Greece

Debate between Baroness Hoey and George Osborne

Monday 6th July 2015 Commons Chamber

[Mr Osborne]

I have not seen that analysis, but I will have a look at it and report back to my hon. Friend.

[Kate Hoey (Vauxhall) (Lab)]

I appreciate that the Chancellor of the Exchequer does not want to dictate to the Greek Government what kind of currency they should use, but will he have a word with the Prime Minister about the possibility of the two of them pointing out during their next conversation with the Greek Prime Minister that there is a bright future outside the eurozone, and suggesting that the Greeks look at the example of the United Kingdom and leave the eurozone—which, of course, we never joined?

[Mr Osborne]

My experience of the Greek Government is that they are very well versed in events here in the United Kingdom. They have certainly noticed our economic revival. I repeat, however, that it is not for us to say which currency they should use.

EU Budget (Surcharge)

Debate between Baroness Hoey and George Osborne

Monday 10th November 2014 Commons Chamber

[Mr Osborne]

I am sorry that the hon. Member for Stoke-on-Trent Central (Tristram Hunt) wants to leave, because we were just talking about the presence of the Labour leader. As the hon. Gentleman said at the weekend:

“‘I never believed the answer to Labour’s problems was to show people more of Ed Miliband.”

My right hon. Friend the Member for South Cambridgeshire (Mr Lansley) is right; on 27 October, he asked my right hon. Friend the Prime Minister about the position of the rebate. The Prime Minister said it was:

“One of the important questions that needs to be asked and properly answered”.—[Official Report, 27 October 2014; Vol. 587, c. 30.]

He said that that is what we are seeking to do. So my right hon. Friend the Member for South Cambridgeshire is right to have asked the question—of course nobody from the Labour party did—and that is why we were engaged in the intensive discussions to nail down the rebate.

[Kate Hoey (Vauxhall) (Lab)]

Does the Chancellor not agree that this whole fiasco just shows that we are paying far, far too much to the European Union, that we should be seeking ways of getting back control of our country, our own borders and our own system of justice, and that the sooner we get a referendum, the better?

[Mr Osborne]

I completely agree with the hon. Lady, which is why I made the point at the end of my remarks that the whole episode demonstrated why we needed reform in Europe. She, of course, is one of a growing number of Labour MPs who join us in wanting to see that referendum—I hope she can persuade the Labour Front-Bench team.

Financial Assistance (Ireland)

Debate between Baroness Hoey and George Osborne

Monday 22nd November 2010 Commons Chamber

[Kate Hoey (Vauxhall) (Lab)]

What kind of conditions is the Chancellor likely to impose on the bilateral loan to Ireland? Will he take into account the feelings of people in Northern Ireland who, if they live on the border, see corporation tax at 12% just down the street, but at 28% in Northern Ireland, and will be asking why they are paying more to help a country when there is such a disparity in corporation tax?

[Mr Osborne]

As I said earlier, the conditions attached to our loan will be similar to those attached to the overall international assistance package; of course, we are part of the discussions when it comes to shaping that package. I would make two specific points. First, we have set very high store by sorting out the banking problem. In other words, using this financial assistance to sort out the banking problem has been the primary thing that I have been calling for in the private discussions we have had leading up to this point.

Secondly, on the rate of corporation tax, I would make this observation to the hon. Lady, and I hope that she has some sympathy with me. Ireland should be in charge of its own tax rates. How the terms of the financial assistance are met has to be a decision ultimately for the Irish Government and the Irish Parliament. It is the thin end of the wedge if we allow other countries and other international organisations to start determining what corporate tax rates should or should not be. It is in everyone’s interests that Ireland grows, and it would not be particularly in our interests if the Irish undertook measures that might, for example, lead to an immediate flight of international business.