Question to the HM Treasury:

To ask His Majesty's Government what steps they are taking to deliver major infrastructure projects to boost growth in the economy.

The Government announced its new fiscal rules at the Budget in October, including an investment rule. This rule keeps debt on a sustainable path while allowing the step change needed in investment, by targeting a measure of debt that captures not just the debt that government owes but also financial assets that are expected to generate future returns. This will deliver an additional £100 billion of growth-enhancing capital spending, which catalyses private sector investment in more housing, better transport links, and clean energy.

In January, the Chancellor also set out our support for private investment, including a third runway at Heathrow, a £10 billion in a data centre in Northumberland and a £1 billion advanced manufacturing investment in North Wales.

As part of the Government's growth agenda, we will publish a 10-year Infrastructure Strategy alongside the 2025 Spending Review, which seeks to reduce uncertainty by bringing together a long-term plan for the country’s social, economic, and housing infrastructure.

The newly created National Infrastructure and Service Transformation Authority will bring oversight of strategy and delivery under one roof, supporting the development and implementation of the 10-year infrastructure strategy in conjunction with industry.

The Planning and Infrastructure Bill, currently before Parliament, will streamline the planning system to deliver a faster and more certain consenting process for major infrastructure projects. This is part of the government's wider actions to deliver a pro-growth planning system, including revising the National Planning and Policy Framework and reviewing the role of statutory consultees.