Oral Answers to Questions
Debate between Andrew Stephenson and Kevin Hollinrake(4 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Kevin Hollinrake (Thirsk and Malton) (Con)
Google turns around over £10 billion in the UK, making a typical profit margin of 22%, so it should pay about £420 million in corporation tax, yet it pays only about £70 million due to profit shifting. Will my right hon. Friend do all he can to press for international action to end this kind of disgraceful tax avoidance?
Andrew Stephenson
The UK is a world leader on tax compliance, with one of the lowest tax gaps in the world. The UK was a major sponsor of the OECD’s base erosion and profit shifting project and has adopted many of the recommendations. The Government also introduced the diverted profits tax, which came into effect on 1 April 2015 and counters the contrived arrangements used by some multinationals to divert profits from the UK.
British Steel
Debate between Andrew Stephenson and Kevin Hollinrake(4 years, 11 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
This information is provided by Parallel Parliament and does not comprise part of the offical record
Andrew Stephenson
British Steel has been clear that Members of this House should vote for the deal, which I have voted for three times. All Members should reflect on the real-world impacts of the decisions that we make in this place, or the lack thereof, on businesses and the people we represent.
Kevin Hollinrake (Thirsk and Malton) (Con)
The Minister is right to consider jobs at risk, particularly when they relate to what are hopefully relatively short-term Brexit uncertainties, but to be fair Greybull did buy the business after the referendum and therefore might have expected some volatility ahead. Will the Minister confirm to the House that if he decides to support the business, it will be an isolated case, rather than an ongoing policy of supporting failing businesses?
Andrew Stephenson
All support that is provided for businesses has to be compliant with UK domestic law and EU law. It has to pass various commerciality tests to be legal and compliant with state aid rules. We always stand ready to work with UK businesses to protect UK interests and jobs, but any support that we provide has to be legal.