Oral Answers to Questions
Debate between Mel Stride and Mike Amesbury(6 years, 10 months ago)
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Mike Amesbury (Weaver Vale) (Lab)
The Financial Secretary to the Treasury (Mel Stride)
For all Budgets, Treasury Ministers very carefully assess the gender impact of the various measures under consideration. We do that as a statutory duty, but we also do it because it is our firm policy to do so. Of course, one of our centrepieces in the Budget was the 4.4% increase in the national living wage from this April, which will disproportionately benefit women.
Mike Amesbury
Women still bear the brunt of the Government’s failed austerity agenda. What was the Minister’s assessment of the autumn Budget’s financial impact on women and those with protected characteristics?
Mel Stride
As the hon. Gentleman will know, the Government constantly carry out assessments. There are various assessments of the impacts of all fiscal events, but I point him not only to the national living wage increase, which disproportionately benefits women, but to the personal allowance increase that takes many hundreds of thousands of women out of tax altogether. Of course, by 2019-20 we will spend some £6 billion a year on childcare, a record level of expenditure.
Tax Avoidance and Evasion
Debate between Mel Stride and Mike Amesbury(7 years ago)
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Mel Stride
I will now make some progress. I am aware that this is just a two-hour debate and that many Members wish to speak.
We have covered the various measures that we have taken, and we have covered the huge investment that we have made in HMRC. Perhaps I can now turn to the international aspects. We all agree that we need to look closely at what is happening in the international sphere. On that, this Government have a record of which we can be proud. Through the OECD, we have been in the vanguard of the base erosion and profit shifting project. We have worked closely with the Crown dependencies and overseas territories.
We have brought in a diverted profits tax, which will raise £1.3 billion by 2019, and common reporting standards to ensure that information is exchanged in relation to around 100 countries. We have introduced a directory of beneficial ownership that is accessible by HMRC, the authority that needs to have that information. All this has happened in the last couple of years, and it is a game changer. