Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Alex Burghart

Tuesday 6th November 2018 Commons Chamber

[Mr Hammond]

As I said last week, the proposal is to introduce the tax in 2020, but in the meantime we will continue to lead international negotiations on the potential for an internationally agreed tax. Such a tax would in fact be preferable to nationally implemented schemes, but at the moment it is proving very difficult to agree. I hope that, by the time we get to our implementation date in April 2020, we may yet have made progress on an internationally agreed measure.

[Alex Burghart (Brentwood and Ongar) (Con)]

7. What fiscal steps he is taking to support the high street.

Spring Statement

Debate between Lord Hammond of Runnymede and Alex Burghart

Tuesday 13th March 2018 Commons Chamber

[Mr Hammond]

I do not agree with the hon. Lady, and her numbers are wrong, as I am sure she knows. The soaring deficit in 2009-10 has created a legacy that of course was going to lead to increasing debt. Our challenge has been to get the deficit down so that debt can now start to fall, and as debt starts to fall, we are able then to fund our public services, invest in Britain’s future, and provide some relief for hard-pressed families and small businesses through easing their tax burden, and that is exactly what we intend to continue to do.

[Alex Burghart (Brentwood and Ongar) (Con)]

A number of hon. Members have mentioned the next generation. Is it not the case that only this Government’s approach can really deliver true intergenerational fairness, because the alternative is ever-increasing borrowing, which would be put on the shoulders of young people?

[Mr Hammond]

My hon. Friend is absolutely right, and that point needs to be made more often. When the right hon. Member for Hayes and Harlington talks about borrowing an extra £100 billion, £250 billion or £350 billion—or whatever figure he is thinking about this week—and when he talks about nationalising an industry for £190 billion or whatever, he is talking about burdening the next generation with yet more debt that will blight their futures and limit their chances. That is not fair; it is not right, and we must make sure that he never gets the chance to do it.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Alex Burghart

Tuesday 27th February 2018 Commons Chamber

[Mr Hammond]

The hon. Gentleman may be slightly confusing PFI contracts with outsourcing contracts that do not involve capital structures. The resolution of Carillion continues. So far, there has been a very high rate of uptake by private clients of Carillion to continue the services that are being delivered, and we have high hopes of protecting the vast majority of the jobs involved.

[Alex Burghart (Brentwood and Ongar) (Con)]

What are the Government doing to improve transparency in public-private partnerships?

[Mr Hammond]

We absolutely value transparency in the public-private partnerships that are delivered. They are an important part of the overall infrastructure. As I just explained to the House, there are currently no PF2 projects in procurement. That indicates that we have set the bar for value for money in public-private partnerships very high, and we will continue to do so.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Alex Burghart

Tuesday 16th January 2018 Commons Chamber

[Alex Burghart (Brentwood and Ongar) (Con)]

Will the Minister welcome the fact that UK manufacturing is at an eight-year high?

[Mr Hammond]

Yes.

Economy and Jobs

Debate between Lord Hammond of Runnymede and Alex Burghart

Thursday 29th June 2017 Commons Chamber

[Mr Hammond]

Well, we are only one quarter into this year. I do not want to get techy, but the first quarter data are always subject to the largest revision, so let us wait and see. The OBR maintains its forecast for economic growth of 2% this year.

[Alex Burghart (Brentwood and Ongar) (Con)]

rose—

--- Later in debate ---

[Mr Hammond]

I will give way to my hon. Friend the Member for Brentwood and Ongar (Alex Burghart) and then to my hon. Friend the Member for Dover (Charlie Elphicke). I will then make a bit of progress.

[Alex Burghart]

The Chancellor went to school in my constituency and will be aware that my constituents are concerned that we maintain our excellent record on job creation. What would be the impact on job creation of a sizeable hike in corporation tax—say to 26%?

[Mr Hammond]

As I have already said, it is clear that reducing the corporation tax rate has led to a flow of investment and the creation of millions of new jobs, which I welcome. That is the way forward for this country, not the obsolete 1970s policies of the Labour party.