Member

I struggle to see, therefore, what is gained by the Government producing a high-level, economy-wide report on social impact, however that is defined, particularly when the concepts used in the amendment are necessarily broad and subjective. Decisions on how much to invest in areas such as social housing or green technology are highly scheme-specific. They depend on evidence, mandate, time horizon and risk tolerance, not a generalised assessment conducted from Whitehall. For these reasons, although I understand and respect the motivation behind the amendment, I do not believe that requiring the Secretary of State to carry out such a review is necessary or desirable; I hope that the noble Baroness will understand why I am unable to support it.