Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps her Department is taking to encourage a culture of economic growth in deindustrialised areas.

The Government is committed to improving economic growth and living standards across every part of the United Kingdom, including in communities affected by the long-term decline of industry. We are moving away from a model where growth is concentrated in a few places to one that unlocks investment in every region.

At the March 2026 Mais Lecture, the Chancellor set out plans to empower regional growth, including establishing City Investment Funds with an additional £2.3 billion of grant, loan and patient capital funding for major city regions, with up to £1.7 billion going directly to mayors in the North. Over £150 million will also be invested through the IS8 cluster (Industrial Strategy growth driving sectors) programme into five areas across the North and North East, backing growth-driving sectors where places already have strengths, to grow firms and create good local jobs. This builds on the £15.6 billion confirmed at the Spending Review for Transport for City Regions settlements, and the £5.8 billion being provided for deprived neighbourhoods across the UK through the Pride in Place Programme.

Alongside investment, the Government is tackling economic inactivity directly. We have announced further investment to unlock up to 200,000 new jobs and apprenticeship opportunities for young people, including a new Youth Jobs Grant and an expanded Jobs Guarantee, taking total investment in the Youth Guarantee and the Growth and Skills Levy to £2.5 billion over the next three years. Through the National Wealth Fund, the Government has invested £3.8 billion across a number of projects, creating or supporting 20,300 jobs in its first year.

Taken together, these measures are designed to raise investment, create more jobs and improve living standards in the places that have too often been left behind.