Strengthening the Union — House of Commons, 2018-07-23
Topic: Macroeconomics
David Thomas Morris (Conservative, Centre-right): And Lancashire, and quite right, too, Mr Deputy Speaker; one great Lancastrian speaks to another. So what have we done to make things even? Well, we have English votes for English laws, which went a long way to try to even out the big question—the West Lothian question. [Interruption.] It did. When we did that, we looked into the Barnett formula and idiosyncrasies that went with it. The Government have put £1.2 billion into Wales, boosting the Barnett formula by 5%, so for about every £100 spent in Wales about £120 is actually coming back into Wales. This has gone a long way to evening out the equilibrium of the economies If we think about that, we see that putting an extra 5% into the Barnett formula works out at £67 million over the next five years, which has to be welcomed. This has put Wales in a very positive position in terms of the Brexit problem of leaving the EU. The Government are extending to mid-Wales a growth deal similar to the city deal in Cardiff. That city deal is £615 million, which has been more money put into Wales than any other Government have ever done before. That has to be welcomed. If we are doing that in mid-Wales, imagine what is going to happen there. There is always a problem with transport in mid-Wales, but if we get the transport sorted out in that area, that will provide a boost—it is inevitable. If we get a spaceport there, which is something I will discuss when I get to the Scotland part of my speech, that will pay dividends for mid-Wales, because we have aerospace factories there—Airbus is there and just nearby. That is a huge contributor to that part of the economy in that area, so we must think of this in a positive way Turning to Scotland, I know I am probably going to upset the SNP, although I do not really want to do that because the whole tone of what I am trying to do is to be constructive. [Interruption.] I do not want to upset my own colleagues either, so please behave I have to make another declaration, as I am the chairman of the parliamentary space committee—there is such a thing. A lot of SNP Members are on it, along with a lot of Conservatives and a lot of Labour Members. The space industry is growing by 11% a year—it has done so year in, year out, all the way through the recession we have just been through. The industry is getting bigger and bigger. Within the next 10 years, space tourism will be a reality. Not so long ago, it was announced that we were going to be having horizontal take-offs from the south-west, but we are going to be having ballistic applications happening in Sutherland. What does that really mean? I do not want to stir up my SNP friends and make a political point, but if we have a spaceport in that area, that will change the economy; it will be a big game changer and a huge infrastructure programme. Although I really want you to stay with us, another problem we would have if Scotland did go independent is that it would contravene the ITAR—International Traffic in Arms Regulations—agreement. The Americans would not accept anything ballistic we put up there, so we would not be able to send satellites up from there or they would not put satellites up from that area. [Interruption.] That is true. If Members would like to look into it, they will find that is a valid point.