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Written Question
Corporation Tax
Thursday 7th July 2022

Asked by: Bob Stewart (Conservative - Beckenham)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect of the OECD's global minimum corporation tax proposals on costs for UK businesses.

Answered by Lucy Frazer

The OECD’s Two Pillar Solution to the process of digitalisation represents a major reform of the international tax framework and will help to ensure multinational businesses pay their fair share, with the right companies paying the right amount of tax in the right place.

Both Pillars 1 and 2 will be subject to the standard tax policymaking process, with their impacts formally assessed through the OBR forecast process.

Speech in Commons Chamber - Thu 18 Nov 2021
Critical Benchmarks (References and Administrators’ Liability) Bill [Lords]

"I thank my very good friend the Minister for allowing me to intervene. He understands all this, and I understand some of it, but not much. I speak, however, as someone who is concerned. If we are moving away from LIBOR, is such a move likely to result in a …..."
Bob Stewart - View Speech

View all Bob Stewart (Con - Beckenham) contributions to the debate on: Critical Benchmarks (References and Administrators’ Liability) Bill [Lords]
Speech in Commons Chamber - Thu 18 Nov 2021
Critical Benchmarks (References and Administrators’ Liability) Bill [Lords]

"Forgive me for intervening yet again, but, for the normal person, does synthetic LIBOR and 12 basis points mean a 12% increase on what he or she might pay?..."
Bob Stewart - View Speech

View all Bob Stewart (Con - Beckenham) contributions to the debate on: Critical Benchmarks (References and Administrators’ Liability) Bill [Lords]
Speech in Commons Chamber - Wed 01 Jul 2020
Finance Bill

"I thank my good and hon. Friend for allowing me to speak. This confuses me. I would have thought that very clever tax inspectors could visit these international companies. Surely these companies cannot disguise the money that they are sending out of the country. Surely we have methods of checking …..."
Bob Stewart - View Speech

View all Bob Stewart (Con - Beckenham) contributions to the debate on: Finance Bill
Speech in Commons Chamber - Wed 01 Jul 2020
Finance Bill

"I thought it was Napoleon who said we were a nation of shopkeepers—or perhaps it was Hitler. It was one of those people. I am not sure it was the hon. Gentleman’s mum or dad, or uncle...."
Bob Stewart - View Speech

View all Bob Stewart (Con - Beckenham) contributions to the debate on: Finance Bill
Speech in Commons Chamber - Thu 19 Mar 2020
Loan Charge 2019: Sir Amyas Morse Review

"It might be dangerous to intervene here, but I am quite sure that a lot of these financial analysts and chartered accounts honestly thought they were doing the right thing and everything was legal. They acted in good faith. I do not suppose that all of them were slightly dodgy...."
Bob Stewart - View Speech

View all Bob Stewart (Con - Beckenham) contributions to the debate on: Loan Charge 2019: Sir Amyas Morse Review
Speech in Commons Chamber - Thu 19 Mar 2020
Loan Charge 2019: Sir Amyas Morse Review

"My constituents just do not have any extra money—they have used it all up each year. After 2010, they were continually told by financial experts and the companies they were contracted to, “All is well—carry on.” Suddenly in 2017, they faced a massive bill, and they just cannot cope...."
Bob Stewart - View Speech

View all Bob Stewart (Con - Beckenham) contributions to the debate on: Loan Charge 2019: Sir Amyas Morse Review
Speech in Commons Chamber - Thu 19 Mar 2020
Loan Charge 2019: Sir Amyas Morse Review

"When the right hon. Gentleman took evidence from people who are subject to the loan charge, did he receive any evidence to the effect that their chartered accountants or financial analysts since 2010 had told them—the people they were being paid by—that they were in real danger and had better …..."
Bob Stewart - View Speech

View all Bob Stewart (Con - Beckenham) contributions to the debate on: Loan Charge 2019: Sir Amyas Morse Review
Speech in Commons Chamber - Thu 19 Mar 2020
Loan Charge 2019: Sir Amyas Morse Review

"In 2018, when a group of constituents first came to my surgery to complain about their treatment by HMRC, I was not particularly sympathetic—they were talking about loan schemes, of course. After all, why should a group of people use schemes to pay less tax than the rest of us? …..."
Bob Stewart - View Speech

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Speech in Commons Chamber - Thu 19 Mar 2020
Coronavirus: Employment Support

"I have had a lot of emails on this subject, so may I ask the Minister again how the Government are going to support freelancers and the self-employed? They are desperately worried...."
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