Class 4 National Insurance Contributions

Debate between Lord Hammond of Runnymede and Roger Mullin

Wednesday 15th March 2017 Commons Chamber

[Mr Hammond]

There again, we have a manifesto commitment to spend 0.7% of GDP on overseas aid. That commitment has been legislated for and is therefore locked, unless this House were to decide otherwise.

[Roger Mullin (Kirkcaldy and Cowdenbeath) (SNP)]

This is another right boorach. The last Chancellor who had to make a U-turn lasted only a few weeks thereafter, so before this Chancellor leaves office, will he confirm that, since he said that this decision was only made at 8 o’clock in the morning, that means it has not been taken to the full Cabinet?

[Mr Speaker]

I am very grateful to the hon. Gentleman; I shall add the word “boorach” to my vocabulary.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Roger Mullin

Tuesday 29th November 2016 Commons Chamber

[Mr Hammond]

It is an excellent scheme indeed. My right hon. Friend will know that it is not only the £23 billion of additional funding for economically productive infrastructure that was announced on Wednesday last week, but a core £150 billion of funding for the same defined purposes over the remainder of this Parliament and the Government’s commitment, repeated last Wednesday, to move to a roads fund from 2020, funded by the revenues from vehicle excise duty, all of which adds up to a sustained commitment to investment in our roads.

[Roger Mullin (Kirkcaldy and Cowdenbeath) (SNP)]

Brexit is putting business investment on hold at the expense of job losses. This comes after a long period of escalating debt and slumping growth. Furthermore, quantitative easing has failed to raise confidence and stimulate business investment in the real economy. The autumn statement measures announced are simply insufficient. What else will the Chancellor do?

[Mr Hammond]

I simply do not recognise the picture that the hon. Gentleman paints. The Bank of England’s monetary actions have undoubtedly had a positive effect in stimulating the economy. The performance of consumer demand over the past few weeks has demonstrated that very clearly. We have the key elements in place, both monetary and fiscal, for our current circumstance, which is the potential for a more difficult period ahead. We need to muster our resources, make sure that we are able to support the economy through this period, and, at the same time, address the fundamental challenges, such as the productivity problem, to ensure that Britain is match fit to meet the challenges that it will face as it leaves the European Union.

[Roger Mullin]

In that regard, I am sure that the Chancellor would agree that research and development investment is critical to obtaining a high skill, high wage economy and one that increases productivity, as he has recognised. It is therefore disappointing that the autumn statement has failed to match R and D investment as a percentage of GDP in line with other major economies. What will the Chancellor do to fill that gap?

[Mr Hammond]

What I will do over the medium to long term is get the British economy back on to a firm footing, so that we can fund all those investment needs—which we do have, as the hon. Gentleman points out. Let me turn the question around. Scotland will receive £800 million of additional capital funding through Barnett consequentials as a result of the announcement made last week. From the tone of the hon. Gentleman’s question, I feel sure that the Scottish National party will want to confirm that that money will be used in Scotland, as it will in England, to target productivity-raising capital investment, so that the Scottish economy can perform more strongly in the future.

Autumn Statement

Debate between Lord Hammond of Runnymede and Roger Mullin

Wednesday 23rd November 2016 Commons Chamber

[Mr Hammond]

I am not going to be tempted, as a former Transport Secretary, to get into the weeds of my right hon. Friend’s portfolio and talk about specifics of individual projects on the rail network, but, as I said, he will be making a statement in the near future.

[Roger Mullin (Kirkcaldy and Cowdenbeath) (SNP)]

Will the Chancellor confirm that the assumption on pages 241 to 248 of the OBR’s “Economic and fiscal outlook” not only means that all forecast numbers will be subject to high margins of error but implies that the Government will fail to achieve single market membership?

[Mr Hammond]

No, it does not imply that. However, it is the case, as I have said, that the OBR has acknowledged specifically that there is a higher degree of uncertainty around its forecasts this autumn than there is usually, for reasons that are obvious.

Iran: Nuclear Deal

Debate between Lord Hammond of Runnymede and Roger Mullin

Wednesday 15th July 2015 Commons Chamber

[Mr Hammond]

As my hon. Friend would expect, I shall put the case for the agreement to the Israeli Prime Minister, and I have no doubt that I shall hear, in great detail, his case against it.

[Roger Mullin (Kirkcaldy and Cowdenbeath) (SNP)]

In 1991, I sat in the office of the International Atomic Energy Agency in Vienna, having a fairly robust discussion about the plans in relation to Iraq at that time and, in particular, the prospect of transporting nuclear waste. Will the Foreign Secretary tell us how the issue of the nuclear waste that is being generated will be handled as a result of the agreement?

[Mr Hammond]

I am not sure that I quite understand the question. At present, Iran does not have a functioning civil nuclear power generation programme. The position is very clear, however. Under the agreement, there are restrictions on the amount of enriched uranium, even at 3.67%, that Iran can hold. Any excess must be immediately and irreversibly converted back into a different form, or else exported. The Russians, who have been extremely helpful during the negotiations, have agreed to act as an export point for any material that Iran needs to export to comply with the agreement.