Yes, this is new money. It is coming from the Treasury as part of the settlement. Clearly, my right hon. Friend the Chancellor will be setting out the medium-term fiscal plan on 31 October and that will be the moment of confirmation.

Yes, this is new money. It is coming from the Treasury as part of the settlement. Clearly, my right hon. Friend the Chancellor will be setting out the medium-term fiscal plan on 31 October and that will be the moment of confirmation.

The hon. Lady is right to advocate for flood protection, which is vital. I actually welcome her question, because it is an important chance to reaffirm that investment zones are not in any way about cutting away environmental protection. They are about streamlining planning and making sure that lower taxes are on offer in targeted sites. Overwhelmingly, they will benefit brownfield regeneration projects, which would otherwise take years to unlock. I really hope that reassures her, and we will look at her amendments in detail.

The hon. Lady is right to advocate for flood protection, which is vital. I actually welcome her question, because it is an important chance to reaffirm that investment zones are not in any way about cutting away environmental protection. They are about streamlining planning and making sure that lower taxes are on offer in targeted sites. Overwhelmingly, they will benefit brownfield regeneration projects, which would otherwise take years to unlock. I really hope that reassures her, and we will look at her amendments in detail.

Obviously, genuine additionality is the litmus test that we set for this policy, although it is vital to note that I see no harm in ensuring that, in areas where there is real opportunity, we bring good opportunities. On tax advantages, there will be a range of powers available, including on business rates relief, enhanced structures and buildings allowances, enhanced capital allowances and, critically, action on employer national insurance contributions, designed to ensure that there are incentives for new jobs in the zones.

Obviously, genuine additionality is the litmus test that we set for this policy, although it is vital to note that I see no harm in ensuring that, in areas where there is real opportunity, we bring good opportunities. On tax advantages, there will be a range of powers available, including on business rates relief, enhanced structures and buildings allowances, enhanced capital allowances and, critically, action on employer national insurance contributions, designed to ensure that there are incentives for new jobs in the zones.

My hon. Friend makes a compelling case for his project. It is clear that the level of interest across the House in investment zones is extraordinary; we have had hundreds of applications from local authorities for these zones, which is testament to the huge appetite for growth and investment opportunities across this country, driven by a low-tax Conservative Government.

My hon. Friend makes a compelling case for his project. It is clear that the level of interest across the House in investment zones is extraordinary; we have had hundreds of applications from local authorities for these zones, which is testament to the huge appetite for growth and investment opportunities across this country, driven by a low-tax Conservative Government.

I am terribly fond of the hon. Gentleman, as I hope he knows, but I am afraid he is just wrong in that summary of investment zones. There is no diminution

of workers’ rights or environmental rights; the zones are about lower taxes and streamlined planning to deliver jobs and growth, and we should all welcome that across the House.

I am terribly fond of the hon. Gentleman, as I hope he knows, but I am afraid he is just wrong in that summary of investment zones. There is no diminution

of workers’ rights or environmental rights; the zones are about lower taxes and streamlined planning to deliver jobs and growth, and we should all welcome that across the House.

We are committed to creating a fair and just housing system that works for everyone. We have already cut stamp duty land tax, as the threshold at which it becomes due has doubled to £250,000, and we are expanding first-time buyers’ relief. We also have a range of programmes in place to help people into home ownership. Since spring 2010, more than 800,000 households have been helped to purchase a home through Help to Buy.

We are committed to creating a fair and just housing system that works for everyone. We have already cut stamp duty land tax, as the threshold at which it becomes due has doubled to £250,000, and we are expanding first-time buyers’ relief. We also have a range of programmes in place to help people into home ownership. Since spring 2010, more than 800,000 households have been helped to purchase a home through Help to Buy.

I gladly pay tribute to Help to Buy, which has been a huge success, helping over 316,000 households to buy a new build from its launch in spring 2013 until the end of March this year. However, it was never designed to be a permanent intervention in the housing market. The closure at the end of March 2023 has been planned and publicised since the 2018 Budget, which has allowed the market to respond by introducing several products that provide similar levels of support to Help to Buy for first-time buyers. The Government have introduced various schemes as well, including First Homes, the mortgage guarantee scheme and shared ownership.

