Elfyn Llwyd
Main Page: Elfyn Llwyd (Plaid Cymru - Dwyfor Meirionnydd)Department Debates - View all Elfyn Llwyd's debates with the Cabinet Office
(13 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Jones
Yes, my hon. Friend is entirely right. The private sector is the key to future growth in Wales, which is why yesterday’s Budget announced a major package of corporation tax reform that is aimed at making Britain—and, of course, Wales—one of the most competitive parts of the G20. In particular, the exemption of up to £5,000 of employer national insurance contributions for each of the first 10 employees, which applies outside London and the south-east, will be of benefit to Wales.
Mr Elfyn Llwyd (Dwyfor Meirionnydd) (PC)
May I associate myself with the condolences expressed to the family of the late Lord Walker and also congratulate the right hon. Lady and the hon. Gentleman on their appointment to their posts?
Yesterday, there was a recognition by the Government of the need to grow economies outside the south-east of England. We have argued long and hard about the overheating of the south-east and its cost to the north of England and Wales. Will the Minister consider the idea of either regionalising corporation tax according to gross value added or devolving it altogether to the Welsh Assembly so that the needs of business can be met and real support provided for it?
Mr Jones
I am glad to hear that the hon. Gentleman welcomes the announcements in yesterday’s Budget. The announcement of the exemption of up to £5,000 of national insurance contributions for new employment outside London and the south-east will certainly be of benefit; to that extent, it is a major departure, which I am sure that the entire House will welcome.