"Can I say how good it is to see the Chancellor channelling his inner Nigel Lawson by referencing not only the big bang, but his attempt to get the next big bang to happen, particularly with supply-side reforms for five key STEM—science, technology, engineering and maths— sectors, plus the much-needed …..." John Penrose - View Speech
"I congratulate my right hon. Friend on securing this debate on an important issue, and he is making a powerful speech. I was particularly interested in his point about broadening the duty from brewers across to the wider sector. In particular, the cider sector is important in the west country. …..." John Penrose - View Speech
"5. What assessment he has made of the effects of high marginal deduction rates on work incentives for people who are (a) key workers, (b) on below average incomes and (c) on above average incomes. ..." John Penrose - View Speech
"I thank my right hon. and learned Friend for her kind comments. The changes that she has just re-announced are extremely welcome. With energy and food prices continuing to spiral, does the Treasury team accept that they will soon have to go even further? Do they agree that compared with …..." John Penrose - View Speech
"T6. In his last Budget, the Chancellor slashed universal credit withdrawal rates, delivering an 8% tax cut for the least well off, but as I explained in “Poverty Trapped”, the combined deductions from income tax and benefits withdrawals often still top 70% for the lowest-paid. If tax rates above 45% …..." John Penrose - View Speech
"I thank the Chancellor for an extremely welcome package, which is the latest step in a series of strong reactions to different crises throughout the pandemic and today. He also mentioned improving investment in North sea gas fields, which is very welcome. It is only a temporary set of solutions, …..." John Penrose - View Speech
"I welcome the scale, scope and ambition of the impressive list of intentions that began the Minister’s statement. May I press him on one point, which he mentioned later on? It is a shared point between my report on competition policy, which he kindly mentioned, and the TIGRR report, which …..." John Penrose - View Speech
"I welcome the appointment of Lord Geidt and also the modest increase in the terms of reference to increase his independence. Do my right hon. Friends accept that it is possible still for us to go a little further to increase the degree of independence of Lord Geidt and his …..." John Penrose - View Speech
"I welcome the Chancellor’s continuing commitment to sound money. It is particularly easy to forget, in a year when we have just seen an 11.3% cut in the size of the economy, that ultimately, all the money that we are borrowing must eventually be paid back by us as taxpayers. …..." John Penrose - View Speech
"Like the hon. Lady, I have had letters and emails from people in similar situations, and I am sure everyone here has a great deal of sympathy. She mentioned the importance of maintaining jobs that are going to be viable after this is all over, but one of the things …..." John Penrose - View Speech