Economy and Jobs

Debate between Lord Hammond of Runnymede and Robert Jenrick

Thursday 29th June 2017 Commons Chamber

[Mr Hammond]

I say to the hon. Lady: please read the letter that my right hon. Friend the Minister for Women and Equalities has sent out. We will be giving additional funding to her Department so that she can make a grant to the external organisations that will provide those services. I think that the hon. Lady will be satisfied when she has read the letter and understood the details. If she is not, I will be happy to meet her.

[Robert Jenrick (Newark) (Con)]

Will the Chancellor make one further clarification, because there seemed to be some misinformation during the general election campaign? On tax avoidance, which Government have passed more than 50 measures, taken the base erosion and profit shifting process forward, published one of the world’s first public registers of beneficial ownership and reduced the tax gap to the lowest level in living memory? And which previous Government did precisely nothing?

[Mr Hammond]

My hon. Friend makes a good point. The shadow Chancellor likes to talk about tax avoidance, but the Labour Government did nothing to deal with it—[Interruption.] Well, let me phrase it differently for the right hon. Member for East Ham (Stephen Timms), who takes offence at that. He was a member of that Government, and they left £150 billion on the table. That is how much we have taken through clamping down on tax avoidance and evasion—[Interruption.] And before the shadow Chancellor stands up, I will tell him—he did not know the answer—that under the last Labour Government, the main rate of capital gains tax was 18%. Under this Conservative Government, it is 20%, with a 28% rate on residential property and hedge fund managers.

Class 4 National Insurance Contributions

Debate between Lord Hammond of Runnymede and Robert Jenrick

Wednesday 15th March 2017 Commons Chamber

[Mr Hammond]

I think I have made my position quite clear. I have distinguished between the two issues. On the substance of the issue, it is absolutely right to address the discrepancy, which is no longer justified by the difference in access to benefits. However, it is also right that we accept the wider interpretation of the manifesto commitment that my hon. Friends have expressed to me. That is why we have said that we will continue to review the issue in the round and will come back to Parliament with our decisions arising from the review, but we will not increase national insurance contributions in this Parliament.

[Robert Jenrick (Newark) (Con)]

My constituents, almost a quarter of whom are self-employed, will welcome the decision today, but they also find it extraordinary when they read in the papers that the chief executive of their local hospital trust is paid £400,000 a year through a personal service company—a practice, incidentally, that got completely out of control under the last Labour Government. Will my right hon. Friend the Chancellor continue to tackle those issues, particularly in the public sector?

[Mr Hammond]

I empathise enormously with the self-employed of my hon. Friend’s constituency. He will know that I once lived among them. I sympathise with the point he has raised about public sector employees using personal service companies, but he will know that we have legislated so that, from next April, public sector engagers of people who use personal service companies will be responsible for deducting the tax and national insurance contributions that those people would be paying if they were employed directly as employees.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Robert Jenrick

Tuesday 28th February 2017 Commons Chamber

[Mr Hammond]

I do not recognise the numbers the hon. Lady has given the House, but I will look at them and write to her accordingly.

[Robert Jenrick (Newark) (Con)]

Estate agents report that the number of transactions of so-called “prime properties” in London and elsewhere fell by 50% last year and that at the beginning of this year the situation is even worse than it was the year before. If it were proven that tax revenues had fallen as a result of policy, would the Chancellor be willing to review and change it?

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Robert Jenrick

Tuesday 17th January 2017 Commons Chamber

[Mr Hammond]

Yes. The Bank of England makes regular assessments of the impact of changes in interest rates—that is a central part of the modelling work that it does. The hon. Gentleman is absolutely right that one of the drivers of the relatively high household debt levels in this country is our housing model, with relatively high percentages of home ownership.

[Robert Jenrick (Newark) (Con)]

The Governor of the Bank of England has identified that two of the most serious challenges to the economy today are levels of household debt and the falling pound. Both of those are made worse by the widespread belief among the general public that interest rates are not going to go up. What more can the Government and the Governor of the Bank of England do to signal to the public that interest rates will rise, and not fall, in the near future?

[Mr Hammond]

That is not a matter for the Government, because, as my hon. Friend knows very well, interest rates are a matter for the Monetary Policy Committee of the Bank of England, and it is up to the Governor and individual members of the Monetary Policy Committee to signal as they see fit.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Robert Jenrick

Tuesday 25th October 2016 Commons Chamber

[Robert Jenrick (Newark) (Con)]

Mr Speaker, you will have seen the latest Office for National Statistics survey that found that Newark is the happiest place in mainland Britain. However, what is testing the people of Newark is the appalling state of their local roads. Will the Chancellor do another favour for Newark, and in his autumn statement bring forward the new Newark northern bypass?

