(2 days, 23 hours ago)
Lords ChamberWe will hear from the Lib Dems next and then my noble friend Lord Grocott.
Lord Livermore (Lab)
I am grateful to the noble Baroness for her question and I pay tribute to her consistency on this matter. We share many similarities in our observations and analysis of the impact of Brexit. She will know that we are engaged in the EU reset, which will achieve substantial benefits for growth in the UK and for British citizens travelling around the European Union. I urge her to support the reset.
My noble friend, on this Question and a number of others that I have heard him reply on, demonstrates the passion that he feels for the European Union. It is a passion not shared by everyone. Some of us remember that the 40 years when we were in the European Union were not exactly flowing with milk and honey as far as the British economy was concerned.
My noble friend will notice the support he gets from the Liberal Democrat Benches.
Can I have my noble friend’s assurance that we stand very strongly by the Labour Government’s manifesto promise that there will be no question of us rejoining either the customs union or the single market?
Lord Livermore (Lab)
I am sure my noble friend and I agree on many things, but Brexit is not one of them. I hope that when he talks about our experience in the European Union he will acknowledge the OBR’s calculations that, had we remained in the European Union, by the end of this Parliament the economy would be £100 billion larger than it will be otherwise. That is a significant disbenefit of Brexit. As my noble friend knows, the manifesto stands.
(8 months, 3 weeks ago)
Lords ChamberThere is plenty of time for both noble Lords to ask a question. We will have the noble Lord, Lord Petitgas, first, and then my noble friend.
Lord Livermore (Lab)
I am very grateful to the noble Lord for passing on the feedback that he heard. I am assuming that he agrees with this Government’s policy on non-doms, since he was an adviser to the previous Government when they actually took our policy, implemented it, and scored £20 billion for it. So I am assuming that he approves of our policy and of the fact that we are raising that revenue. The changes that we are making to the system to make it simpler and more attractive to use are based on speaking to the relevant stakeholders and ensuring that they find it attractive to use. As I say, the system that we are implementing is actually more competitive than the system that it replaces.
Can I welcome very much my noble friend’s clear restatement of our commitment to this policy? It is right because it raises revenue, but it is also right in principle.
Lord Livermore (Lab)
I am very grateful to my noble friend for his comments. The Government are absolutely committed to addressing unfairness in the tax system so that everyone who makes their home in the UK pays their taxes here. It is absolutely right that we have the most competitive tax regime that we possibly can.