Oral Answers to Questions
Debate between Lord Hammond of Runnymede and Stuart C McDonald(7 years, 3 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Stuart C. McDonald (Cumbernauld, Kilsyth and Kirkintilloch East) (SNP)
The International Monetary Fund yesterday highlighted widening inequality and stagnation as key drivers of social dislocation, while the Institute for Fiscal Studies has recently warned of the biggest pay squeeze in the UK for 70 years. What is the Chancellor’s strategy to ensure that growth in our economy benefits everybody?
Mr Philip Hammond
Income inequality has been falling, but of course we face challenges as the depreciation of sterling works its way into inflation in the economy. That is an issue on which we will remain very much focused, and I will address it in more detail in the Budget.
Autumn Statement
Debate between Lord Hammond of Runnymede and Stuart C McDonald(7 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Hammond
Yes. I am not sure how much influence I will have over the Northern Ireland Executive, but next time I bump into a Member of it, I shall make that very point.
Stuart C. McDonald (Cumbernauld, Kilsyth and Kirkintilloch East) (SNP)
According to the OBR, the fall in immigration following the referendum will cost the Chancellor £16 billion over five years. Surely he should be a brave and enthusiastic champion of free movement of people, with his next-door neighbour.
Mr Hammond
The Prime Minister has made it clear that we have to accept not only the decision of the British people to leave the European Union, but that clearly implied in that decision is a desire for control over movement across our borders. That is not the same as cutting ourselves off from Europe, or turning our backs on Europe, but there has to be control of the flow of people into the United Kingdom. The challenge, therefore, is to get a deal that effectively allows our businesses and workers to sell their products into Europe, and European businesses and workers to sell their products into the UK, while still meeting the political mandate that we have received from the British people.