(7 years, 10 months ago)
Commons ChamberThe freedom for Northern Ireland to set its corporation tax rate is an important measure in itself. We look forward to further progress on that. Of course, there will be an autumn statement next month in which the Government will set out their economic policy. I have mentioned corporation tax and R and D tax credits, which we have made more generous. Those measures will have helped manufacturing businesses in Northern Ireland and elsewhere.
I welcome the Government’s ongoing commitment to the northern powerhouse given the impact that that can have on manufacturing, in particular in my constituency, and the allocated funds for the A64 at Hopgrove. Does the Minister agree that such investments must seek maximum economic benefit? The current proposal from Highways England will simply kick an existing pinch point down the road if we do not see the dualling of that carriageway on the A64.
(9 years, 1 month ago)
Commons ChamberWe want to see growth in every part of the United Kingdom. Again, we have a Budget tomorrow. The record of the Chancellor shows a determination to ensure that there is growth in every part of the United Kingdom. I also make this point: it is a fundamental point of principle that taxpayers’ money must be spent wisely to make Government more efficient, effective and accountable. As a consequence, we need to target our spending so that we continue to support those who need supporting while helping millions of people achieve their fullest potential, which we refuse to believe is a life on benefits.
Does my hon. Friend agree with this information from the House of Commons Library that says that tax credit changes in the previous Parliament were about focusing support on those on lower incomes? The Institute for Fiscal Studies said that, in terms of net incomes, the average household was £900 a year better off at the end of the previous Parliament than it was at the start.
(9 years, 2 months ago)
Commons ChamberI have said that productivity is important. One element of that is attracting more business investment into the UK. That requires a Government who are pro-business. I am not sure that the hon. Lady’s ambition to make the hon. Member for Islington North (Jeremy Corbyn) Prime Minister will help.
In 2010, according to the World Economic Forum, the UK had the second highest burden of red tape in the G7. By 2015, we have the lowest. Does the Minister agree that that alone will have a significant impact on productivity in the UK?