Oral Answers to Questions
Debate between Lord Hammond of Runnymede and Jo Swinson(5 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Philip Hammond
I am pleased to say that I recently had an opportunity to talk to Tom Enders and his successor Guillaume Faury, the incoming chief executive of Airbus, and to assure them of the Government’s commitment to make the UK a hospitable and attractive place for Airbus to continue to do business.
Jo Swinson (East Dunbartonshire) (LD)
UK corporation tax was already the third lowest in the G20, yet this year the Government are spending more on an unnecessary corporation tax cut than it would cost to end the cruel benefits freeze. Politics is about choices. Can the Chancellor not see that when the poorest are suffering, a race to the bottom on corporation tax is the wrong priority?
Mr Hammond
If we want to have well-funded public services and a generous welfare support system in this country, we also have to ensure that we have a solid business base creating the jobs and the tax revenues for the future. It is about getting that balance right, and in my opinion right now is not the time to be sending a negative message to businesses about the attractiveness of investing in the UK.
Oral Answers to Questions
Debate between Lord Hammond of Runnymede and Jo Swinson(6 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Philip Hammond
Yes. We have had two quarters of good productivity data, but we should recognise that the productivity challenge we face is long term. The Government have taken a range of measures to address it and we will watch the evolution of the data very carefully, but there is certainly absolutely no scope for any complacency about the scale of the challenge we face, and we are determined to rise to it.
Jo Swinson (East Dunbartonshire) (LD)
Artificial intelligence brings huge economic opportunities, but to date big tech companies have seemed even more likely than traditional corporates to engage in aggressive tax avoidance and concentrate power in the hands of a narrow, homogenous group of people. What will the Treasury do to ensure that companies in this growing industry pay their own way fairly and take account of their wider corporate responsibility to society?