Oral Answers to Questions

Debate between Harriett Baldwin and Sajid Javid

Tuesday 18th January 2022 Commons Chamber

[Sajid Javid]

First, may I welcome the hon. Lady to her new position and wish her all the very best? She will have heard in a previous answer that social care and those who provide social care, which is such a vital act and such a vital service throughout our country, are receiving record amounts of support—£3.3 billion of extra financing since March 2020. Of course I would be more than happy to work with her and her colleagues to see whether there is more that we can do together.

[Harriett Baldwin (West Worcestershire) (Con)]

2. What steps his Department is taking to reduce the number of covid-19 hospital admissions.

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[The Secretary of State for Health and Social Care (Sajid Javid)]

We have developed a globally recognised programme that combines boosters, testing and antivirals to protect the vulnerable and to reduce hospital admissions. Our “Get Boosted Now” campaign led to a huge increase in vaccination rates and we have successfully procured the highest number of antivirals per head in Europe. We are also employing the use of remote monitoring technology to enable more patients to get the care that they need at home rather than having to be admitted into hospital.

[Harriett Baldwin]

Before omicron arrived there had been over 10 million positive cases in this country of covid-19, of which 14 in every 1,000 appeared to have been fatal. Since omicron arrived there have been a further 5 million cases, and it looks as though the fatality rate is about 10 times lower. Will the Secretary of State tell the House how important the “Get Boosted Now” programme has been in reducing hospitalisations and fatalities?

[Sajid Javid]

Yes, of course. The officials within my Department have carried out a wealth of analysis on case fatality rates in the vaccinated and unvaccinated populations. Recent data has shown that covid-19 case fatality rates for the over-80s are likely to be more than five times greater in the unvaccinated versus those who have had at least two doses.

My hon. Friend may be interested to know that, when I recently visited the intensive care unit dealing with covid patients in King’s College, the consultant in charge told me that he estimated that about 70% of his patients on that day were completely unvaccinated. It is clear, as we have seen especially in the past few weeks, that vaccinations save lives.

Covid-19 Update

Debate between Harriett Baldwin and Sajid Javid

Monday 6th December 2021 Commons Chamber

[Sajid Javid]

As each day goes by, we are getting a little bit more information, but I do think that by next week we will have more information, given the samples that have arrived at Porton Down and other labs across the world. However, I will caveat that by saying that I cannot give any guarantee about how much information we will have; I am sure that there will still be many unanswered questions at that point. As for masks, our rules are clear.

[Harriett Baldwin (West Worcestershire) (Con)]

I welcome the emphasis that the Secretary of State has put on vaccinations and boosters—not on locking down the economy—in his statement today. As a fellow Worcestershire MP, I wonder whether he is aware that in very rural parts of Worcestershire—for example, Tenbury Wells in west Worcestershire—it is on occasion a long way to travel to get a booster jab, and that home visits for people who have care at home can also be difficult to access. Will he suggest to the system that we put more emphasis on the rural delivery of booster jabs?

[Sajid Javid]

Yes, I can give my hon. Friend the reassurance that we are massively expanding the availability of vaccines. That process has already begun in the last week or so, with more pharmacies coming on board—many in rural areas and in the heart of communities—as well as more hospital hubs and vaccination centres. We are recruiting some 10,000 paid vaccinators to help us to do just that.

The Economy

Debate between Harriett Baldwin and Sajid Javid

Thursday 24th October 2019 Commons Chamber

[Sajid Javid]

I would think that, being a member of a party that is called the Labour party, the hon. Lady would understand that the best way out of poverty for anyone is a growing economy that creates jobs. Since 2010, there are over 1 million fewer workless households—a record low—there are 730,000 fewer children living in workless households, also a record low, and there are 50,000 fewer households where no member has ever worked.

[Harriett Baldwin (West Worcestershire) (Con)]

Will the Chancellor in his excellent speech also tell the House how much better off someone on low pay is, because, with the increases in the living wage and the increases in the tax-free threshold, households are taking home much more, particularly the lowest paid?

[Sajid Javid]

I am pleased that my hon. Friend has raised that, because it allows me to remind the House that since 2010, because of the actions that we have taken, including the rise in the minimum wage and tax cuts, the average person working full-time on the minimum wage is around £3,500 better off a year—that is because of actions we have taken.

Our relationship with the EU is a critically important factor affecting the UK economy, but it is of course not the only one. Unlike the Labour party, we will never talk down Britain’s economy. The shadow Chancellor has predicted a recession almost every year since we came into office, as he was doing just a moment ago—he does it all the time—but the underlying fundamentals of our economy are incredibly strong: nine years of growth; a healthy labour market with the lowest unemployment rate this country has seen in 45 years; low and stable inflation; and an attractive environment for foreign investment.

