G20

Lord Garnier Excerpts

Monday 17th November 2014 Commons Chamber

[The Prime Minister]

Again, on this issue of investor state dispute mechanisms, we have these in every single trade deal we have ever signed, and I think I am right in saying we have not lost a single case. Of course it is right that we debate all these issues but, as Members of Parliament we sometimes get a barrage of e-mails, that people have signed up to sometimes without fully understanding every part of what they are being asked to sign. People want to spread some fear about this thing, and I think we all have a role, as Members of Parliament, to try to explain properly why these things are good for our country.

[Sir Edward Garnier (Harborough) (Con)]

As so many other economies are either faltering or declining and thus affecting our potential exports, will my right hon. Friend and the Chancellor of the Exchequer do all they can further to reduce business taxes in this country?

[The Prime Minister]

What we have said is that we want to maintain our ambition to have the lowest rate of business tax of the advanced industrial economies. We have achieved that under this Government through getting corporation tax down to 20% and I think that is a very good calling card for Britain in the world to get people to come and invest here. We have a 20% tax rate, but we do believe that it is important that companies pay their tax, so I think it is both a good advert for Britain, but also in the long term a good way of protecting and raising our revenue.