Inward Investment: Scotland

3. What recent discussions he has had with Cabinet colleagues on encouraging inward investment into Scotland.

I welcome my hon. Friend to his place; it was a wonderful election result in his constituency of Airdrie and Shotts. Investment in the UK to drive growth is the Government’s No. 1 priority, and we have already started delivery on it. Just this month, we hosted an international investment summit, at which we announced £63 billion of shovel-ready investment across the UK. That includes the likes of Greenvolt’s £2.5 billion investment in Scotland and Iberdrola’s £24 billion investment in green energy. We also announced this week that Glasgow will host the Commonwealth games, which will bring £100 million to the city.

I thank the Secretary of State for his answer. It is refreshing to see a Government working across Departments to ensure a pro-worker, pro-business and pro-growth approach that attracts inward investment. After years of Scotland being let down by two poor Governments, how does he see this new Labour Government approach benefiting my constituents in Airdrie and Shotts?

The No. 1 benefit to my hon. Friend’s constituents in Airdrie and Shotts will be that they have him for their Member, championing them. I am pleased by his welcome for our approach. Airdrie and Shotts has a rich industrial heritage, and a modern industrial strategy will reignite the industrial and technological potential in all our communities. The national wealth fund and Great British Energy will help rebuild Scotland’s industrial base. We want Scotland to be the most attractive part of the UK to invest in, and we will continue to work closely with the Scottish Government to make that a reality. I could not put it better than my hon. Friend did: pro-worker, pro-business and pro-growth—that is this Government.

Earlier this year, the UK Conservative Government promised a £20 million levelling-up partnership for my city of Dundee, for projects such as the university’s life sciences innovation district, a new campus for Dundee and Angus college, and the Dundee Museum of Transport. Despite having written two letters in the last four months seeking assurances about the funding, I have so far not received a commitment to it, which raises concerns that Labour is about to renege on this commitment. Can the Secretary of State assure me today that these projects and the £20 million for Dundee will be committed to in full?

The hon. Gentleman will not have to wait long. The Budget is in about an hour’s time, and the Chancellor will lay out all the spending plans in that Budget. The biggest impact on his constituency of Dundee will of course be made by GB Energy, given what that will do to our green energy system; it makes me very surprised that nobody from the SNP voted to back the Bill last night.