Tax Avoidance (HSBC)

Debate between Alec Shelbrooke and George Osborne

Monday 23rd February 2015 Commons Chamber

[Mr Osborne]

As I have explained, HMRC received in April 2010 the disc that had all the information on individual bank accounts. It then set about investigating all those individuals and bringing those prosecutions. We have known—[Interruption.] The shadow Chief Secretary to the Treasury says that we have known this for five years. We have known for five years that there was egregious tax evasion 10 years ago under the Labour Government. We have put the resources into pursuing that, collecting the money and passing the international agreements to ensure that it never happens again in our country.

[Alec Shelbrooke (Elmet and Rothwell) (Con)]

Will my right hon. Friend clarify what he believes to be the difference between tax avoidance and tax efficiency?

[Mr Osborne]

As I said earlier, tax evasion is illegal. Aggressive tax avoidance is something that we are taking enormous steps to prevent. We have passed laws and introduced the general anti-abuse rule to ensure that we are collecting a fair amount of taxation from our population.

Charter for Budget Responsibility

Debate between Alec Shelbrooke and George Osborne

Tuesday 13th January 2015 Commons Chamber

[Mr Osborne]

You cannot trust the Labour party with people’s money. Every Labour Government leads this country into bankruptcy. Every Labour Government left office with unemployment higher than when it came to office. That is what Labour does when it gets into office. People remember that and they will not trust them with the public finances again. We remember what Labour said was going to happen to jobs: they said that 1 million jobs would be lost. Instead, we have 1.7 million more people in work. Unemployment is falling. Youth unemployment is down by more than half. Full employment is in sight. They said that public services would be decimated and crime would rise. Crime has fallen and satisfaction with local government services is up. They said that the north of England would suffer the most, just as it had suffered the most in their great recession. Now, the fastest growing part of our economy is the north of England and we are building that northern powerhouse.

[Alec Shelbrooke (Elmet and Rothwell) (Con)]

I wonder if my right hon. Friend, during his busy schedule, was able to notice the comment of the Labour leader of Leeds city council, who said that he has to hand it to George Osborne because he is doing more in the north of England than a Labour Government ever did.

[Mr Osborne]

There has been a constructive alliance between Labour civic leaders in the north of England and Conservatives to bring an elected mayor to Greater Manchester and deliver High Speed 2. We have done so in the face of the opposition of the Labour shadow Chancellor, who has tried to frustrate all these things all along. Thankfully, Labour civic leaders are not listening to those on their own Front Bench anymore.

Although the deficit has been halved, at 5% of our national income, it is too high. Our national debt, at 80% of our national income, is too high.

Autumn Statement

Debate between Alec Shelbrooke and George Osborne

Wednesday 5th December 2012 Commons Chamber

[Mr Osborne]

We have announced new entitlements on child care, such as the entitlement for two-year-olds from more disadvantaged families to nursery places, which did not exist under the previous Government. We are also working on new proposals on child care, and I hope in the first half of next year to bring those forward.

[Alec Shelbrooke (Elmet and Rothwell) (Con)]

May I warmly welcome my right hon. Friend’s announcement on personal allowances and say how proud I am to be part of a Government who have halved the income tax on the lowest earners in our society? Which does he think represents the true one nation politician: those who in difficult times have halved the income tax on the lowest earners or those who during the boom times doubled it?

[Mr Osborne]

I suspect Benjamin Disraeli was considerably better at the Dispatch Box than the shadow Chancellor, too. My hon. Friend is absolutely right to say that we have taken decisions to help the working poor, through taking them out of income tax and through the personal allowance increase for 24 million people. Whether Conservative or Liberal Democrat in this Government, we can be absolutely proud of the decision we have taken on the personal allowance in these very difficult times.

Professional Standards in the Banking Industry

Debate between Alec Shelbrooke and George Osborne

Thursday 5th July 2012 Commons Chamber

[Mr Osborne]

I will take one more intervention and then move on.

[Alec Shelbrooke (Elmet and Rothwell) (Con)]

Would my right hon. Friend like to speculate on why the Opposition may want the review to be pushed back? He might like to comment on the fact that at that time, the shadow Chancellor was the City Minister, the shadow Chief Secretary to the Treasury worked at the Bank of England and the Leader of the Opposition was ducking mobile phones in No. 10.

[Mr Osborne]

Of course, part of the Opposition’s problem is that they cannot admit their mistakes in office.

The Economy

Debate between Alec Shelbrooke and George Osborne

Wednesday 22nd June 2011 Commons Chamber

[Alec Shelbrooke (Elmet and Rothwell) (Con)]

Does my right hon. Friend agree that it says everything that we need to know about the Opposition’s economic policy when the shadow Chancellor’s immediate reaction to the IMF report was, “They don’t know what they’re talking about”?

[Mr Osborne]

It went beyond that—my hon. Friend makes a good point—not only did the shadow Chancellor attack the IMF, but he also attacked in the speech that I have just mentioned the IMF’s acting managing director. So he laid into the Governor of the Bank of England a couple of months ago, and he is now laying into the IMF’s acting managing director. Anyone who disagrees with the shadow Chancellor, which means most of the world, has become his political opponent.

