Oral Answers to Questions Debate

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Department: HM Treasury

Oral Answers to Questions

Graham Allen Excerpts
Tuesday 19th July 2016

(7 years, 9 months ago)

Commons Chamber
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David Gauke Portrait Mr Gauke
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First, I thank the hon. Gentleman and welcome him to his post. I am delighted to see that the shadow Front Bench is almost up to full complement.

We obviously face a number of challenges in terms of the new situation, but there are also a number of opportunities. As I have made clear repeatedly today, the Government are determined to ensure that, whatever the consequences of the Brexit vote, we will enable the northern cities to prosper and work together. That remains a Government priority.

Graham Allen Portrait Mr Graham Allen (Nottingham North) (Lab)
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11. If he will commission research on the potential long-term savings to the public purse of greater investment in cross-departmental schemes to promote early intervention; and if he will make a statement.

David Gauke Portrait The Chief Secretary to the Treasury (Mr David Gauke)
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The Government recognise the benefits of early intervention to ensure that all children and young people receive the best possible start in life. The Government worked with the hon. Gentleman and others to establish the Early Intervention Foundation. We continue to provide funding to the foundation to develop and share the evidence base in this area. The Government have also invested £770 million in the troubled families programme, which aims to achieve sustained positive outcomes for 400,000 families with multiple complex problems by 2020.

Graham Allen Portrait Mr Allen
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I welcome the new Treasury Front Benchers to their duties. I hope that they will take the opportunity over the summer to reorient the Treasury’s thinking away from late intervention, firefighting and paying excessively to put things right, and consider an early intervention philosophy that allows the Treasury to invest early and make a lot of money. They should look at Big Society Capital and its terms of reference, and consider the possibility of improving the market for social investment bonds. Will the Chief Secretary meet me and colleagues from all parties to discuss those issues?

David Gauke Portrait Mr Gauke
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I am very happy to meet the hon. Gentleman to discuss those issues. To be fair to the Government, we introduced social impact bonds and the troubled families programme, which seems to be working. There are good signs in terms of improved school attendance and reduced youth crime and antisocial behaviour. We do recognise the benefits of early intervention, but I am happy to discuss it with him at greater length over the weeks ahead.