The Economy and Work

Alan Mak Excerpts

Thursday 26th May 2016 Commons Chamber

[Mr Alan Mak (Havant) (Con)]

It is a great pleasure to follow the hon. Member for Bootle (Peter Dowd).

I welcome the Queen’s Speech because it builds upon the Government’s already strong progress over the past six years and gets Britain fit for the future. For example, on jobs, since 2010 and during the course of this Parliament, employment is set to rise by 3 million, which is a huge achievement. In Havant the number of people on jobseeker’s allowance has more than halved since 2010.

I welcome the Gracious Speech not only because it strengthens Britain’s economy today, but because it prepares our economy for tomorrow by equipping the country to lead in what is becoming known as the fourth industrial revolution, helping to create jobs and strengthen economic growth. The first industrial revolution used steam power to mechanise production, the second used electricity to create mass production, and the third used information technology to create the internet and launch the digital revolution. Now a fourth industrial revolution builds on the third, characterised by a fusion of technologies that blurs the lines between the physical, the digital and the biological.

At the core of this fourth industrial revolution are advances such as high-quality manufacturing, robotics, the new digital economy and life sciences. The fourth industrial revolution is a systematic shift that will transform the world’s economy in the decades ahead, and it is because of this Queen’s Speech that Britain’s economy and workforce are set to play a leading role.

I therefore welcome the digital economy Bill, which will give Britain world-class digital infrastructure. People in Havant and across the country will benefit from the new broadband universal service obligation, which will, for the first time, enshrine in law a right to the fast broadband connections that underpin every aspect of the digital economy and modern life.

Just as Britain pioneered the steam train and the jet engine, we are poised to be leaders in the next generation of transport innovations. I welcome the modern transport Bill, which places the UK at the forefront of new technologies, such as driverless cars. It shows investors that we in Britain are committed to transport innovation and the many jobs that will be created by it.

If we in Britain are to lead the fourth industrial revolution, to create jobs and to grow our economy, we cannot just sit back and watch this revolution pass us by. We have to give our businesses and communities the tools to strengthen our economy and to create those much-valued jobs up and down the country, in constituencies represented on both sides of the House. That is what I believe this Queen’s Speech does. It deserves the support of the House, and I will be voting for it in the Lobby this evening.

Oral Answers to Questions

Alan Mak Excerpts

Tuesday 19th April 2016 Commons Chamber

[Harriett Baldwin]

I encourage the hon. Lady to seek an Adjournment debate to elaborate further on her question. I am sure that she and her constituents will welcome the fact that employment in the north-west is at the highest level on record; that more than 89,000 businesses in the north-west will not pay business rates; and that 360,000 people in the north-west will now benefit from the living wage.

[Mr Alan Mak (Havant) (Con)]

British exports to China have more than doubled since 2010, led by Havant-based manufacturers such as Colt and Lewmar. Will the Minister join me in congratulating those businesses, and will she encourage others to follow their lead by supporting and maintaining the Government’s pro-export policies?

[Harriett Baldwin]

It is wonderful to hear during Export Week about Colt and Lewmar, and their fantastic work exporting overseas. It is a key priority of the Government to continue to encourage more firms to export. In fact, we have ambitious aims to have another 100,000 businesses exporting over the life of this Parliament.

--- Later in debate ---

[The Exchequer Secretary to the Treasury (Damian Hinds)]

As we covered earlier, the tariff system in place to encourage renewable energy has to deliver a balanced portfolio of energy, and it does so. Of course, we encourage energy firms always to pass price cuts that they benefit from on to their customers.

[Mr Alan Mak (Havant) (Con)]

T9. All 31 local firms that have reached the final of my Havant small business awards will benefit from the Government’s corporation tax cut. Will the Chancellor join me in congratulating all the finalists and confirm that the Government will continue to support small businesses across the country?

[Mr Osborne]

I join my hon. Friend, who is such an excellent voice for Havant in this Parliament, in congratulating the small businesses in the Havant constituency. They are thriving, and we are helping them with major improvements to roads and infrastructure in the area.

Budget Resolutions and Economic Situation

Alan Mak Excerpts

Wednesday 16th March 2016 Commons Chamber

[Mr Alan Mak (Havant) (Con)]

I support this Budget. It puts the next generation first, it gets Britain fit for the future and it protects our economy against the numerous economic headwinds in the global economy. It is a Budget that is good for Britain and that is good for the Havant constituency.