--- Later in debate ---

[Mr Osborne]

This is a debate about the economy. We all enjoyed reading those papers in The Daily Telegraph.

To get the better economy that we all want to see requires the three things that this Government have provided—

[Alec Shelbrooke]

Is it not also telling that after the Opposition have spent a year banging on about the American model and what the Americans were doing, we heard nothing today about the fact that President Obama had to introduce austerity measures because his massive input of billions into the economy did nothing except raise unemployment and increase the deficit?

[Mr Osborne]

The interesting thing is that in the United States the debate in the Congress has turned to discussions about the US budget deficit. The proposal from President Obama in his speech at George Washington university bears some striking similarities to the British Government’s plan, and is similar in pace, scale and composition between tax and spending measures. It shows that this is the discussion that the world is having, but it is not a discussion of which the shadow Chancellor is a part.

Financial Assistance (Ireland)

Debate between Alec Shelbrooke and George Osborne

Monday 22nd November 2010 Commons Chamber

[Mr Osborne]

The fact that we export more to Ireland than to Brazil, Russia, India or China is a statement of the interconnectedness of the Irish and UK economies, but also an indictment of our exports to the fast-emerging BRIC countries, which is precisely why, since taking office, the Prime Minister has led major trade delegations to India and China, and why we want to ensure that companies in Macclesfield and throughout the country can export more to those fast-emerging new markets.

[Alec Shelbrooke (Elmet and Rothwell) (Con)]

The Chancellor has been asked whether he has a smidgen of regret about his comments on the Irish economy, but does he not find it more incredible that the Opposition still believe that we should join the euro after the devastation that it brought to a thriving Irish economy?

[Mr Osborne]

As I have said, it is for the Opposition to speak to their own policy. As I understand it, they are still committed in principle to joining the euro—

Oral Answers to Questions

Debate between Alec Shelbrooke and George Osborne

Tuesday 16th November 2010 Commons Chamber

[Mr Osborne]

I would say to them what I would say to everyone in this country: that we inherited the largest fiscal—[Interruption.] Well, I do not know how many times Opposition Members have to hear this but it is the truth. They left us the largest Budget deficit in the G20 and the European Union at a time of heightened sovereign debt concern. They can either be part of the debate that the rest of world is taking part in on how to deal with the deficits or they can completely ignore that debate and become irrelevant.

[Alec Shelbrooke (Elmet and Rothwell) (Con)]

Does the Chancellor agree that he should ignore the advice of the Opposition on all matters fiscal relating to the European Union, because it is still their policy to join the euro and because their MEPs voted to double our contribution this year?

[Mr Osborne]

As you will remind me, Mr Speaker, I cannot speak for the policy of the Opposition or say whether they have changed their official position which is to support joining the euro, but I make it clear to my hon. Friends and others that we certainly will not join the euro while this Chancellor and this Prime Minister are in place.

Comprehensive Spending Review

Debate between Alec Shelbrooke and George Osborne

Wednesday 20th October 2010 Commons Chamber

[Mr Osborne]

I do not have the exact number to hand, but I shall give it to the hon. Gentleman this afternoon. We are funding the project as it was set out. I know the chief executive of Halton borough council because he used to be the chief executive of my local borough council. I have discussed it with him and I hope to have further discussions to ensure that the bridge is built and that the private investment linked to the bridge comes in. I shall give the hon. Gentleman the exact number later today.

[Alec Shelbrooke (Elmet and Rothwell) (Con)]

May I thank the Chancellor for taking the decision to give to Equitable Life more than three times the amount that was recommended in the Chadwick report? Will he describe to the House and to my constituents what settlement he thinks that the Equitable Life policyholders might have got if the Opposition were still in government?

[Mr Osborne]

We know the answer to that because they had 13 years to address the problem and gave absolutely nothing. They then set up Sir John Chadwick’s report and, although I thank him for it, I do not agree with its conclusions. I strongly suspect that if Labour had won the election, they would have agreed with his conclusions, which would have meant just a third of the money that I have set out today for Equitable Life policyholders. We are helping policyholders across the piece, but our particular priority has been the trapped annuitants, whom we will fully compensate.

Oral Answers to Questions

Debate between Alec Shelbrooke and George Osborne

Tuesday 8th June 2010 Commons Chamber

[Mr Osborne]

There does seem to be collective amnesia on the Labour Benches. They were in government for 13 years, they ran up the largest budget deficit in the European Union and they handed over office to us after an election in the middle of a eurozone crisis. The threat to the British economy is what will happen if we do not deal with this budget deficit. Let me say to the hon. Gentleman and all Labour Members that until they have their own proposals to deal with the problem that they have bequeathed the new Government, they are not going to be taken seriously.

[Alec Shelbrooke (Elmet and Rothwell) (Con)]

I ask my right hon. Friend the Chancellor to outline to the House exactly what not tackling the deficit would mean for my constituents in Elmet and Rothwell and for their mortgages.

[Mr Osborne]

Unfortunately, my hon. Friend would have to tell his constituents that interest rates would start to rise and international investor confidence would be lost. Today, one of the credit rating agencies has published a report that makes the observation that the UK’s deficit reduction plan is particularly weak. That is the situation that we have inherited, and we are going to put it right.