I gladly pay tribute to Help to Buy, which has been a huge success, helping over 316,000 households to buy a new build from its launch in spring 2013 until the end of March this year. However, it was never designed to be a permanent intervention in the housing market. The closure at the end of March 2023 has been planned and publicised since the 2018 Budget, which has allowed the market to respond by introducing several products that provide similar levels of support to Help to Buy for first-time buyers. The Government have introduced various schemes as well, including First Homes, the mortgage guarantee scheme and shared ownership.

My commitment to making sure that we follow through on the issue of remediating unsafe buildings is total. There are 24 buildings over 18 metres that have yet to be remediated in the way that the right hon. Gentleman sets out. My priority—I will meet developers shortly—is to ensure that they sign the contract, which they committed to do in the summer, thanks to the hard work of my right hon. Friend the Member for Surrey Heath (Michael Gove), and to make sure that they fulfil their responsibilities. We are also taking action against those freeholders who have declined to remediate the buildings that they are committed to look after. We have served a pre-action notice on the owners of Vista tower in Stevenage with precisely the intention of making sure that they honour their obligations.

My commitment to making sure that we follow through on the issue of remediating unsafe buildings is total. There are 24 buildings over 18 metres that have yet to be remediated in the way that the right hon. Gentleman sets out. My priority—I will meet developers shortly—is to ensure that they sign the contract, which they committed to do in the summer, thanks to the hard work of my right hon. Friend the Member for Surrey Heath (Michael Gove), and to make sure that they fulfil their responsibilities. We are also taking action against those freeholders who have declined to remediate the buildings that they are committed to look after. We have served a pre-action notice on the owners of Vista tower in Stevenage with precisely the intention of making sure that they honour their obligations.

My hon. Friend is absolutely right. We need to communicate clearly with the public about all the support and options that are available. My right hon. Friend the Chancellor is coming to the House later this afternoon precisely to give the kind of calm, clear messaging that we want so that we can reassure investors and the markets that there is a clear way forward on this vital question so that we can get interest rates as low as possible

My hon. Friend is absolutely right. We need to communicate clearly with the public about all the support and options that are available. My right hon. Friend the Chancellor is coming to the House later this afternoon precisely to give the kind of calm, clear messaging that we want so that we can reassure investors and the markets that there is a clear way forward on this vital question so that we can get interest rates as low as possible

We are looking at all the options that are open to us to try to accelerate house building across the country. We want to make sure that the right incentives are in place for developers to build—[Interruption.] If the hon. Member for Luton North (Sarah Owen) will let me answer the question, rather than shout at me. The reality is that we want to look at all those options. We have consulted on that particular option before, and we have decided not to do it. It is an issue that we keep under review, but the reasons that applied in our decision not to proceed then are very powerful.

We are looking at all the options that are open to us to try to accelerate house building across the country. We want to make sure that the right incentives are in place for developers to build—[Interruption.] If the hon. Member for Luton North (Sarah Owen) will let me answer the question, rather than shout at me. The reality is that we want to look at all those options. We have consulted on that particular option before, and we have decided not to do it. It is an issue that we keep under review, but the reasons that applied in our decision not to proceed then are very powerful.

This Government’s mission is to deliver economic growth to make every part of our country more prosperous and successful. Levelling up is central to that mission, and our commitment to delivering on that promise and objective is stronger than ever. We have launched our investment zones, which, as I have said already, elicited a huge response from local government. That is, of course, proof that there is an appetite to make that mission succeed. As Secretary of State, I will back local leaders every step of the way to drive growth and deliver for their communities.

This Government’s mission is to deliver economic growth to make every part of our country more prosperous and successful. Levelling up is central to that mission, and our commitment to delivering on that promise and objective is stronger than ever. We have launched our investment zones, which, as I have said already, elicited a huge response from local government. That is, of course, proof that there is an appetite to make that mission succeed. As Secretary of State, I will back local leaders every step of the way to drive growth and deliver for their communities.

