Jobs and the Unemployed

Debate between Elizabeth Truss and Gordon Banks

Wednesday 7th July 2010 Commons Chamber

[Elizabeth Truss]

I am in the process of making representations on the A11, which is a crucial project that would open up businesses in Norfolk. We should assess such projects—I shall come to this later in my speech—on the basis of economic return. We have a very small pot now, owing to what has happened and the money that has been spent in the past few years, and we need to use that pot wisely. I should like to see the evidence on those various roads and consider the highest rates of return. That is my answer to the hon. Gentleman’s point.

Given that businesses would like growth to be created in that way, so that they can create jobs, where have the last Government spent the money? Have they spent it on infrastructure? The World Economic Forum report suggests that Britain is sixth in terms of gross domestic product. Where do hon. Members think that we are on the infrastructure table after 13 years of Labour Government? We are thirty-fourth. That record has created the problems that we see: new jobs are not being created in the private sector because the money was not spent. Not only did the last Government fail to fix the roof while the sun was shining, they failed to fix the roads while the sun was shining, and we are left with that legacy. We are left with a difficult position. Not only are there potholes in our roads, but there is a huge hole in our budget. We must ensure that we spend on things that provide value for money.

[Gordon Banks]

Is the hon. Lady carrying on from where I left off and advocating significant investment in the construction industry? A simple yes or no would be good.

[Elizabeth Truss]

Such decisions should be based on the economic return, as I have said. That is how we should consider spending our money. The problem with the previous Government is that the money has gone on politically motivated white elephants, to gain good results in Government elections or to placate interest groups. We have not seen value for money.