Future Relationship with the EU

Stephen Metcalfe Excerpts
Tuesday 9th June 2020

(3 years, 11 months ago)

Commons Chamber
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Penny Mordaunt Portrait Penny Mordaunt
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We are very aware of the backdrop against which these negotiations are taking place. Hon. Members will not have long to wait before they learn more about border operations, but in many of the areas that the hon. Gentleman mentions, we have made progress, and that progress is in the public domain. In other areas, we are simply asking for a reciprocal relationship for things that we currently do for other nations.

Stephen Metcalfe Portrait Stephen Metcalfe (South Basildon and East Thurrock) (Con) [V]
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As we begin to recover from the coronavirus, while a deal would be very welcome, does my right hon. Friend agree that the UK needs as much flexibility as possible to help rebuild our economy and communities, and that remaining bound by EU law during this time would not allow us to do that?

Penny Mordaunt Portrait Penny Mordaunt
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My hon. Friend is absolutely right; we have left the EU. At the end of this year, we will be a fully independent and sovereign nation. Our interests are best served by having that flexibility with rest-of-the-world trade and with the choices we make about our trading arrangements with others, as well as the EU. That is the basis of our negotiating position and it is one that we will hold to.

The Economy

Stephen Metcalfe Excerpts
Monday 27th April 2020

(4 years ago)

Commons Chamber
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Rishi Sunak Portrait Rishi Sunak
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At this point, it is very difficult to make changes to the operation of these schemes; that would just delay further payment. For those workers who have fluctuating wages—for example, those on zero-hours contracts—we have provided employers and employees with the ability to take either the most recent time period and look at that over a year before, if they were seasonal, or to take an average of their earnings over a period, to ensure that they are not inadvertently penalised by a shorter period of lower earnings. I think that that does provide flexibility and generosity to those who do not have fixed amounts of work.

Stephen Metcalfe Portrait Stephen Metcalfe (South Basildon and East Thurrock) (Con) [V]
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I thank the Chancellor for all he is doing to protect jobs and income at this really difficult time, and especially the introduction of the job retention scheme. However, he will be aware that many companies do not initiate a payroll run until the end of the month. This means that new starters in early March were paid for work they did in March but were then laid off because they are unable to access the furlough scheme. Will he review that and consider other evidence of employment?

Rishi Sunak Portrait Rishi Sunak
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When we announced the job retention scheme, I said that it would apply to those who were known to HMRC on 28 February. That was how the scheme was designed and set up. Over the last few weeks, we have moved that date to 19 March, which brings an extra few hundred thousand people into it and means that overall, just shy of 30 million people in employment are able to benefit from the furlough scheme. It is an extraordinary achievement for the team in HMRC to have conceived that in this short space of time.

Loan Charge 2019: Sir Amyas Morse Review

Stephen Metcalfe Excerpts
Thursday 19th March 2020

(4 years, 1 month ago)

Commons Chamber
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Stephen Metcalfe Portrait Stephen Metcalfe (South Basildon and East Thurrock) (Con)
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I, too, congratulate my right hon. Friend the Member for Haltemprice and Howden (Mr Davis) and others on securing this important debate, and thank the Backbench Business Committee for allocating the time. It may not be the most pressing issue that we are facing at the moment, but it does address the deeply held concerns of constituents caught up in this injustice; and I say “injustice” because I truly believe that that is what it is.

This debate is to look at the Morse review, which did have some welcome outcomes, but I do not believe for one minute that it went far enough. I believe that everyone has a duty and an obligation to pay their fair share of tax, and that anyone who evades tax should rightly be sought out and made to pay. But that is not what we are dealing with here. In many of these cases, we are dealing with ordinary people who were either forced or persuaded into schemes that they were advised were perfectly legitimate and approved by HMRC. And there lies the problem. By way of example, I will share with the House an account of one of my constituents who is caught up in this situation and is facing a bill for tens of thousands of pounds, and potential financial ruin. I know that the Government and HMRC have said that that will not be the outcome, but after looking at the details of his case, I assure the House that it would be.

My constituent is an intelligent individual, but by no means a tax expert. When he gave up his job in 2011, deciding to work freelance so that he could get a better work-life balance, he was advised to join a freelancer scheme—a scheme that was established and promoted by an ICAEW-regulated chartered accountant. The promotional literature unambiguously stated that the accountant’s scheme was

“anodyne, with no tax avoidance motive (HMRC words) involved”,

“legal and compliant” and

“supported by tax counsel’s opinion ”.

