Pay and Consultants (Public Sector)
George Howarth Excerpts(12 years, 8 months ago)
Westminster HallRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Mr George Howarth (in the Chair)
Order. Before I call the next speaker, it might be helpful if I make two comments. First, there are 44 minutes left, and quite a number of people wish to speak. If Members are disciplined about putting their arguments, we might be able to get everybody in, and I will certainly try to do so. Secondly, I should draw hon. Members’ attention to the title of this debate, which deals with excessive pay and the use of consultants in the public sector. Tempting though it might be to introduce topical examples of people’s income and tax arrangements, unless those people are already working in the public sector, it is not within the terms of the debate.
Mr George Howarth (in the Chair)
Order. It might be helpful if I say that I intend to call the Opposition spokesperson at 10.40 am. I call Philip Hammond.
Bank Bonuses
George Howarth Excerpts(13 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Mr Osborne
The Independent Commission on Banking is examining the structure of the banking industry and is specifically examining the “too big to fail” issue. It is examining competition in the banking industry, because in recent years we have seen an enormous consolidation of the industry. On taxation, I should of course have mentioned that banks pay income tax on the bonuses and employers’ national insurance at 12.8%.
Mr George Howarth (Knowsley) (Lab)
The Chancellor said in his statement that he expects the banks to make a greater contribution to local economies and local communities. Can he tell the House how much he expects them to set aside for that purpose and how he proposes that they should distribute it?
Mr Osborne
One of the issues that we are talking directly to the banks about is lending into regional economies outside London and the south-east—that is in addition to the contribution that they make to the whole national economy. That regional emphasis is a very specific part of the discussions we are having.