HMRC Impact Analysis: Customs Debate

Full Debate: Read Full Debate
Department: HM Treasury

HMRC Impact Analysis: Customs

David Hanson Excerpts
Tuesday 8th October 2019

(11 months, 4 weeks ago)

Commons Chamber
Read Full debate Read Hansard Text
HM Treasury
Jesse Norman Portrait Jesse Norman - Hansard

I gently remind the hon. Gentleman that the burdens that he claims will be placed by this can not only be mitigated by voting for a deal but will be as nothing compared with the burdens that will be imposed on the UK economy by a Labour Government dedicated to nationalising, without full compensation, a swathe of industries and expropriating a large number of people by transferring property into the hands of employees. I think those things will impose much greater costs on the economy than anything that has been contemplated today.

David Hanson (Delyn) (Lab) Parliament Live - Hansard
8 Oct 2019, 12:09 p.m.

The Minister is on a sticky wicket, and deep down, he knows it. After the Prime Minister’s announcement today, it will get even stickier. I am still not clear whether he expects businesses to absorb the £7.5 billion of costs or pass it on to consumers.

Jesse Norman Portrait Jesse Norman - Hansard

In the event that we had no deal and this £7.5 billion of estimated costs were incurred, that it was not mitigated and that there were no behavioural reactions by businesses, there would be some costs—we do not know what they would be—and it would be up to businesses to decide how those costs should be allocated between consumers, employees and other stakeholders.