Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Meg Hillier

Tuesday 11th December 2018 Commons Chamber

[Mr Hammond]

I reject the hon. Gentleman’s accusation. The methodologies we use are designed to be fair and equitable in the distribution of infrastructure funding, but if he would like to meet me and my hon. Friend the Exchequer Secretary, I am happy to go through the whole issue. We are as concerned as he is to make sure that infrastructure investment decisions are made on a transparent and equitable basis.

[Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)]

6. What assessment his Department has made of whether value for money has been achieved by the sale of public assets.

--- Later in debate ---

[Mr Hammond]

The Treasury will look closely at that.

[Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)]

T9. At our border, we need to ensure that we have security while securing freedom of movement of goods and people as well as gaining revenue. The head of HMRC has said that it will be almost impossible to do all those things if we crash out without a deal. The Chancellor keeps talking about a deal, but we are just over 100 days away from potentially crashing out, so what conversations is he having to ensure that we are not hit in the pocket as a result of a lack of revenue?

[Mr Hammond]

We have made it clear that we will first prioritise the security of the UK, and that we will then prioritise the flow of trade. We will not prioritise the collection of customs tariffs. The hon. Lady will be aware that these are tariffs that we are not currently collecting; they would be additional revenues. We will treat that as something that we can do in slower time, if the situation arises.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Meg Hillier

Tuesday 6th November 2018 Commons Chamber

[Mr Hammond]

I am grateful to my hon. Friend and his constituents for the advice; and, while we are at it, I wish him a happy birthday. The digital services tax aims to improve sustainability and fairness in the tax system. Separately, the Government have announced measures to support small retailers by cutting their business rates by one third for two years. Just to put that in a local context for my hon. Friend, there are 660 retail properties in Harborough local authority area with a rateable value of below £51,000, which means that there are 660 properties that could benefit.

[Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)]

14. Before we get too excited about this, we should bear it in mind that it is still a small amount of the profits of these large companies that will come into the Exchequer. Will the Chancellor explain the timetable for the consultation and when he expects to get any tax revenue into the Exchequer from this measure?

[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.