So I am optimistic about the future, but I am not complacent. We need to prepare our economy to seize the opportunities of leaving the EU, and that is why we are putting to the House the programme in this Queen’s Speech.

Banking

Debate between Harriett Baldwin and Sajid Javid

Wednesday 15th January 2014 Commons Chamber

[Harriett Baldwin (West Worcestershire) (Con)]

It is reported today that the Opposition are proposing specific market shares on specific banks. Has that ever been tried in any other country?

[Sajid Javid]

My hon. Friend is right. It is reported that, this Friday, the Leader of the Opposition will make a speech on the economy and attempt to set out an economic policy. I am afraid that his last such speech did not go very well. From what we know about this proposal—very little at this stage—I am not aware of any country in the developed world that has a similar approach, with the possible exception of the former Soviet Union, which adopted a similar approach to its banking sector.

Oral Answers to Questions

Debate between Harriett Baldwin and Sajid Javid

Tuesday 10th September 2013 Commons Chamber

[Sajid Javid]

It is interesting that the hon. Lady did not mention the Armitt review, which was set up by the shadow Chancellor. Perhaps it is because Mr Armitt concluded that there was an economic crisis when this Government took office and she does not want to draw attention to it. However, she will be reassured to know that the Government take infrastructure investment very seriously. It is a top priority, which is why public investment under this Government is higher in each year of this Parliament than under the previous Government’s plans, as well as being higher as a percentage of national income.

[Harriett Baldwin (West Worcestershire) (Con)]

A crucial part of our national infrastructure is broadband for the 21st century. Will the Minister join me in congratulating Worcestershire county council on its excellent plans to put 90% of homes and businesses on superfast broadband?

[Sajid Javid]

My hon. Friend is right to draw attention to what is a hugely important plan for the residents of Worcestershire, which includes my constituents in Bromsgrove. We are right to make that investment, because it will make a real difference.

Finance Bill

Debate between Harriett Baldwin and Sajid Javid

Tuesday 2nd July 2013 Commons Chamber

[Sajid Javid]

Amendments 17 to 29 make a number of technical changes to schedule 9 and clause 25 to ensure that the qualifying insurance policy regime works as intended. Let me set out some brief background to these changes. The qualifying policy regime was introduced in 1968 to preserve pre-existing tax treatment for traditional moderate value, long-term, regular premium savings policies that contain a significant element of life insurance.

No upper limit was set for the investment premiums that could be paid into a QP, which allowed individuals to obtain unlimited relief from higher rates of income tax. In the 2012 Budget, the Government announced a restriction to the tax relief available for QPs. Clause 25 and schedule 9 introduce an annual premium limit of £3,600 on qualifying life insurance policies. This restriction limits the amount of premiums payable into QPs for an individual to no more than £3,600 in any 12-month period, with effect from 6 April 2013.

This measure supports the Government’s objective of promoting fairness in the tax system by ensuring that tax reliefs for QPs are correctly targeted. Consultation since the Bill was introduced has continued and identified the need for Government amendments to clause 25 to deal with points of detail in 13 areas. None of these represents a change of policy; as I have said, they are technical adjustments to ensure that the rules operate effectively and as intended. The amendments have been discussed with industry representatives and have benefited from the comments received.

Let me briefly explain the amendments in slightly more detail. The purpose of the changes is to provide flexibility to deal with potential future exclusions from the non-assignment rule and potential future exclusions from the circumstances under which beneficiaries must make statements, to extend the period by which an individual must first make a statement and to clarify what information an insurer must provide and obtain from a policy beneficiary and what an insurer must provide to HMRC. In addition, a number of amendments make minor corrections or consequential changes to the more material changes that I have described.

If I may, Mr Deputy Speaker, I will speak to amendments 52 and 53, standing in the name of my hon. Friend the Member for West Worcestershire (Harriett Baldwin), at the end of the debate.

[Harriett Baldwin]

I rise to speak to amendments 52 and 53, standing in my name and the names of my hon. Friends the Members for City of Chester (Stephen Mosley) and for Finchley and Golders Green (Mike Freer).

I tabled these amendments to schedule 9 after being alerted recently to the consequences of the proposed changes to the life insurance qualifying policy regime for a small business in Malvern in my constituency, which is a market maker in traded endowment policies. The business provides a price at which it will both buy and sell an endowment policy, which creates welcome liquidity in these financial instruments. The firm has been recognised for its work with a Queen’s export award for industry.

The Association of Policy Market Makers estimates that the traded endowment policy market involves about 7,000 policies a year, out of the 20 million policies outstanding, and has a value estimated at approximately £150 million. The reasons why someone might want to sell an endowment policy vary. The most significant reason —accounting for 20%—is poor investment performance, although someone might be selling their house or trying to get some equity release. People sell endowment policies when they want to reduce their mortgage or improve their home—perhaps at retirement or when they lose their jobs, are bereaved or are getting divorced. Someone might want to buy a second-hand endowment policy to get a better rate of return than cash without a stock market risk. Endowment policies are also popular products with people with lump sums—such as victims of accidents who receive large payouts—because they have capital protection at maturity and tend to be priced to beat inflation.

