Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Jim Shannon

Tuesday 21st May 2019 Commons Chamber

[Jim Shannon (Strangford) (DUP)]

Last Friday, I met members of the Chamber of Trade at Newtownards. Of three small shops in the town of Ards, one started off employing 10 and now employs 60, one started off employing six and now employs 30, and one started off employing 20 and now employs almost 100. Would the Chancellor consider rates reduction for those high street shops that increase employment?

[Mr Hammond]

As far as I am aware, rates is a devolved matter in Northern Ireland; it is a matter for the Northern Ireland Executive, which I very much hope will be back in operation very soon.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Jim Shannon

Tuesday 9th April 2019 Commons Chamber

[Mr Hammond]

Never a Treasury questions goes by without my right hon. Friend raising the dualling of the A120. Of course we have a very large fund available, with £25.3 billion for strategic roads, and I am sure my right hon. Friend the Secretary of State for Transport is well aware of the compelling arguments in favour of dualling the A120.

[Jim Shannon (Strangford) (DUP)]

What tax breaks is the Chancellor putting in place so that hauliers are able to continue through the uncertainty on contracts during the transition period as we leave Europe?

[Mr Hammond]

As I have already mentioned, hauliers have benefited very significantly from the freeze in fuel duty, but the hon. Gentleman asks a wider question. If we were to find ourselves leaving the European Union without a deal—a situation that I sincerely hope will not arise—we have a full range of tools available to us, including all the usual tools of fiscal policy. I have headroom within the fiscal rules of just under £27 billion, as I set out at the spring statement, and the Government will work closely with the Bank of England in those circumstances to ensure that fiscal and monetary policy are used to support the UK economy.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Jim Shannon

Tuesday 29th January 2019 Commons Chamber

[Jim Shannon (Strangford) (DUP)]

They always wish to hear the Strangford perspective on life, but that is by the bye.

Will the Chancellor outline the possible negative effects that reducing the deficit could and would have on the defence budget in the next three years?

[Mr Hammond]

The Government have made a commitment to maintain the real-terms value of the defence budget at 2% of our GDP, increasing defence spending in real terms in every year. We have no intention of changing that commitment to UK defence.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Jim Shannon

Tuesday 11th September 2018 Commons Chamber

[Mr Hammond]

Of course. We have sought, despite the very difficult fiscal circumstances, to address drivers of cost for households, for example by freezing fuel duty and alcohol duty. On the other side of the equation, we have reduced the tax that people are paying on their wages and raised the earning of those on the lowest wages by introducing and then increasing the national living wage.

[Jim Shannon (Strangford) (DUP)]

Despite the freeze in fuel duty, diesel is currently at £1.33 a litre. Rural communities in particular are finding it very difficult. Will the Chancellor indicate the help he can give to rural communities that are dependent on their vehicles to get to work and have a life?

[Mr Hammond]

Many people are dependent on vehicles for everyday living and for work. As I have already said, we understand the pressure that higher oil prices and their feed-through to the pumps presents for individual consumers. We take all such matters into account when setting future policy.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Jim Shannon

Tuesday 22nd May 2018 Commons Chamber

[Mr Hammond]

Yes. I congratulate my hon. Friend on his commitment in this regard, especially in his role as chairman of the all-party parliamentary group on the fourth industrial revolution. Science, research and innovation are areas in which the UK has huge strengths. Our challenge is to provide the right environment—including the right tax environment—to ensure that that potential stays in the UK, and is developed here. We have introduced a range of incentives through the tax system, such as R&D tax credits and entrepreneurs’ relief, as well as the lowest corporation tax rate in the G7.

[Jim Shannon (Strangford) (DUP)]

Given that Northern Ireland is the cyber-security centre of the UK, what steps is the Chancellor taking to provide tax relief to encourage global businesses to consider using Belfast and other equipped cities as their bases?

[Mr Hammond]

We have a globally competitive offer for businesses seeking to locate in the United Kingdom, and, of course, Northern Ireland will have corporation tax flexibilities of its own in due course. However, we seek to make all parts of the UK attractive to foreign direct investment, and Northern Ireland has done extremely well from that.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Jim Shannon

Tuesday 17th April 2018 Commons Chamber

[Jim Shannon (Strangford) (DUP)]

Thank you, Mr Speaker; it is a straightforward question. In this age of online shopping, what help is available for start-up businesses that are focused on internet shopping?

[Mr Hammond]

Start-up businesses involved in online shopping are able to avail themselves of the full range of support for any start-up business. There is no specific regime for online shopping businesses.