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Economic Growth (North-east)

Volume 513: debated on Tuesday 13 July 2010

To support private sector enterprise throughout the UK and to ensure that all parts of the country benefit from sustainable economic growth, the Government will use the national insurance system to reduce the cost to new businesses of employing staff in all parts of the UK outside London, the south-east and the east of England. We will establish a £1 billion regional growth fund to support strategic growth and focus investment in the English regions. We will also publish a White Paper later in the summer on a new approach to sub-national growth, including local enterprise partnerships.

Does the Minister agree that Teesside represents a great opportunity for the new green investment bank, and that it would be a good location for the administrative centre of the bank?

I welcome the interest shown in Teesside as a location for the green investment bank. Throughout the north-east, on Teesside, Wearside and Tyneside, we are seeing significant investment in green technology, which is a key way of rebalancing the economy and creating more private sector jobs in the north-east.

Is the hon. Gentleman’s question specifically on the north-east? No? I know that he is from the north-west. Never mind. I wondered whether he wanted to say something about the north-east, but no.