At no point did the chartered accountant mention any known or future possible risks, either verbally or in writing.

The chartered accountant simply positioned my constituent’s use of the scheme—through which he would receive a combination of salary and loans—as perfectly legal and an “effective tax planning tool”. That said, in mid-2012, having noted some adverse media coverage of the subject of tax avoidance, my constituent sought confirmation from the promoter that the scheme remained truly “anodyne”, as had been stated when he joined it. The promoter’s response was unequivocal—that nothing had changed.

Later in 2012, a copy of an HMRC letter addressed to the promoter and dated 20 June 2012 was forwarded to my constituent in validation of the chartered accountant’s previous assurances that the scheme was legitimate. The letter confirmed that for the purposes of mandatory disclosure under disclosure of tax avoidance schemes legislation, HMRC’s anti-avoidance group had formally reviewed the scheme and determined that it could apply no “hallmarks” of tax avoidance. Therefore, and of critical significance, HMRC stated that the scheme was “not disclosable”.

The unambiguous contents of HMRC’s letter gave my constituent absolutely no reason other than to conclude that its anti-avoidance group had undertaken a full, diligent review of the scheme and that, in the absence of any adverse findings, he could continue to use the scheme safely. But even then, as a cautious person, my constituent sought further confirmation from the promoter and was again reassured. Why would he not carry on using a scheme when he has sought so many reassurances? I restate: if HMRC had even the slightest concerns about the scheme’ legitimacy and/or my constituent’s use of it, its failure to openly communicate such concerns denied my constituent the clear and obvious opportunity to immediately depart the scheme in mid-2012.

As it is, HMRC notified my constituent in late 2013 that it had opened a formal section 9A inquiry into his use of the scheme, at which point he immediately ceased to use it. Regardless of that, to this day, more than six years after that section 9A inquiry into my constituent’s use of the scheme was launched, it remains open, and he has yet to receive any technical argument from HMRC as to why it considers the scheme unlawful.

It is very clear to me that HMRC sees the loan charge as a panacea for its historical and obvious failures. It is attempting to bypass my constituent’s basic right as a taxpayer to have a court rule on any alleged additional liability. We have heard from countless hon. and right hon. Members, and from esteemed independent tax practitioners, that HMRC must at the very least be forced to desist from using the loan charge to drive through these retrospective, unproven and ordinarily out-of-time claims, which predate the enactment of the Finance Act 2017.

I strongly agree with that viewpoint and feel that it would be undeniably unfair and entirely unreasonable to pursue people from before that date. Therefore, in the light of the uncertainties caused by the current situation with coronavirus and its effect on freelancer’s ability to work and earn at this time, may I please ask that the existing legislation be amended so that the loan charge is made prospective from 2017 onwards, which would remove at least one level of uncertainty for this important group of people at this very difficult time?

None Portrait Several hon. Members rose—
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Oral Answers to Questions

Stephen Metcalfe Excerpts
Tuesday 11th February 2020

(4 years, 3 months ago)

Commons Chamber
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Sajid Javid Portrait Sajid Javid
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I can tell the right hon. Gentleman that the announcement today was of £5 billion of fresh funding for local transport—buses and cycling. When it comes to cycling—something we all want made easier to access for all our constituents—there will be 250 miles of new dedicated cycle track.

Stephen Metcalfe Portrait Stephen Metcalfe (South Basildon and East Thurrock) (Con)
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T7. I know that the Government are committed to renewing and improving our national infrastructure. However, those improvements have to represent value for money. I therefore urge the Chancellor to question both the cost and effectiveness of the current proposals for a new lower Thames crossing and suggest that he re-examines both the business case and the alternative options.

Sajid Javid Portrait Sajid Javid
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I understand my hon. Friend’s concerns and he is right to raise this. He will be pleased that Highways England is conducting a supplementary consultation on the lower Thames crossing to make sure that any benefits are maximised. The consultation will close on 25 March, and I will then look at it carefully. I would encourage him to have his say.

The Economy

Stephen Metcalfe Excerpts
Thursday 24th October 2019

(4 years, 6 months ago)

Commons Chamber
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Jeremy Wright Portrait Jeremy Wright (Kenilworth and Southam) (Con)
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It is a great pleasure to contribute to this debate about the economy. It is an economy that is changing, and I want to use my few minutes to speak about that change.

