Mr John Redwood (Wokingham) (Con): Does the Chancellor agree that the projects that have the most beneficial impact on the economy are those that are fully self-financing in the private sector because they are popular?
The Chancellor of the Exchequer (Mr George Osborne): I agree that we want to see private sector investment, and tens of billions of pounds of private sector investment is coming into the United Kingdom. Indeed, today the Chinese company Huawei has announced a $2 billion investment in the UK. I absolutely agree with my right hon. Friend. We want to create the low-tax, competitive conditions for the UK economy in which the private sector can grow, but I think he would recognise that there is a role for public money in providing large-scale transport infrastructure, for example, which these companies need to succeed.