Sir Bernard Jenkin

The hon. Lady is clearly keener on the development than I am, but if the Government come up with some money to make this whole development viable again, I will of course resume my support for it. I would also very much welcome a visit from the Minister, but it remains to be seen whether we will get one. I am afraid that I refused to attend that event in November because I thought it was irresponsible to start a road if nobody knew how it would be funded or when it would be completed. The Minister may, in her response today, refer to a December memorandum of understanding on this matter between Essex county council, the Colchester and Tendring councils and Latimer, but I have to point out to her and to the Department that this is not a binding agreement. Paragraph 1.6 states that the funding of infrastructure, including the A1331 link road, is contingent, and that it “will only be possible if the overall delivery of TCBGC is financially viable.” Remember that it is £8,000 per home just for the road. TCBGC will no longer be financially viable. Financial contributions through section 106 will not be enough to cover the cost of phase 2 of the road along with all the other essential infrastructure plans for this development. What has got to give? Will we finish up with more GP practices closing their lists and not accepting more patients, or more schools without places for local kids? Section 106 funding should be for local infrastructure, not for national infrastructure such as this proposed new A road. The clue is in the term “A road”—it is part of the trunk road network. What is the benefit-cost ratio for this new road? The original funding application said 7:1. A 7:1 benefit-cost ratio is well above the threshold of “very high”, which is only 4:1, so this public investment will give very big payback for the local economy, jobs and tax revenues. Can the Minister provide us with a benefit-cost ration for just phase 1, which the Government have now retrospectively agreed to fund on its own? This was approved via a material amendment to the grant determination agreement that the Government have signed, allowing the county council to build just phase 1 with the grant money so far allocated. The Government agreement makes them complicit in the wishful thinking that this development will be viable. My guess is that the benefit-cost ratio for just phase 1 will be at rock bottom. It will have very little economic benefit at all, and would never have passed muster if it had been proposed as part of the funding arrangements at the outset. Without knowing what the phase 1 benefit-cost ratio is, how could the Government possibly justify turning down the request for funding to complete the A1331 link road? I speculate that the benefit-cost ratio of finishing the road is off the scale because of the sunk costs already committed. Labour has promised growth and new homes to voters, but with infrastructure first—