Julie Cooper – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Julie Cooper on 2016-04-08.

To ask Mr Chancellor of the Exchequer, with reference to paragraph 1.249 of the Budget 2016, when and how the Government plans to consult on the priorities and delivery models of the Shale Wealth Fund; and how much of that fund he expects to be allocated to (a) Lancashire and (b) Burnley.

Damian Hinds

The Government will be consulting on the priorities and delivery models for the Shale Wealth Fund later this year. Details on how the government plans to consult on the Shale Wealth Fund will be announced in due course.

The Shale Wealth Fund is projected to deliver up to £1 billion of investment in the North and other shale producing areas over the next 25 years. This will provide additional funds over and above industry schemes and other sources of government funding. Further detail on how these funds will be allocated will be addressed when the government consults on the priorities and delivery models of the Shale Wealth Fund.