Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Huw Merriman

Tuesday 22nd May 2018 Commons Chamber

[Huw Merriman (Bexhill and Battle) (Con)]

11. What steps he is taking to support businesses and entrepreneurs.

[The Chancellor of the Exchequer (Mr Philip Hammond)]

One year on from the appalling Manchester Arena attack, I am sure that I speak for everyone in the House in saying that on this day our thoughts are with those who lost their lives and their families, and those who suffered life-changing injuries. We will remember them with a minute’s silence later today.

The UK’s 5.7 million small businesses make a vital contribution to our economy, employing 60% of the private sector workforce, and the Government are determined to facilitate their success. We are keeping taxes low and ensuring that firms can access the support that they need to thrive. Following the patient capital review, we are expanding the tax reliefs available to entrepreneurs that will support them in growing their businesses, and we have launched a patient capital action plan to unlock £20 billion of funding to help high-growth firms to reach their potential.

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[Huw Merriman]

In the rural and coastal parts of east Sussex that I represent, infrastructure delivery is key to bringing more businesses and entrepreneurs to the area. What plans does the Chancellor have to continue investment in road, high-speed rail and broadband connections so that we can attract more businesses to rural parts of this country?

[Mr Hammond]

The national productivity investment fund is investing in all those areas. We have the biggest rail investment programme since Victorian times and the biggest road building programme since the 1970s, and we are investing in superfast broadband, which is critical to this country’s future. As my hon. Friend will know, in his area we are investing in the A21, and we are working with Network Rail on exploring options for connecting HS1 services to Hastings via Ashford International.

Spring Statement

Debate between Lord Hammond of Runnymede and Huw Merriman

Tuesday 13th March 2018 Commons Chamber

[Mr Hammond]

Our target—our commitment—is to deliver 3 million apprenticeships by 2020. The introduction of the apprenticeship levy changed the game, and we were always anticipating that it would have an impact on the profile of starts. The additional £80 million announced today is targeted specifically at small, non-levy-paying businesses to help them to take on apprentices. In a couple of weeks, at the beginning of April, large businesses that pay the levy will be allowed to transfer 10% of their levy funds to small businesses in their supply chain to support their engagement and training of apprentices. We will, however, keep the programme under close review. This is a commitment that we must deliver, and if we need to intervene in a different way to deliver it, we will.

[Huw Merriman (Bexhill and Battle) (Con)]

According to page 193 of the OBR report,

“The future is uncertain and the likelihood of unexpected…political developments means…there are significant…downside risks to…forecasts for the public finances.”

Does the Chancellor see any of those political downside risks sitting directly in front of him?

Class 4 National Insurance Contributions

Debate between Lord Hammond of Runnymede and Huw Merriman

Wednesday 15th March 2017 Commons Chamber

[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.

[Huw Merriman (Bexhill and Battle) (Con)]

There has been much talk about the manifesto. This is the manifesto that promised to protect the elderly. In delivering an extra £2 billion for social care, does the Chancellor agree that those of us on the Government Benches need to support him when he makes difficult decisions to raise the cash? The alternative is putting future generations into horrendous debt.

[Mr Hammond]

My hon. Friend is exactly right. As I have already said several times today, we will not adopt the convenient ruse the right hon. Member for Hayes and Harlington has of pretending that we can borrow for everything without any cost. If something needs doing, such as funding our social care system, we have to be prepared to pay for it. Simply pretending that we can borrow for it and pass the debts to our children is not a credible fiscal position.

Autumn Statement

Debate between Lord Hammond of Runnymede and Huw Merriman

Wednesday 23rd November 2016 Commons Chamber

[Mr Hammond]

I am sorry to have to tell the hon. Lady this, but we live in the real world, where people will be employed only if employers can afford to take them on at the wage rates they have to pay them. Getting these young people into the culture of work is the most important thing we can do for them, for the rest of their lives.

[Huw Merriman (Bexhill and Battle) (Con)]

In East Sussex, we have the challenge of a large social care bill for an ageing population and low business rate returns to pay for that. I am aware that the Chancellor will not be allocating county money, but may I ask that his £23 billion investment fund is allocated with East Sussex’s financial and demographic challenge in mind?

[Mr Hammond]

I am afraid I may have to disappoint my hon. Friend, because the £23 billion is specifically targeted at productivity-enhancing investment in R and D and infrastructure. That is because we judge that, with our level of debt, to be credible in the markets, we have to borrow only for that kind of additional productivity-enhancing investment, and it will go into network investment, R and D and innovation.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Huw Merriman

Tuesday 19th July 2016 Commons Chamber

[Mr Hammond]

Since this is our first outing together, let me take the opportunity to make it clear to the hon. Gentleman that I do not believe in the money tree; I am clear that we have to pay our way in the world. We have a very large fiscal deficit that we have to address, but while doing that we also have to ensure we maximise the productive capability of the UK economy. That means targeting our investment into skills—that does largely mean young people—and infrastructure, and encouraging capital formation in private businesses.

[Huw Merriman (Bexhill and Battle) (Con)]

T2. Last year, the former Chancellor came to Hastings and committed to extending high-speed rail from Ashford to Hastings and Bexhill. This investment is the key to delivering local housing, a labour market and business expansion. I welcome the Chancellor to his position and ask for his commitment to this vital project.