Technology has already transformed many of our businesses and much of our economic activity is now happening online, but of course some things have not changed. The Government still need businesses to create wealth to tax and spend on public services, and businesses still need the Government to provide the environment in which wealth can be created. But in the new digital economy, Government policy making needs to be quicker and more imaginative, and it needs to do several things at once.

Policy making needs to provide for necessary infra- structure, including broadband. It also needs to deliver the increased investment in science and research referred to in the Gracious Speech, and an immigration system designed to allow the brightest minds to contribute to our ongoing prosperity. But there is something else that policy has to do. It needs to create the ethical and regulatory frameworks within which technology advances. Now, some fear that innovation is stifled by ethical safeguards, but I think it is the opposite; I think that it can be the absence of ethical safeguards that holds innovation back.

Let us take artificial intelligence as a good example. The real potential for AI is in the intelligent utilisation of data, and lots of it. It cannot bring truly transformative improvement without that data, and much of the data it needs—some of it very sensitive—it is in the hands of individuals who understandably worry about what may be done with it. They will not make their data available if they are not persuaded that there are ethical safeguards in place to protect it. The Government need to design and implement those safeguards.

Stephen Metcalfe Portrait Stephen Metcalfe (South Basildon and East Thurrock) (Con)
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Will my right hon. and learned Friend give way?

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Lindsay Hoyle Portrait Mr Deputy Speaker (Sir Lindsay Hoyle)
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Order. May I suggest that if there are lots of interventions, people who wish to make speeches are going to end up with a reduced time limit?

Stephen Metcalfe Portrait Stephen Metcalfe
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I just want to make a comment in the light of what my right hon. and learned Friend was saying about ethics in the use of data. Does he agree that the UK has historically led the field in the creation of ethical frameworks, and that we are well placed to do so again when it comes to AI?

Jeremy Wright Portrait Jeremy Wright
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I agree with my hon. Friend. In the interest of saving time, he takes me directly to my next point, which is that we in the UK are well placed to do the work to which he refers. We are respected not just for our scientific expertise, but also for our regulatory expertise. I hope very much that the Government will engage fully in that task.

Finally, I urge the Government to maintain their commitment to internet safety and the reduction of online harms. I was very proud to bring forward the online harms White Paper in conjunction with a number of ministerial colleagues, including my right hon. Friend the Chancellor when he was Home Secretary. That White Paper sets out a response to online harms in social media and other user-generated content that seeks to balance freedom of speech with protection of the vulnerable in a fast-moving landscape where, frankly, hardly any rules have been applied so far. I believe that the approach it sets out strikes that balance well, but we certainly heard arguments that said, “Hold back. Let someone else regulate first, in case all the investment coming into the UK now from Google, Facebook and all the rest goes somewhere else instead.” Well, I rejected those arguments then and I reject them now—not least because, as these companies generally accept, if social media and other online spaces are not seen as safe spaces, people will increasingly choose not to be there, and if people are not there, they cannot be sold anything there, so it is good business as well as good policy to make them safer. I am therefore pleased to see in the Gracious Speech a commitment to continue to develop proposals to improve internet safety, but I am disappointed not yet to see a commitment to legislate to do so. I understand Ministers’ preference to pursue pre-legislative scrutiny first, and it is important to get this right, but I urge them not to lose momentum.

At this crucial moment in the development of the digital economy, we should not just act to protect the vulnerable in our own communities; with that well-deserved reputation for both innovating and regulating effectively, we should also be proud to lead the world in making the internet a safer place.

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Stephen Metcalfe Portrait Stephen Metcalfe (South Basildon and East Thurrock) (Con)
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I am pleased to be able to make a short contribution in response to the Gracious Speech. There is much to be welcomed in this Queen’s Speech, and it is a testament to the Government’s stewardship of the economy that we are able to put some of these actions forward.

I had wanted to remind the House a little bit about the toxic economic inheritance that we received back in 2010 and then how, over the past decade, we have transformed the UK economy, which has allowed us to invest in our important public services, but I fear that I do not have the time. We have come a long way, but there is always more to do. This Queen’s Speech, I believe, starts that process and builds on the progress.