This Chancellor has presided over the fastest-growing economy in the developed world. The deficit has been cut by two thirds and we have low and stable inflation and interest rates, and record employment. In my constituency, the number of jobseeker’s allowance claimants has fallen by over 50% since 2010. To put it simply, the long-term economic plan is working in this country.

Those strong fundamentals are all the more important in a world where the economic headwinds are facing our country. Asia faces a slowdown, the eurozone suffers from systemic weaknesses and the middle east and north Africa still face elements of turmoil. Those are real and credible threats to our economy, and this Chancellor has presided over a resilient, strong and growing economy.

But at the heart of our economy are not just numbers and statistics, important though they are. What is at the heart of our economic success story since 2010 is people—hard-working individuals, families, entrepreneurs, savers, strivers; all the great people we see in the towns, villages and cities represented across this House. All those groups are helped by the Budget. I particularly welcome the rise in the tax-free personal allowance to £11,500 by April 2017. That is a tax cut for 31 million hard-working people and helps them keep more of the money that they work hard to earn and save.

The higher rate threshold for income tax is also rising to £45,000, which will mean that middle-income earners in the Havant constituency and across the country will benefit. It is actually a £400 tax cut for those taxpayers. I also welcome the fact that fuel duty is frozen for the sixth year in a row, and as Members know from the Chancellor’s speech, that is a £270 duty cut for every business and a £75 cut for every driver. That will help the manufacturing businesses, the drivers and the hauliers in my constituency, at Langstone technology park, at New Lane and beyond.

Havant is also home to a wide range of small businesses and entrepreneurs—self-made people, who are the backbone of our local economy. Whether those people are in Hayling, Havant, Emsworth, Bedhampton or any other part of the Havant constituency, the small business reforms in this Budget will help them to make a more secure and prosperous future for themselves.

I declare an interest and refer the House to my entry in the Register of Members’ Financial Interests as the founder of two small businesses. I am a passionate supporter of small businesses, both in my constituency and across the country. For that reason, for example, I launched the first-ever Havant small business awards, and I welcome the support that Ministers have given me in doing that.

Small businesses in my constituency and self-employed people in Havant and across the country will benefit from the reforms announced by the Chancellor today. I particularly welcome the fact that corporation tax will be cut to 17%. That will support massive job creation both in my constituency and across the country. I welcome also the permanent doubling of the small business rate relief and the increase in the maximum threshold for relief. That means that 600,000 small business across the country will no longer pay any business rates at all. That is a welcome move for our economy at a critical time in our recovery. I welcome the abolition of national insurance for self-employed people. That is a £130 tax cut for the 3 million self-employed people across our enterprise nation in my constituency and beyond.

All the measures that I have mentioned and all those announced by the Chancellor this afternoon will help to attract new businesses to the Havant constituency. We are very lucky to be going through a period of rapid regeneration in Havant and I look forward to welcoming new businesses to Market Parade, Dunsbury Hill Farm, the Solent retail park and Langstone technology park. All those areas of strong economic activity will be booming as a result of the Chancellor’s Budget today.

Not only will the measures announced in the Budget help my constituency, but they will help this Government reach one of their major targets, which is to get our country into the top five in the world for doing business. We are already up to sixth place in the world in the World Bank’s ease of doing business index and in second place in the global innovation index, ahead of our major competitors, Germany, France, Japan, Australia and all the other countries that we are running against in the global race for success. Today’s Budget is welcome for small businesses, the self-employed and our country in the global race for success.

Finally, I draw the attention of the House to the measures in the Budget that help young people. This Budget truly puts the next generation first. I wish to highlight three measures in particular—first, the lifetime ISA, which will encourage a new generation of savers. As hon. Members will have heard in the Chancellor’s speech, for every £4 that a young saver under 40 deposits in a bank, the Government will top that up with another £1. That is good news for savers under 40, whether they are new graduates, apprentices, young professionals, young entrepreneurs or anyone who has just started a family. That will be a welcome top-up, helping to boost our savings culture across the Havant constituency and across the country.

Secondly, I welcome the Chancellor’s commitment to fairer school funding. Hampshire has traditionally been an underfunded local authority. I look forward to responding to the Government’s consultation. Many of the schools in Havant have received good Ofsted ratings in the past year, such as Purbrook Park School, Havant College, Havant Academy and Crookhorn College. Those schools will be helped by the increase in funding and I look forward to working with the Government to ensure that we get our fair share in Hampshire. The increased funding for schools in Havant will mean that social mobility is increased. As we run the global race for success, the most important thing we can do for our young people is give them a fantastic education. In the global race for success we cannot afford to leave behind the talents of any young person, and I am delighted that the increased funding that we will receive in Havant for our schools will help our young people achieve their potential.

