I am grateful to have secured this debate on the Coventry and Warwickshire city deal proposal, which has now been put before the Government. I congratulate the Coventry and Warwickshire local enterprise partnership, the Coventry and Warwickshire chamber of commerce, Warwickshire county council, Warwick district council, Coventry city council and all the local organisations, businesses and authorities—as well as my colleagues in the Chamber this evening—who have contributed to and supported the bid.
I fully support the city deal concept. I believe that devolving power to local communities and the principle of subsidiarity—devolving power to the organisation most capable of taking a decision—should be at the heart of Government policy. The city deal approach is that principle in action. Our city regions can be the engines of growth, and by crafting deals that provide targeted support and resources, we can generate significant economic momentum.
There are three factors in building a good city deal. First, it needs to build on local strengths and expertise. The UK economy is diverse, and city deals therefore have potential.