We are putting more money into hospitals. We have heard about the £14 billion that is going into schools, and we are funding 20,000 extra police officers, 135 of whom I will see in my Essex constituency. There is therefore much to welcome, but I cannot make a contribution to this debate without talking about the first and foremost Bill in the Queen’s Speech—the European Union (Withdrawal Agreement) Bill.

I was very pleased when, earlier this week, the Second Reading of the Bill received approval, but I was disappointed when the programme motion failed. Had it passed, there would have been a huge sigh of national relief, and it is a shame that we have a Bill that has passed but can go no further. Some 73% of my constituents voted to leave the EU and, three and a half years on, they cannot understand why we have not left. Just pushing the can further down the road will not solve this problem. Everything that can be said about Brexit has been said twice already. No vote will change because of words spoken in this Chamber. We just need to get on with it. If we cannot get on with it, we will need to have a general election.

There are other things to which I want to refer. I particularly welcomed the announcement of the proposal to introduce the Prisoners (Disclosure of Information About Victims) Bill. I am sure that the hon. Member for St Helens North (Conor McGinn) also welcomes that Bill. It is of particular importance not only to me, but to my constituent Linda Jones. Her daughter, Danielle, was murdered by her uncle, who has continually refused to disclose the location of her body. The Bill is also important to numerous other families affected by this tragic and cruel crime, including Marie McCourt, whose daughter, Helen—after whom Helen’s law is named—was murdered. Although the announcement is welcome, the Government need to ensure that all relevant parole hearings that are in process are paused until the Bill is enacted so that no one is disadvantaged by the timing.

While there are all the other Bills that I welcome, I want to focus on the science aspect of the Queen’s Speech for the last 45 seconds of my contribution. As a former Chair of the Select Committee on Science and Technology, chair of the all-party parliamentary group on artificial intelligence and the Government’s envoy for engineering, I recognise that this Government have done a huge amount for science over the last 10 years and have promised to do more, including by investing £7 billion in our research and development base over the next five years. We are a global science power. We punch well above our weight; pound for pound, we create more citations internationally than any other country. This Government are doing all they can to protect and nurture that base. I ask Ministers to please continue to make scientists from around the world welcome in the UK so that the best and brightest always base themselves here.

Oral Answers to Questions

Stephen Metcalfe Excerpts
Tuesday 1st October 2019

(4 years, 7 months ago)

Commons Chamber
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Sajid Javid Portrait Sajid Javid
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The hon. Lady makes an important point, and I am glad that she has brought my attention to it again. As Chancellor, I want to ensure that across Government every Department is doing its bit for the economy. Some of the people she is talking about will be vulnerable people and the current rules are worth looking at again. It is something that the Home Office is taking very seriously.

Stephen Metcalfe Portrait Stephen Metcalfe (South Basildon and East Thurrock) (Con)
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T5. As my right hon. Friend knows, those affected by the devastating loan charge have welcomed the independent review, but feel that it would be better conducted by a tax judge. Does the Minister agree? Does he also agree that a suitable outcome of the review would be to apply the loan charge only from when it was introduced, in 2016, not retrospectively?

Jesse Norman Portrait The Financial Secretary to the Treasury (Jesse Norman)
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I thank my hon. Friend for that question. I have addressed the substance of it, but let me make a point about Sir Amyas Morse. I think that Sir Amyas is a superb choice. As my hon. Friend may be aware, in a debate in the House of Commons on 6 March 2019, the Chamber united across the parties in praise of Sir Amyas. The Chair of the Public Accounts Committee, the hon. Member for Hackney South and Shoreditch (Meg Hillier), called him

“a fearless advocate for what is good in the public sector and for challenging Governments of whatever party”.

The Liberal Democrat spokesman, the hon. Member for Oxford West and Abingdon (Layla Moran), said that he was not only “unfailingly courteous”, but had

“an intelligence of steel. He has a knack for calling out obfuscation, fudge and imprecision”,

and

“a reputation for being completely fair.”—[Official Report, 6 March 2019; Vol. 655, c. 1004-05.]

He is a very good choice to lead this review.

Spending Round 2019

Stephen Metcalfe Excerpts
Wednesday 4th September 2019

(4 years, 8 months ago)

Commons Chamber
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Sajid Javid Portrait Sajid Javid
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The good news is we do not have to choose between investing in leaving the EU and investing in Rhondda or anywhere else in the country, and the reason is that, under the Conservatives, we have a strong economy. But if the Labour party were ever in charge, we would not have the money to invest anywhere.

