Kevin Hollinrake

Kevin Hollinrake

Conservative — Thirsk and Malton

Speaking in the House of Commons on 17 October 2024

Debate

International Investment Summit

Contribution

That is simply not true—just read what the Bank of England said about that time. All the numbers went back to normal within a month of that fiscal event. The hon. Gentleman can choose his opinions, but he cannot choose his facts. Let us look at some facts. Of course we welcome the £63 billion that has been announced, but as the Minister and her Government stand on a platform of honesty and transparency, let us put some honesty and transparency around the numbers. The Amazon £8 billion was announced on 20 March this year. The Blackstone investment of £10 billion in a data centre was announced on 23 April this year. Of the £63 billion announced, £36 billion was announced prior to the investment summit or initiated via things like auctions by the previous Government. Only 20% of what was announced was not already in the pipeline before the investment summit. The reality is that much of it was already baked in. There is bound to be an overlap when a new Government come in, but let us have some transparency and honesty around the numbers.

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