Public/Private Partnerships
Debate between Lord Wilson of Sedgefield and Lord Lee of Trafford(3 weeks, 4 days ago)
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Lord Wilson of Sedgefield (Lab)
I thank the noble Lord for that question. The Government are learning from all these other jurisdictions. The 10-year infrastructure strategy set out the Government’s long-term plans for the economy and we are going to invest some £725 billion over that 10-year period—so some £72 billion a year. Obviously, if we are going to do that, some of it will end up being in public/private partnerships but, as I have said repeatedly, just like we would with any other scheme, we are only going to do what is in the best interest of the taxpayer and of the Exchequer.
Lord Lee of Trafford (LD)
My Lords, the Minister mentioned ISAs. Could he tell us why the Government give tax relief, via ISAs, to people who invest in overseas equities?
Lord Wilson of Sedgefield (Lab)
From next April, we are planning to reduce the allowance for investment in cash ISAs to £12,000 to encourage people to invest in stocks and shares ISAs. Figures for 2024-25 will be published later this month on how much more money is being invested in stocks and shares ISAs. We do not have the figures for the current year, but we will see from those figures the investment levels that are being transferred over to stocks and shares ISAs and how that money is going to be spent.