funds.
I commend my right hon. Friend for his commitment to infrastructure, and I particularly welcome the UK Infrastructure Bank. Will he consider introducing an infrastructure bond so that long-term pension funds can invest in the future of this country too?
My hon. Friend is right. He has previously highlighted the importance of unlocking pension fund capital to invest in long-term assets such as infrastructure in the UK. The Prime Minister and I wrote to pension funds just recently discussing that, and my hon. Friend the Economic Secretary is actively working on creating a long-term asset fund.
▸
Assessment & feedback
Response accuracy