I am afraid I may have to disappoint my hon. Friend, because the £23 billion is specifically targeted at productivity-enhancing investment in R and D and infrastructure. That is because we judge that, with our level of debt, to be credible in the markets, we have to borrow only for that kind of additional productivity-enhancing investment, and it will go into network investment, R and D and innovation.
Autumn Statement
Proceeding contribution from
Lord Hammond of Runnymede
(Conservative)
in the House of Commons on Wednesday, 23 November 2016.
It occurred during Ministerial statement on Autumn Statement.
About this proceeding contribution
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617 c938Session
2016-17Chamber / Committee
House of Commons chamberSubjects
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2022-09-11 17:55:25 +0100
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