Finally, I welcome the sugar levy. Before I came to this place, I had the pleasure of being involved as a trustee of one of Britain’s leading school breakfast club charities. I know that the hon. Member for Ilford North (Wes Streeting), who is no longer in his place, has supported the same charity. Together we have been working with some of Britain’s most deprived communities to try to tackle the obesity issues that some of those communities face. I look forward to the sugar levy playing a role in that. Encouraging more school sport and healthier lifestyles for young people is one of the benefits of this Budget.

In conclusion, this is a Budget that has strengthened Britain’s prosperity economy and boosted Britain’s opportunity society, helping our country get fit for the future. Because of those tough decisions that the Chancellor has taken, we have strong public finances, a growing economy and an entrepreneurial mindset. These Budget measures reinforce the success that this country has achieved since 2010. I particularly welcome, as I mentioned, the tax cuts, the lifetime ISA and the fairer school funding for Havant and other communities. I therefore join other hon. Members and the Chancellor in commending this Budget to the House.

Enterprise Bill [Lords]

Alan Mak Excerpts

Wednesday 9th March 2016 Commons Chamber

[Jonathan Reynolds (Stalybridge and Hyde) (Lab/Co-op)]

Thank you, Mr Speaker. I will certainly endeavour to do so.

I rise in support of the amendment in the name of the hon. Member for Enfield, Southgate (Mr Burrowes), to which I have added my name, as have many other hon. Members on both sides of the House. I am completely opposed to any changes to Sunday trading regulations, whether it is their extension or their devolution to local councils. I am sceptical of what benefits, if any, it would bring to our economy but, more importantly, my concern lies with retail workers and my desire to keep Sunday special.

As a Greater Manchester MP, I am a huge supporter of devolution, particularly to a city as great as ours. However, to me the measure does not feel like beneficial devolution; rather, it feels like a dishonest manoeuvre from a Government who seem obsessed with introducing the policy even though there appears to be no public demand for it. I also have concerns about how the Government have gone about the process, in particular their flawed consultation, which I will address.

I am happy to declare an interest, in that I am an USDAW-sponsored MP, which I am particularly proud of. USDAW has led from the front in this campaign, representing the concerns of ordinary retail workers and ensuring that their voice is heard.

Lots of good, strong arguments were put forward in the excellent speech from the hon. Member for Enfield, Southgate. I, too, intend to focus my speech on the family and faith aspects of Sundays but, first, I want to express my serious concerns about how the Government have gone about attempting to introduce the change. I believe it is at best mischievous and at worst a borderline fantasy when the Government say that the Bill in itself will not enact any changes to Sunday trading regulations, but leave that open to local councils to decide. They know as well as all hon. Members do that the measure will result in extended opening hours on Sundays. As soon as one council does it, neighbouring councils will soon fall, one after another, until extended hours are uniform.

[Mr Alan Mak (Havant) (Con)]

Will the hon. Gentleman give way?

[Jonathan Reynolds]

I will not give way because of the time constraints.

The Government should stop insulting the intelligence of the House and treat the clause as what it is: an explicit attempt to extend Sunday trading hours. I believe that devolution should be used to give councils the powers that they want and need. It should not be a way for the Government to abdicate responsibility for changes that they do not want to be blamed for, when they feel that the changes they intend to make will be unpopular and controversial. If the Government want to extend Sunday trading regulations, they should have the courage to introduce explicit legislation, so that Members of the House can have a proper debate and scrutinise the proposals. Instead, the Government have chosen to hide behind the veneer of devolution.

--- Later in debate ---

[Brandon Lewis]

I will take some interventions in a moment. If Members vote against amendment 1, as I am asking them to do, I will make sure that we have a pilot scheme that runs over 12 months, which will give us further evidence, so that we can come back to this House for full scrutiny, a debate and a vote.

[Mr Mak]

Does the Minister agree that another point of reassurance to hon. Members across the House is the fact that contained in the Government’s Bill are zoning provisions, which allow local authorities to choose the areas that will benefit from enhanced Sunday trading laws? That is a fair compromise.

