Class 4 National Insurance Contributions
Debate between Lord Hammond of Runnymede and Geraint Davies(7 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Hammond
As I have said many times today and am very happy to say again, we will always support those who are taking risks to grow and found new businesses. Our job—I take this very seriously and my right hon. Friend the Prime Minister takes it very seriously—is to do what is right for the country. When it becomes apparent that we have to do something because it is the right thing for the country—that is what has become apparent to us over the past couple of days—we will do it, however difficult it is. That is what I have done today.
Geraint Davies (Swansea West) (Lab/Co-op)
I realise that the Budget has now become a consultation exercise. Will the Chancellor confirm that at the time he and his colleagues put together the manifesto commitment not to put up national insurance, VAT or income tax, there had been no economic impact assessment of Brexit; and that the economic cost of Brexit, from hard Brexit and tariffs, will fall wholly on public services and the poor?
Mr Hammond
It is certainly the case that at the time of the last general election the referendum had not taken place. Indeed, if a Conservative Government had not been elected a referendum would not have taken place. The hon. Gentleman knows and understands that very well. I have explained today how we approached the manifesto commitments, how we delivered them into law and how we have reviewed the way they are seen in the light of representations from colleagues.
EU Membership: Economic Benefits
Debate between Lord Hammond of Runnymede and Geraint Davies(8 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Hammond
Let me just make this point, then I will give way again.
By contrast, if we remain inside the EU, we can look forward to a huge dividend from an opening of the market in services over the coming years. The truth is that we have barely scratched the surface when it comes to the EU single market. The single market in goods is well developed, but in the sectors in which the UK is truly market-leading—financial, business, technical and professional services, the digital economy, the creative industries and energy—the potential remains huge, and the EU’s high-value market is the place to realise it.
Oral Answers to Questions
Debate between Lord Hammond of Runnymede and Geraint Davies(8 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Hammond
The sanctions my hon. Friend refers to are in fact Russian counter-sanctions that have been imposed against EU producers. I am pleased to be able to tell the House that, despite the sanctions measures Russia has taken in retaliation against EU agricultural producers, agricultural exports from the European Union in 2015 were up by 6%, showing that our producers—Europe-wide producers—are able to address the challenge of Russian sanctions and to find alternative markets elsewhere.
Geraint Davies (Swansea West) (Lab/Co-op)
On the Ukraine, does the Secretary of State accept that Russian bombing of Syrian civilians to provoke refugees and possibly to tilt the balance in favour of Brexit is part of a strategy to fragment European resolve on Ukraine? He is frowning—obviously he has not thought about that.
Mr Hammond
There is definitely a Russian strategy to try to fragment European resolve. It is probably a step too far to suggest that Russia’s engagement in Syria is designed only to apply pressure over Ukraine. Russia has important and historical equities in Syria and is seeking to defend its interests there. But, overall, Russia’s behaviour in Syria and Ukraine gives us deep cause for concern about the established security settlement that we have been used to living with for the last 25 years.