Panama Papers

Alok Sharma Excerpts

Monday 11th April 2016 Commons Chamber

[Sir Edward Leigh (Gainsborough) (Con)]

Well, it is a shocking scandal: we now know that the Prime Minister divested himself of all his shareholdings before he became Prime Minister and has paid his taxes in full.

[Alok Sharma (Reading West) (Con)]

Exactly—shocking.

[Sir Edward Leigh]

Shocking. However, there is a wider question that I would like to put to the Prime Minister, and it follows the question from the Chair of the Treasury Committee. As long as we have the longest tax code in the world after India, will not hard-working families always use legitimate ways to try to minimise their tax bill? Some of us have been arguing for years for a flatter tax system to merge rates. Let me give the Prime Minister a suggestion. The best way to stop people avoiding the payment of inheritance tax—that iniquitous tax—it is to abide by our manifesto commitment and abolish it.

--- Later in debate ---

[The Prime Minister]

Of course there is bad practice, not least in some of these jurisdictions, and that needs to be dealt with. That is what tax transparency, the sharing of information, the registers of beneficial ownership and all the rest of it are about. The other thing to recognise that happened last week is that the £11,000 personal allowance came in, so people can now earn £11,000 before having to pay any income tax at all. That completed our work of taking 4 million of the lowest paid people in our country out of income tax altogether.

[Alok Sharma (Reading West) (Con)]

The Prime Minister has paid his taxes and behaved perfectly properly, and I commend him for standing up to those who have sought to besmirch his father’s reputation and memory. Will he remind us how much extra money has come into the Exchequer as a result of his Government’s closing the loopholes that were set up under 13 years of Labour government?

[The Prime Minister]

The point is that we raised an extra £12 billion in the last Parliament, and we want to raise another £16 billion in this Parliament, stretching out to 2021 the figures that I gave. Also, by having a lower rate of corporation tax, we have actually seen more corporation tax come in. Low tax rates, but tax rates that people pay—those are our watch words.

Oral Answers to Questions

Alok Sharma Excerpts

Wednesday 1st July 2015 Commons Chamber

[The Prime Minister]

Those decisions must be made by local authorities in the proper way, under the planning regime we have. Personally, I hope that, over time, unconventional gas sites will go ahead, whether in Lancashire or elsewhere, because I want our country to exploit all the natural resources we have. I want us to keep energy bills down and I want us to be part of that revolution, which can create thousands of jobs. I also want to ensure that we can exploit our own gas reserves rather than ship gas from the other side of the world, which has a higher carbon footprint. We should do that, but if the Labour party wants to paint itself into a background of not wanting any unconventional gas at all, it should say so.

[Alok Sharma (Reading West) (Con)]

Q9. Labour-controlled Reading Borough Council recently received a damning report from Ofsted for not doing enough to help struggling schools under its control. Will the Prime Minister tell us what the Government intend to do to ensure that systemically failing local education authorities such as Reading do not continue to ruin the life chances of our young people?

[The Prime Minister]

My hon. Friend is absolutely right to raise that. Frankly, one extra term in a failing school is too long for our children. In the past, Governments and LEAs have been too tolerant in allowing schools to continue to fail year after year, so this Government have set a very testing regime for failing schools and for those that are inadequate. As my right hon. Friend the Education Secretary set out this week, we will do similar things to schools that we would define as coasting and that could be doing better. We can now see the model of academy chains taking over a failing school, changing some of the leadership and putting in place the things that are necessary. We can see radical increases in the results, which is what we want. We will today talk about how we tackle poverty in the long term. Tackling sink schools and educational underachievement is vital to the life chances of our children.