[Brandon Lewis]

My hon. Friend is absolutely right. There is in the Bill an ability to zone. Local areas that want to carry out a pilot will be able to specify exactly how they want to do it and what that zone will look like. This scheme is all about absolutely trusting local people to do what they know is right for their area. By doing it this way, there is no need for amendment 1. Our intention is to increase freedom, protect shopworkers’ rights, grow our economy, and protect our high streets while devolving power from Whitehall to town halls. We want to see power devolving to local areas, because they know their economies and their high streets best and they want this power to see their economies grow.

Oral Answers to Questions

Alan Mak Excerpts

Tuesday 1st March 2016 Commons Chamber

[Mr Alan Mak (Havant) (Con)]

About 40,000 people in my constituency have benefited from the rise in the personal allowance since 2010. Can the Chancellor confirm that the Government will continue to help hard-working people to keep more of the money that they earn?

[Mr Osborne]

That is absolutely what the Government were elected to deliver. We have manifesto commitments to deliver not just the £50,000 threshold for the higher rate, but a £12,500 personal allowance, so that more people can see the benefit of either paying no tax if they are low paid, or paying less tax if they are better paid.

Bank of England and Financial Services Bill [Lords]

Alan Mak Excerpts

Monday 1st February 2016 Commons Chamber

[Mr Alan Mak (Havant) (Con)]

I am pleased to speak in support of this important Bill, which delivers a new settlement for the financial services sector—a vital sector of the UK economy—by strengthening the Bank of England and the regulatory regime governing individuals working in the sector. In particular, the Bill deserves support because it puts the Bank of England at the centre of a new regulatory system that will give it new powers, more responsibilities and better procedures. It will also strengthen the Bank’s governance, transparency and accountability and increase the accountability of staff working in our important financial services sector.

When the idea of a Bank of England first emerged after William and Mary came to the throne in 1688, the public finances were in disarray, the system of money and credit was weak and our financial markets were on the verge of collapse. Things were not much better 320 years later, however, under a Labour Government, who oversaw a banking system that had become too concentrated, took too many risks, and acted against taxpayers’ interests. It was under the discredited tripartite system that people such as Fred Goodwin were allowed to receive huge bonuses while running their banks into the ground.

Today our financial services sector is much stronger, and it requires the up-to-date effective governance and regulation that the Bill proposes. According to TheCityUK trade body, the financial services sector employs 7% of the UK workforce—two-thirds of whom are outside London—and accounts for 12% of our GDP. It is absolutely right that this Bill should support a growing and moral financial services sector.

I support clause 1, which will make the deputy governor for markets and banking a member of the Bank of England’s court. Following the expansion of the Bank’s responsibilities through the Financial Services Act 2012, a fourth deputy governor, with responsibility for markets and banking, was appointed and given responsibility for reshaping the Bank’s balance sheet. This important role, currently filled by Dame Minouche Shafik, does not have statutory membership of the court. Clause 1 will rectify that situation and ensure equal status for the fourth deputy governor. It will also give the Government the necessary flexibility to update the membership of the court, the Financial Policy Committee, the MPC and the new Prudential Regulation Committee. This will ensure flexibility to meet future need, and that the court is fit for purpose.

When the Bank opened for business in 1694 in temporary accommodation in the Mercers Hall in Cheapside, it had a staff of 17 clerks and two gatekeepers. Today its personnel is much wider, and none are more important than the members of the court. That is why I welcome the reforms in clause 1. It will update the powers of the court and increase its flexibility to ensure that new expertise is added when necessary. These are practical powers and they deserve the support of the entire House. I also welcome the reforms to the Oversight Committee, the Financial Policy Committee and the Monetary Policy Committee that my right hon. Friend the Member for Chichester (Mr Tyrie), who is no longer in his place, articulately outlined.

A key element of the Bill is the transformation of the Prudential Regulatory Authority into the Prudential Regulation Committee. As Members will know, the PRA is responsible for the supervision of around 1,700 banks, building societies, credit unions and major investment firms. The transition will result in the PRA, a subsidiary of the Bank of England, becoming the PRC, a committee of the Bank. This will ensure that it is fully integrated into the Bank’s work while retaining its operational independence. This measure deserves the support of all hon. Members—[Interruption.]—including those on the Opposition Front Bench. This will continue the process of building a unified institution, which will allow the new authority to focus more closely on its policy work, rather than thinking about back-office issues such as IT procurement.

[Rob Marris (Wolverhampton South West) (Lab)]

Is there anything in the Bill that the hon. Gentleman does not like?

