(2 years, 4 months ago)
Commons ChamberI am afraid to say that is an extraordinary attack, even by the hon. Gentleman’s standards. Actually, this Government were the first to introduce a net zero target. At COP26, we saw our Prime Minister and our COP President leading the world on action against climate change—action that others now seek to copy.
The UK has the lowest tax take in the world from offshore oil and gas. Even with the temporary energy profits levy, the tax take will still be six percentage points lower than the global average, and the new investment allowance announced by the Government will compensate companies 91p for every £1 they spend on new oil and gas projects. Will the Government look carefully at the fiscal regime and abolish the obscene subsidy that is distorting investment into outdated fossil fuels instead of new renewables, which do not qualify for that investment allowance?
I return to what I said earlier. The situation we inherited from the last Labour Government is that renewables provided only 7% of our electricity mix; it is now 43%. When it comes to oil and gas taxation, the Government’s energy profits levy—the hon. Gentleman will know this, as I very clearly remember him debating it in the Chamber—is set to raise £5 billion this year, which is considerably more than the tax proposed by the Labour Front Bench, which he backed.
(4 years ago)
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My hon. Friend is absolutely right. Services represents about 79% of our GDP and 80% of our employment. The UK, as we know, is a world leader in tech and digital and far ahead of our closest European competitors, France and Germany. We are one of the world’s leading international financial services centres, with best in class industry, infrastructure, talent and expertise. The recently announced deal with Japan goes further than the EU deal when it comes to services, particularly financial services.
The Minister knows, but did not say, that the current CRaG process was put in place when many other layers of democratic scrutiny were applied to international treaties through the EU, but those layers are now gone. Now that his Department has failed to conclude the roll-over agreements, does he accept that democratic scrutiny needs to reflect not just the convenience of Government, but the proper oversight and challenge of Parliament? Or will he only change his view when he finds himself in opposition?
I think the hon. Gentleman is operating under the misconception that the Government do not want Parliament interested in trade and in trade deals. We are constantly at this Dispatch Box—I, the Secretary of State and the rest of the ministerial team—talking about trade and trade deals. We welcome all the additional parliamentary scrutiny. I remind him that the CRaG process he talks about was set up under the last Labour Government. We have gone further in terms of the reports that we publish and the involvement of Select Committees in both Houses of this Parliament.
(4 years, 4 months ago)
Commons ChamberI will give way to the hon. Member for Brent North (Barry Gardiner)—it is great to see him back in trade.
The Minister talks of CRAG as if it is a process under which this Parliament has any power. He knows that it is the Government who enable Parliament to have a debate whereby it could vote against what is tabled under the CRAG process. He must look again at the way in which real scrutiny and accountability can be brought to bear in the way that the hon. Member for Huntingdon suggests.
It is good to see the hon. Gentleman back. I remember that he was originally a Blairite Minister in Tony Blair’s Government, and it has been really instructive to see the journey that he has been on over some time. I saw him take the seat in the extreme corner of the Chamber earlier and thought, “Not only has he taken on the views of the right hon. Member for Islington North (Jeremy Corbyn), but he has now even taken his previous seat.” The hon. Gentleman voted for CRAG in 2010, as did I. [Interruption.] We both voted for CRAG in 2010. CRAG allows Parliament to block a trade deal. It allows Parliament to block international treaties. That was the intention—his Government designed it in that way to give Parliament the ability to block an international agreement, and that remains the case today.
My hon. Friend is absolutely correct that our scrutiny offer compares very favourably with Australia’s and New Zealand’s and is at least equal to Canada’s. He is right in other regards as well. Some of these amendments would obligate the Government to publish the text after the end of each negotiating round. At the moment, we publish a written ministerial statement. The idea that we publish the interim text with the United States so that Australia, New Zealand, Japan and all our partners could see it when this Government—this country—are undergoing simultaneous negotiation with different partners is not a sensible way of proceeding.
I am going to make more progress.
This Government understand the desire of Parliament to have effective scrutiny of our FTA programme. That is why we have gone above and beyond the baseline provided by CRAG in committing to publishing comprehensive information ahead of entering into negotiations with partner countries. We have already done this—