Fond as I am of the hon. Lady, who is an excellent parliamentarian, I am afraid that she is wrong on this point. The report in question set out that councils across the north-east had spent £4 million applying for the levelling-up fund and had received more than £360 million in return. That seems a very good rate of return to me. On her point about people not knowing what levelling up means, tell that to the people of Teesside, with the remediation of the Teesworks site. Tell that to the people of Blyth, with Britishvolt. Tell that to the people of Hartlepool—[Interruption.]

Fond as I am of the hon. Lady, who is an excellent parliamentarian, I am afraid that she is wrong on this point. The report in question set out that councils across the north-east had spent £4 million applying for the levelling-up fund and had received more than £360 million in return. That seems a very good rate of return to me. On her point about people not knowing what levelling up means, tell that to the people of Teesside, with the remediation of the Teesworks site. Tell that to the people of Blyth, with Britishvolt. Tell that to the people of Hartlepool—[Interruption.]

I thank the hon. Lady for her welcome to the Dispatch Box. I am really proud, as someone who represents a classic community that needs to benefit from levelling up, to be in this post. On her point about investment zones, we are clear and, more importantly, local councils are clear that this is a transformational programme and we are evaluating the bids that have come forward so that we can give her an estimate of the numbers that will be unlocked by the bids that have been received.

I thank the hon. Lady for her welcome to the Dispatch Box. I am really proud, as someone who represents a classic community that needs to benefit from levelling up, to be in this post. On her point about investment zones, we are clear and, more importantly, local councils are clear that this is a transformational programme and we are evaluating the bids that have come forward so that we can give her an estimate of the numbers that will be unlocked by the bids that have been received.

The hon. Lady is asking me to evaluate the impact of bids that we received only on Friday, so I am afraid that her logic is back to front. We are proposing investment zones because they are needed to drive jobs, growth and opportunity. Councils can recognise that even if, sadly, the Labour Front-Bench team cannot.

The hon. Lady is asking me to evaluate the impact of bids that we received only on Friday, so I am afraid that her logic is back to front. We are proposing investment zones because they are needed to drive jobs, growth and opportunity. Councils can recognise that even if, sadly, the Labour Front-Bench team cannot.

I am very fortunate to have had two such able predecessors in my right hon. Friend the Member for Surrey Heath (Michael Gove) and my right hon. Friend the Member for Tunbridge Wells (Greg Clark), to whose work at the Department I pay tribute. As he knows, we are bringing forward devolution deals at pace—I believe in them passionately—and I hope that there will be good news to announce on both those deals very shortly.

I am very fortunate to have had two such able predecessors in my right hon. Friend the Member for Surrey Heath (Michael Gove) and my right hon. Friend the Member for Tunbridge Wells (Greg Clark), to whose work at the Department I pay tribute. As he knows, we are bringing forward devolution deals at pace—I believe in them passionately—and I hope that there will be good news to announce on both those deals very shortly.

Fracking will take place only where there is community consent.

Fracking will take place only where there is community consent.

I thank my hon. Friend for his question. It is a very perceptive one. We believe that zones can support both housing and jobs. Clearly, in some cases that could be on the same site.

I thank my hon. Friend for his question. It is a very perceptive one. We believe that zones can support both housing and jobs. Clearly, in some cases that could be on the same site.

I thank my hon. Friend for alerting me to the applications from his authority area. He has been the most tireless champion of saving Doncaster Sheffield airport, for which he deserves our congratulations.

I thank my hon. Friend for alerting me to the applications from his authority area. He has been the most tireless champion of saving Doncaster Sheffield airport, for which he deserves our congratulations.

The hon. Gentleman makes a powerful case on this issue and I commit the Department to meeting to discuss it.

The hon. Gentleman makes a powerful case on this issue and I commit the Department to meeting to discuss it.

I thank my hon. Friend for her question. We are looking at all the measures that can be used to drive forward and accelerate housing growth, but as I said in response to the right hon. Member for Exeter (Mr Bradshaw), there are compelling reasons why this option has not been pursued before, and I hope that will give some comfort to my hon. Friend today.

I thank my hon. Friend for her question. We are looking at all the measures that can be used to drive forward and accelerate housing growth, but as I said in response to the right hon. Member for Exeter (Mr Bradshaw), there are compelling reasons why this option has not been pursued before, and I hope that will give some comfort to my hon. Friend today.