[Mr Mak]

I am sure that the hon. Gentleman will agree that the proposals support the Governor’s “one mission, one bank” strategy, which entails supervision being conducted in a more effective and efficient way, as befits an institution of our modern global economy. The new arrangements come with important safeguards. For example, the statutory objectives of the PRA will remain undiminished; the name and the brand will remain unchanged; and its reputation for tough regulation will remain undimmed.

On financial services, the Minister mentioned earlier that one of the least attractive elements of Labour’s financial crisis was that no one at the top of the main financial services institutions faced formal punishment from the regulators or the courts. There appeared to be no link between the actions of those at the top and the fate of the institutions that they led. One of the FCA’s reports stated that

“individual accountability was often unclear or confused”.

The Bill strengthens and clarifies the individual accountability of those working in our systemically important financial services sector. I also believe that these reforms will embed a new culture within the sector, rather than simply reshaping the legal and regulatory framework.

Before I entered this House, I had the privilege of working with TheCityUK and a number of others working in the financial services sector on writing a report entitled the “Next Generation Vision for Financial Services”. It asked that our financial services sector be a part of society, not apart from society. I am pleased that the reforms set out in this Bill, in the clauses that I mentioned, will help our sector to get closer to the vision we articulated.

I particularly welcome the extension of the senior managers certification regime to all regulated firms, not just to deposit takers. The expansion of the regime to all financial services firms and all staff will enhance the culture of personal responsibility for senior managers, while, we hope, increasing the accountability of other staff who work in our financial services sector. It will also ensure that as the sector expands the regulation and the laws governing its operation increase to match the scope and size of the industry. Many firms beyond the banking sector, from investment firms and insurers to those involved in the so-called “shadow banking” sector, can pose a threat to financial stability, and it is therefore right to include them in this new regime.

In conclusion, the growth of the financial services sector, in both size and complexity, the globalisation of our economy and Labour’s financial crisis mean that the governance, functions and powers of the Bank of England need to be updated. So, too, does the regime that governs the individuals who work within our financial services sector. This Bill achieves both goals, ensuring a Bank of England that is fit for purpose: an effective central bank in a growing 21st century economy sitting at the heart of the world’s most successful financial services industry. The Bill deserves the support of the whole House.

Small Businesses: Tax Reporting

Alan Mak Excerpts

Monday 25th January 2016 Westminster Hall

[Oliver Dowden]

There is an issue, but the Government have said in their response to the petition that they will consider it. I hope for clarification on the question of the speed of broadband connection—businesses in my and many other constituencies rely on fast broadband, so for it not to be in place makes things difficult—and on the broader point about ensuring that small businesspeople who fill out tax returns have sufficient skills to do so. I also hope for reassurance from the Minister about a training programme and other online resources to enable small businesses to have those skills.

Despite what the Government have said in their response to the petition, the proposals announced in the autumn statement raise a number of issues, some of which have already been mentioned in the debate. I, too, will address such matters before other Members have the opportunity to examine them in more detail.

The Petitions Committee recently undertook a public consultation via Twitter, and I thank the Clerks for their hard work, which made it possible. Unbelievably, in 24 hours we received 1,285 tweets from 565 contributors, all of which can be seen by searching #HOCpetitions. The responses reflect concerns also expressed to me by the Federation of Small Businesses. I will briefly address some of those concerns.

The proposed measures, as I understand the situation, form part of the Government’s “Making tax digital” proposals, which most people agree is the right direction of travel. An end to bureaucratic form filling and associated unnecessary complications, and full access to digital accounts, all of which are promised in “Making tax digital”, would certainly be welcome. I commend the Government for their commitment to that agenda.

As we all know, however, the path to new Government initiatives, in particular those involving new IT, rarely runs smoothly, and we only have to think back to the introduction of tax credits or to the Rural Payments Agency under the previous Government for the evidence. I therefore urge the Minister to proceed with caution.

I note from the Government response to the petition that there will be consultation throughout 2016 and voluntary introduction before full phasing in by 2020. Many people are concerned that users should be fully consulted and systems properly tested before full roll-out. Furthermore, the system should be properly secure.

[Mr Alan Mak (Havant) (Con)]

I thank my hon. Friend for securing the debate. I draw the House’s attention to my entry in the Register of Members’ Financial Interests: I am the founder of two small businesses. He rightly said that the Government should ensure positive digital competency in respect of businesses being asked to participate in the scheme, but is he also aware that more than 99% of VAT returns are filed online? A high percentage of HMRC documents are already filed online, which should give the Government great confidence when they roll out the reforms.