Stephen Metcalfe Portrait Stephen Metcalfe (South Basildon and East Thurrock) (Con)
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I thank the Chancellor for his statement and particularly the focus on rebuilding our infrastructure. Of course he is right to ensure that it delivers value for money. May I therefore ask that he has another look at the lower Thames crossing to ensure that it is delivering value for money and that it delivers its primary aim of relieving congestion at the existing Dartford crossing?

Sajid Javid Portrait Sajid Javid
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The general point my hon. Friend makes about infrastructure and value for money is of course absolutely right, and as we spend more on infrastructure we must make sure that that principle is always maintained. He has invited me to take a further look at the lower Thames crossing. I will be happy to do that and to discuss it with him.

Loan Charge

Stephen Metcalfe Excerpts
Thursday 11th April 2019

(5 years, 1 month ago)

Commons Chamber
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Stephen Metcalfe Portrait Stephen Metcalfe (South Basildon and East Thurrock) (Con)
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Thank you for calling me so early in this resumed debate, Mr Speaker. I have to say that I had never imagined that I was going to speak in it, seeing as rain stopped play at about this time last week. I am by no means an expert on the 2019 loan charge, but I, like many others who expressed an opinion last week, have been contacted by numerous constituents who have set out in clear terms how they believe it would impact on them. They are being asked to pay back thousands, tens of thousands, and in some cases even hundreds of thousands of pounds that they never believed would be due.

Do not get me wrong: I believe that everyone should pay their fair share of tax. We know that that is what funds our public services, and we should clamp down on tax evasion at every possible opportunity. However, minimising tax exposure has always been a legitimate part of our tax system.

When looking at this issue, I have been on a journey. Initially I was in two minds about the validity of the arguments presented. Obviously, I had great sympathy for my constituents on both a personal and an individual level, but I felt that the old adage, “If something looks too good to be true, it is too good to be true,” applied. I have now, however, come to a different conclusion. I have looked at the individual cases presented and at the wider issues. To demonstrate why I have come to that conclusion, I want to use the words and sentiments that one particular constituent has sent me. He wants me to do this anonymously, as he does not want to prejudice himself or his case. As an aside, I am not sure that it is a healthy state of affairs when constituents are scared to speak out against a Government agency.

My constituent is a freelance IT professional who was advised to enter one of these schemes. When he entered the scheme, to give himself confidence that it was legally compliant and that what he was being told by his professional adviser was true, he contacted Her Majesty’s Revenue and Customs. The correspondence my constituent has from HMRC shows that in 2012, when he was checking for compliance under disclosure of tax avoidance schemes legislation, he asked HMRC to review the particular arrangements he had joined. I am informed that the HMRC anti-avoidance group concluded that no hallmarks of tax avoidance were in evidence and so HMRC did not assign a DOTAS number to that arrangement.

If that is true, which I obviously believe it is, I think it is fair to say that, under HMRC’s duty of care and due diligence, it had plenty of opportunity to inform my constituent that things had changed and that the particular arrangement that he had entered into would be liable to taxation. HMRC completely failed to notify my constituent that anything was amiss, so for years he relied on the initial HMRC advice he had received and continued as a customer of the arrangement.

Charles Walker Portrait Mr Charles Walker (Broxbourne) (Con)
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That retrospective and disproportionate approach being taken by HMRC are what concern a number of my constituents. The people I represent are very reasonable, and they would be happy to come to an arrangement with HMRC, but HMRC seems to want to bankrupt its debtors, as opposed to getting some return from them.

Stephen Metcalfe Portrait Stephen Metcalfe
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My hon. Friend makes an excellent point. All the correspondence I have had has been phrased in very reasonable terms. People want to do the right thing, but they feel under a huge amount of pressure.

Bob Stewart Portrait Bob Stewart (Beckenham) (Con)
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I am sure that, every year, my hon. Friend’s constituent sent in a tax return, which HMRC ticked, approved and sent back. Only recently has HMRC suddenly seen the way things are going and said, “Right, this is some kind of tax avoidance. Let’s get it all back, and in one year.”

Stephen Metcalfe Portrait Stephen Metcalfe
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I do not know what the rules are on my hon. Friend reading the next line of my speech over my shoulder, because it says here that my constituent continued with these arrangements and, each and every year, dutifully declared on his tax return the amount he had received in loans and the amounts he had returned thereof. It came as a surprise that, years later, HMRC intends to use its newly granted powers—in what my constituent describes as “winding back the clock”—to retrospectively claim that the arrangements my constituent and others had used were not legal, had never worked and that the tax on the loans was always due.

