Finance Bill

I am very grateful to the hon. Gentleman for being so generous in giving way. As he considers how to improve the effectiveness of regional policy, I would be interested to hear his views on the idea that has been floated by a number of people, including, I believe, the Chancellor. That would involve devolving more of European Union regional policy to a national level. The closer we get the decision to the individual communities concerned, the more likely we are to get it right.