[Oliver Dowden]

That is an important point. While there are questions to raise, it is important not to get carried away. The overall direction of Government travel is towards having a digital system for tax returns, and I hope that Members agree that that is the right thing to do. The questions are about the speed and pace of roll-out and appropriate consultation.

The difference between VAT and what is contemplated here is that VAT returns have a threshold, so the very smallest businesses do not fill them out, but they will do so in this case. That is an argument for caution. Another concern raised by petitioners is the nature and financial cost of digital reporting. It would therefore be helpful if the Government gave greater clarity on the scale, cost and nature of the information to be provided. Estimates suggest that businesses already pay on average £3,600 a year to ensure that they are compliant with their tax and regulatory obligations and we, as a Government, must take away from that, not add to it. Surely, that is the measure of any successful tax reform. It is therefore vital that the net effect of the measure is to reduce, not add to, that regulatory burden.

HMRC and Google (Settlement)

Alan Mak Excerpts

Monday 25th January 2016 Commons Chamber

[Mr Gauke]

There has been a shift in public opinion in recent years, and the pressure on companies to pay the tax that is due under the law is greater than ever before. I welcome that, and I welcome that change in public opinion, but it is the measures taken by this Government that mean that we are getting additional sums from large companies, as has been demonstrated in the past couple of days.

[Mr Alan Mak (Havant) (Con)]

Following the successful Google settlement, will the Minister confirm that the Government will continue to work with our international partners and organisations such as the OECD to continue taking a lead to ensure that our tax laws are complied with—action that Labour failed to take over 13 years?

[Mr Gauke]

My hon. Friend makes an important point. It was very much the Prime Minister who got the OECD and the G20 to focus on how multinational companies are taxed. It is right that we did that and that we are making progress, and I am pleased that this is coming to fruition.

Oral Answers to Questions

Alan Mak Excerpts

Tuesday 19th January 2016 Commons Chamber

[Harriett Baldwin]

I will take that as a Budget submission.

[Mr Alan Mak (Havant) (Con)]

7. What fiscal steps he is taking to support businesses.

[Andrew Rosindell (Romford) (Con)]

11. What fiscal steps he is taking to support small business owners.

[The First Secretary of State and Chancellor of the Exchequer (Mr George Osborne)]

The Government are backing businesses by cutting their taxes. We have given Britain the lowest corporate tax rate in the G20, and we are cutting it further. To support small businesses, the employment allowance will rise by 50% in April, and we are doubling small business rate relief. This Government understand that we create jobs and raise money for public services by backing companies, not by punishing them with the kind of anti-business, anti-enterprise nonsense that we hear from the Labour party.

[Mr Mak]

Manufacturers in my constituency, such as Innova Design, are growing, thanks to the rise in investment allowance tax relief which takes effect this month. Will the Chancellor join me in congratulating Innova Design on its growth and success, and will he also continue to support the British manufacturing sector, an industry that was neglected by Labour for 13 years?

[Mr Osborne]

Absolutely. I join my hon. Friend in congratulating Innova Design on the work that it is doing. We are investing in transport infrastructure on the south coast, and we are also backing companies—not just there, but around the country—with a permanent annual allowance of £200,000, which is the highest that it has ever been.

Oral Answers to Questions

Alan Mak Excerpts

Wednesday 9th December 2015 Commons Chamber

[Mr Osborne]

The hon. Lady mentions the tragic bombing of the hospital. A review is going on to ensure that the coalition has accurate information for its strikes. When it comes to Yemen, we are working with the Saudi Government to make sure that they can review this information and that it is accurate. I am afraid we have no control over the Syrian Government and Assad, which is one of the reasons we would like to see Assad go.

[Mr Alan Mak (Havant) (Con)]

Q15. The regeneration of Dunsbury Hill Farm in my constituency will create up to 3,500 new jobs, which is good news for an area where unemployment has halved since 2010. Will the Chancellor commit to continuing investment in the Solent regional economy, an area that much prefers his big Red Book to any other type?

[Mr Osborne]

I am delighted to hear about the regeneration of Dunsbury Hill Farm. It is part of the good news in my hon. Friend’s area, where, thanks to local businesses and to his work as a new MP in attracting infrastructure and investment into his constituency, the claimant count is down by 25% in the past year alone. I am glad he likes the Red Book of the Government and does not have so much time for the little red book brandished by Opposition Members.