The market is in natural decline, as endowment policies are no longer very popular and the existing 20 million policies have a finite end date. Nevertheless, there are thought to be seven such small businesses in the UK, employing about 200 people, including in the constituencies of my hon. Friends the Members for City of Chester and for Finchley and Golders Green. These firms worry that they will be put out of business by the change of tax treatment for these policies contained in schedule 9.

Royal Bank of Scotland

Debate between Harriett Baldwin and Sajid Javid

Thursday 13th June 2013 Commons Chamber

[Sajid Javid]

I do not know whether the hon. Gentleman was listening to the statement I made. If he was, he would realise that the RBS board made this decision.

[Harriett Baldwin (West Worcestershire) (Con)]

As the Minister knows, I think the sooner the Government get out of the banking business, the better. There has been a lot of discussion today about the price at which they should do that. What has the Minister been able to discover about the due diligence that was done on the price the Government paid to buy RBS shares in the first place?

[Sajid Javid]

My hon. Friend raises a good point, and it is actually quite easy to find out—although I do not think the previous Government wanted to advertise it, and nor do I think the current Opposition want us to continue highlighting it—that when RBS was bailed out, the then Government overpaid by over £12 billion and wrote that off at that time. They did the same in the interventions in Lloyds bank and Northern Rock, and, as we know, all this was a direct result of the previous Government’s failure to regulate our banking and financial system properly.

Oral Answers to Questions

Debate between Harriett Baldwin and Sajid Javid

Tuesday 12th March 2013 Commons Chamber

[Harriett Baldwin (West Worcestershire) (Con)]

My constituents find it much easier to take out a payday loan than to open a savings account. What steps are the Government taking to make it much more difficult for my constituents to fall into that sort of temptation?

[Sajid Javid]

My hon. Friend will know that the Government commissioned an independent report from Bristol university on the high interest lending industry. That report shows severe consumer detriment and we have already taken action. We announced last week that we will be working on advertising content and placement, and we will be giving extra powers to the Financial Conduct Authority to impose fines and to close down firms in the most significant cases. She may have seen that last week the Office of Fair Trading announced it is investigating a number of firms: it has told a number of payday firms that they have 12 weeks to shape up; otherwise it will take severe action.

Oral Answers to Questions

Debate between Harriett Baldwin and Sajid Javid

Tuesday 29th January 2013 Commons Chamber

[Sajid Javid]

The hon. Gentleman raises a very specific issue. I think he will understand that I have not looked at that particular concern of his constituent, but I will be happy to look at it in more detail if he provides me with more information.

[Harriett Baldwin (West Worcestershire) (Con)]

Can the Minister explain why, at a time when we are having to make such difficult decisions on public spending, it is fair to argue, as Labour does, that we should pay child benefit to millionaires?

[Sajid Javid]

My hon. Friend raises a very important point. In the 13 years of the previous Government, the welfare budget went up by 62% in real terms; it was out of control. If we are going to deal with the problem that they left behind, we have to make sure that everyone makes a contribution.

Oral Answers to Questions

Debate between Harriett Baldwin and Sajid Javid

Tuesday 6th November 2012 Commons Chamber

[Sajid Javid]

The hon. Gentleman will know that the Government have introduced a permanent tax on bank balance sheets, which will raise far more than a bank bonus tax. If he is interested in the fiscal action the Government are taking to create jobs, maybe he can tell his constituents about the brownfield allowance the Government introduced for North sea oilfields a couple of months ago. A few weeks later there was investment of £1.6 billion, creating up to 2,000 jobs in Scotland and beyond.

[Harriett Baldwin (West Worcestershire) (Con)]

One of the fiscal measures that best increases the incentive to find work for those who have been out of work for a long time is the benefit cap. Is the Minister surprised to learn that this morning a measure that will save the taxpayer half a billion pounds over the next two years and greatly increase the incentives to work was voted against by the Labour party?

[Sajid Javid]

I thank my hon. Friend for bringing that to the House’s attention, and I am not surprised to learn it, given Labour’s opposition to the benefit cap. The Government are determined to make the welfare system work in order to help people find employment, and that includes the benefit cap as well as the introduction of universal credit.

Oral Answers to Questions

Debate between Harriett Baldwin and Sajid Javid

Monday 28th November 2011 Commons Chamber

[Sajid Javid (Bromsgrove) (Con)]

7. What steps he is taking to ensure that individuals are able to build up pension pots under automatic enrolment.

[Harriett Baldwin (West Worcestershire) (Con)]

10. What steps he is taking to ensure that individuals are able to build up pension pots under automatic enrolment.