Sarah Wollaston Portrait Dr Sarah Wollaston (Totnes) (Ind)
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I thank the hon. Gentleman for making these excellent points. Like me, does he find that he has several constituents who had no option but to be self-employed and were required to enter such vehicles?

Stephen Metcalfe Portrait Stephen Metcalfe
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The hon. Lady makes an excellent point. For many there was no option. In many cases, as in the case of my constituent, people had to enter these schemes. My constituent even checked whether there were alternative options and checked the legitimacy of it, never thinking it would come back to haunt him.

I have to say that I do not like it. It feels wrong. I would like to think that I am a fairly reasonable chap, and when I feel that something is wrong or off and does not feel like natural justice, it tends to be true. Eventually, the Government will come round to my way of thinking, or I very much hope so.

As I said, I am not an expert on tax in general, but the charge is retrospective and HMRC failed to notify scheme users of the tax liability. Users sought professional advice or were advised to enter these schemes and, as in my constituent’s case, annually declared what they were doing.

Bill Grant Portrait Bill Grant (Ayr, Carrick and Cumnock) (Con)
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Does my hon. Friend agree that, for some caught up in the loan charge, their circumstances may be the result of unfortunate omissions in, for example, professional advice or, indeed, HMRC advice, rather than a deliberate act on their part? For that reason, clemency and reasonableness should be applied by HMRC.

Stephen Metcalfe Portrait Stephen Metcalfe
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My hon. Friend makes an excellent point that stands entirely on its own right, and I hope it has been heard.

Oliver Heald Portrait Sir Oliver Heald (North East Hertfordshire) (Con)
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On giving latitude, does my hon. Friend agree that these cases vary quite considerably? In some cases, it may be about allowing more time for people to pay; in others, it may be about looking at the detail of the debt and whether there is other evidence to suggest it should be less; and in some cases, it is a question of giving latitude on how many years HMRC goes back.

Stephen Metcalfe Portrait Stephen Metcalfe
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My right hon. and learned Friend makes some good points, and I am aware that the Government have set out some of the mitigating measures they want to put in place. I am sure we all welcome those measures, but there is a need for both a pause and a full and proper review of what is being proposed to see whether we are acting in a way that would be considered to be natural justice.

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Stephen Metcalfe Portrait Stephen Metcalfe
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I want to continue. In failing to act back in 2012, when it had the opportunity—and surely the duty—to do so, HMRC denied my constituent the opportunity to depart the arrangements and seek an alternative solution for his payroll needs.

Michael Fallon Portrait Sir Michael Fallon
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My hon. Friend has been so generous in giving way that I hesitate to intervene once again. When he says that something feels wrong, he is on to something, because what feels wrong to some of us is that the equivalent effort does not seem to be put into pursuing the promoters of the schemes, or indeed the employers, and that the entire weight of recovering the so-called tax gap is falling only on the employees. That does not feel right.

Eleanor Laing Portrait Madam Deputy Speaker (Dame Eleanor Laing)
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Order. Before the hon. Gentleman answers that point, I should explain to the House that we have less than 50 minutes left for this debate, for obvious reasons. He finds himself in the difficult position of being the opening speaker, as it were, and therefore he has been required to take a lot of interventions because people have short points that they want to make, but of course this debate had the bulk of its time last week, and I know from what people have told me that what they actually want to hear is the Minister’s reply to the many questions that were asked last week, and will be asked this week. There will therefore be a very short time limit on speeches—probably two minutes. The hon. Gentleman has been very generous in taking interventions, and I am sure he wants to finish the points that he would like to make. I have no objection to his taking further interventions, as long as the House realises that that will be the bulk of the debate.

Stephen Metcalfe Portrait Stephen Metcalfe
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Madam Deputy Speaker, I hear what you say loud and clear, but I did want to allow Members to intervene because I think it allows them to get their points on the record.

The point that my right hon. Friend the Member for Sevenoaks (Sir Michael Fallon) raised is completely valid. We need to be throwing the net wider to recover some of this money.

