Panama Papers

Debate between Lord Cameron of Chipping Norton and Oliver Dowden

Monday 11th April 2016 Commons Chamber

[The Prime Minister]

That is a very good question. Let me answer it in full, because I think it is very important. Do I think it is okay to own shares in a unit trust that is registered in another country, whether it is in Dublin, Guernsey or elsewhere? Yes, I do. That is why trade unions, companies and pension funds hold such shares. Many people in our country hold unit trusts because—here is the key point—the unit trust does not exist to make money for itself; it makes money for the unit holders, and if the unit holders live in Britain they pay British tax, British income tax, British capital gains tax and all the rest of it. That is why these arrangements have been in place for many years and no Labour Government, Labour policy review or Conservative policy review has ever thought of getting rid of them. It is important that they are administered and run in the proper way. That is my answer to the hon. Lady’s first question.

The hon. Lady’s second question was why, if I thought there was nothing wrong with a holding like that, did I sell my shares because there might be a conflict of interest. I sold shares in every company that I owned, because I thought there were two options: you can either put things into a blind trust, as Ministers in Labour and Conservative Governments have done. There is nothing wrong with that—it is a very good way to go about it—but I thought it may be even simpler and more straightforward to just sell everything, because then I would not own any shares. So, if any of the companies in which I had previously had a shareholding had any dealings with the Government, there was no way that, even if somebody could look inside a blind trust, they could find any conflict of interest. That is why I sold the shares. I happen to think it was quite a sensible thing to do.

[Oliver Dowden (Hertsmere) (Con)]

Will the Prime Minister confirm that the only irregular thing about the summary of his tax return is the fact that he voluntarily and privately forsook the £20,000 prime ministerial tax-free allowance, which was enjoyed by many of his predecessors, including those from the Labour party? Instead, he rightly focused on increasing the personal allowance so that millions of low-income earners could avoid paying tax altogether. Will he pledge to continue that policy?

[The Prime Minister]

I am very glad to give my hon. Friend that reassurance. We have the target in our manifesto of a £12,500 personal tax allowance and we want to meet that. What I did as Prime Minister was the right thing, not least because, as it says in the information from my tax return, there is support for me and my wife from the Conservative party in terms of some of the costs and issues of travel and other things that you have to deal with as the leader of a party. I thought that was a better way of doing it—not taxpayers’ money, but party money, on which I pay a tax charge.

Oral Answers to Questions

Debate between Lord Cameron of Chipping Norton and Oliver Dowden

Wednesday 13th January 2016 Commons Chamber

[The Prime Minister]

The first thing I would say to Linda is that we are cutting social rents in this Parliament, so she will be paying less in rent. The second thing I would say, if she is concerned about the spare room subsidy, is that of course it is not paid by pensioners, which is a point that the right hon. Gentleman failed to make. Another thing I would say to Linda, and to all those who are in council houses or housing association homes, is “We believe in giving you the chance to buy your own home, and are helping you to do that.”

Is it not interesting what this exchange has shown? We now have a Labour party whose housing policy does not support home ownership, just as its defence policy does not believe in defence, and just as we now have a Labour party that does not believe in work and a Labour leader who does not believe in Britain.

[Oliver Dowden (Hertsmere) (Con)]

Q5. As someone who grew up in social housing, I welcome the Prime Minister’s commitment to tearing down poor-quality, soulless high-rise estates and replacing them with affordable homes. Will he seize this opportunity to make sure that those new homes are attractive, well-designed places in which people will want to live for generations to come?

[The Prime Minister]

My hon. Friend is absolutely right. If Labour wanted to have a constructive opinion, they would come along and say, “How can we help knock down these sink estates, rebuild new houses, help people to own their own homes?” That is what we want to do, and that is what we are going to see in this Parliament: one side committed to opportunity, life chances, helping people get on, and another side wanting to keep people trapped in poverty.

Oral Answers to Questions

Debate between Lord Cameron of Chipping Norton and Oliver Dowden

Wednesday 16th December 2015 Commons Chamber

[The Prime Minister]

I always find it hard to satisfy the hon. Gentleman: he joined the Conservative party when we were not committed to a referendum and he left the Conservative party after we committed to a referendum, so I am not surprised that he is giving his new boss as much trouble as he used to give me. With that, I wish them both a very festive Christmas.

[Oliver Dowden (Hertsmere) (Con)]

Q15. The triumphant “Star Wars” saga began life at Elstree studios in my constituency, which continues to produce hits such as “The King’s Speech” and “Suffragette”—[Interruption.] Order. The hon. Gentleman is banging on very eloquently about “Star Wars” and I want to hear him. Will the Prime Minister join me in pledging support for our thriving British film industry, which makes such a valuable social, cultural and economic contribution in Hertsmere and across the United Kingdom?

[The Prime Minister]

My hon. Friend raises an important point. This film is not only very exciting for children—I have to say that quite a lot of parents are looking forward to it, too—but it was made in Britain, with many British actors and some brilliant British technicians, showing the strength of the British film industry. I would say this, but it is also backed by the British Government and British taxpayers with the excellent resources we provide. As I have worked with my hon. Friend for so many years and in so many different ways, I know that he will never join the dark side.

Syria: Refugees and Counter-terrorism

Debate between Lord Cameron of Chipping Norton and Oliver Dowden

Monday 7th September 2015 Commons Chamber

[The Prime Minister]

I will look carefully at what the hon. Gentleman says. Obviously, what the Republic of Ireland does is a matter for the Republic of Ireland, if it wants to opt in to the relocation system. I am pretty confident that 20,000 refugees coming into Britain is, and will be seen to be by other European countries, a generous and compassionate offer that will help to take the pressure off other European countries.

[Oliver Dowden (Hertsmere) (Con)]

I welcome the Prime Minister’s willingness to use the aid budget for exactly what it was intended to achieve—helping people in crisis right now. Will he ensure that as the aid budget, thanks to our strong economy, continues to grow, he retains the flexibility to use it for similar crises in the future?

[The Prime Minister]

My hon. Friend is absolutely right. The aid budget is there to help the most vulnerable, the weak and the poorest in our world, and that should include the first-year costs of people to whom our country is giving refuge and asylum. Yes, we will go on making sure—this will be part of the spending review—that the aid budget addresses some of the causes of instability and insecurity in our world, because that is a way of stopping some of these problems before they happen.