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Economic Growth

Volume 511: debated on Tuesday 8 June 2010

10. What recent assessment he has made of the level of growth in the UK economy compared with those of other OECD countries. (927)

The independent Office for Budget Responsibility will publish forecasts for growth in the UK ahead of the emergency Budget.

There is too much deprivation in Dover and Deal. We need more jobs and money locally. What action will the Government take to increase the trend growth rate of this nation, so that the people of Dover and Deal get more jobs and money, and Britain does better?

The best thing that we can do to increase growth and create jobs in this country is tackle the enormous budget deficit that we inherited from the previous Government. By taking firm action to reduce the deficit, we can restore confidence in the economy and help the private sector to create jobs. That is what we need to do.

The £80 million loan to Sheffield Forgemasters was an investment designed to encourage the growth of the advanced manufacturing sector of the economy, not just across south Yorkshire but across the UK as a whole. Will the Government bear in mind that investment, and the long-term context, when they make a decision on the future of that loan?

I am grateful to the hon. Lady for making that point, and I have certainly heard what she said. Obviously, we are reassessing carefully projects approved by the previous Government between 1 January and the election, and we will make an announcement in the near future.