I reiterate that my constituent acted only under advice from a chartered accountant, with tax counsel’s opinion, so although everyone has a duty to pay the tax they owe, this feels off. It feels like a retrospective tax grab. We know that it is causing great stress, anxiety and depression. We know that there have been three suicides associated with it. It cannot be right and surely we must have a duty to look at it again.

If I may, I shall quote my constituent, who says:

“Very simply, if the loan charge is not delayed, and comes in as it is, it will destroy my quality of life and that of my family. It may well prevent me from working and lead me into bankruptcy. It has already caused me to suffer extreme stress, and is causing huge anxiety for my family. If the Government ploughs on with this retrospective legislation, it will be responsible for devastating the lives of families across generations.”

I will leave it there.

Will the Minister seriously consider a delay in implementation and a removal of the retrospective nature of the charge, so that it certainly does not go back further than 2017, when the charges were first announced? I hope that he will build on the assurances that he has given Members who have written to him—I am very grateful for those reassurances—by finding other mitigating measures, so that we can demonstrate, as a House, that we can respond positively and that we are capable not only of listening to, but of hearing and acting upon, the words of the people who come to us, asking for our representation.

None Portrait Several hon. Members rose—
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Oral Answers to Questions

Stephen Metcalfe Excerpts
Tuesday 29th January 2019

(5 years, 3 months ago)

Commons Chamber
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Elizabeth Truss Portrait Elizabeth Truss
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My hon. Friend makes a good point. The borderlands deal is an important way of stimulating growth across the border area, although it would also help if the Scottish National party Government followed through in Scotland on things such as the tax cuts we have introduced elsewhere in the UK.

Stephen Metcalfe Portrait Stephen Metcalfe (South Basildon and East Thurrock) (Con)
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7. What progress his Department has made on reducing the deficit since 2010.

Lord Hammond of Runnymede Portrait The Chancellor of the Exchequer (Mr Philip Hammond)
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In 2010, the Government inherited from Labour a deficit at a post-war high. Since then, owing to decisions the Government have taken and the hard work of the British people, the deficit has reduced by about four fifths and is forecast to be just 1% of GDP by 2021-22. The Government’s balanced approach is ensuring that debt is falling while also supporting vital public services, keeping taxes low and investing in Britain’s future.

Stephen Metcalfe Portrait Stephen Metcalfe
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I am sure the Chancellor will join me in celebrating the fact that for the first time we are starting to see a sustained reduction in our overall debt. Does he agree that the worst thing we could do is hand over the levers of our economy to the Labour party so that it might leave us yet another toxic inheritance to clean up?

Lord Hammond of Runnymede Portrait Mr Hammond
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My hon. Friend is right. The public finances have reached a turning point. This is the first time in 17 years that we are not borrowing for day-to-day expenditure. Debt has peaked and now begun to fall—its first sustained fall in a generation—and the last thing we want is for the hard work of the British people to be thrown away by the incompetence of a Labour Government delivering higher debt and higher interest payments, which they always do.

Oral Answers to Questions

Stephen Metcalfe Excerpts
Tuesday 11th September 2018

(5 years, 8 months ago)

Commons Chamber
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John Glen Portrait John Glen
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Absolutely. Green energy is very important to the UK economy as a whole; it is just very unfortunate that the rate of growth in the Scottish economy is half as strong as in the rest of the United Kingdom.

Stephen Metcalfe Portrait Stephen Metcalfe (South Basildon and East Thurrock) (Con)
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T1. If he will make a statement on his departmental responsibilities.

Lord Hammond of Runnymede Portrait The Chancellor of the Exchequer (Mr Philip Hammond)
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My principal responsibility is to ensure economic stability and the continued prosperity of the British people, both during this period of heightened uncertainty and beyond it after Brexit. I will do so by building on the plans that I set out in the autumn Budget and the spring statement. This Government will continue to take a balanced approach to the public finances that enables us to give households, businesses and our public services targeted support in the near term as well as investing in the future of this country and getting debt down to cut interest costs and deliver fairness to the next generation.

Stephen Metcalfe Portrait Stephen Metcalfe
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South Essex has the potential to play a huge part in delivering on those aspirations, as I and some of my Essex colleagues saw last Friday as we took a Clipper journey from Purfleet out to Southend and back. It was an extraordinary experience. May I therefore invite the Chancellor to come and join us and see the part that south Essex can play in making Britain great again?

Lord Hammond of Runnymede Portrait Mr Hammond
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I think it comes back to the same point: it depends if my hon. Friend is buying.