[Mr Philip Hammond]

As a former resident of my hon. Friend’s constituency, I am delighted to acknowledge that it is the happiest place in Britain. Certainly some of my happiest times and memories are of living there. As I said earlier, we are currently in the process of receiving submissions from hon. Members across the House, and I would be very happy to receive a written submission from my hon. Friend.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Robert Jenrick

Tuesday 19th July 2016 Commons Chamber

[Mr Hammond]

I have no plans at the moment to reverse the spending plans set out by my predecessor. Any such plans will be announced in the autumn statement. I would say to the hon. Lady, however, that Scotland now has devolved taxation and spending powers and can consider addressing the balance within its own competence.

[Robert Jenrick (Newark) (Con)]

T5. The Chancellor got his first job in my constituency, so it is a pleasure to welcome him to his latest job. The borough of Rushcliffe has now produced two excellent Chancellors of the Exchequer. In truth, however, Britain has not had a Chancellor since Nigel Lawson who has taken tax simplification seriously. As we prepare the economy for Brexit, will my right hon. Friend make it one of his priorities and consider, in the eight months before the next Budget, creating a commission on tax simplification?

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Robert Jenrick

Tuesday 24th May 2016 Commons Chamber

[Mr Hammond]

It is a matter of grave concern. The polarisation of views in Israel/Palestine makes it less likely that we shall be able to achieve the two-state solution that the House and most of the world so ardently crave, and harder for us to do so.

[Robert Jenrick (Newark) (Con)]

In answer to a written parliamentary question from me, the Economic Secretary to the Treasury reported that on 16 January £657 million of frozen Iranian assets had been unfrozen, and therefore returned to Iran or Iranian citizens. What are the Government doing to monitor those funds and ensure that they are spent correctly, rather than being handed over to terrorists or funding action against British troops?

[Mr Hammond]

My hon. Friend asks two separate questions. First, we are committed to the unfreezing of Iranian assets. Some who were opposed to the joint comprehensive plan of action—JCPOA—agreement with Iran suggested that up to $150 billion would flow back to Iran in short order, but to date we think that the process has managed to achieve about $11 billion. Secondly, there are of course international agreements in place to monitor and prevent money laundering and the financing of terrorist organisations, and those apply to Iran as much as to any other country.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Robert Jenrick

Tuesday 23rd February 2016 Commons Chamber

[Mr Philip Hammond]

Uncertainty always has a cost to business. Business hates uncertainty, and the markets will reflect it. That is why it is right to hold the referendum at the earliest possible date—23 June—and settle this issue once and for all so that Britain can get on with Britain’s business.

[Robert Jenrick (Newark) (Con)]

When I canvass the streets of Newark for the local elections, people ask me about the views of my local councillors on refuse collection or on potholes on Newark’s roads. I rarely hear them ask me their views on foreign policy. Does my right hon. Friend agree that foreign policy is set by the Foreign Secretary and by the Government and should be debated in this House—not by our town halls—so we should all support the Government’s action against boycotts and sanctions?

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Robert Jenrick

Tuesday 20th October 2015 Commons Chamber

[Mr Hammond]

I spoke informally to the Russian Foreign Minister when we were together in New York for the UN General Assembly at the end of last month. That was the last time that I discussed the situation with the Russians.

[Robert Jenrick (Newark) (Con)]

T6. Since September there has been a worrying resurgence in intercommunal fighting in the Central African Republic after the reported beheading of a young Muslim taxi driver. Hundreds of people have been killed and thousands displaced, and there is now genuine concern that the conflict will descend into genocide, and worse. Will my right hon. Friend reassure the House that the British Government are providing political and humanitarian support to the President of the Central African Republic?

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Robert Jenrick

Monday 14th July 2014 Commons Chamber

[Mr Philip Hammond]

I do not know who writes this stuff, but what has happened is very simple. We have got the defence budget under control. We have set up the armed forces committee, which comprises the chiefs of the individual services, and we have allowed them to set the priorities for requirements in the military equipment programme. As headroom becomes available, we accept their advice on the urgent priorities. They have identified a package of intelligence, surveillance, target acquisition and reconnaissance measures, which they consider now to be the highest priority for defence expenditure, and that is what we have announced today.

[Robert Jenrick (Newark) (Con)]

T3. British defence exporters, such as GDT in Newark, can take their stands at Farnborough today with renewed confidence as a growing part of our economy. GDT grew by 10% last year and the sector by 11%. What steps are the Government taking proactively with companies like GDT to ensure that this success continues?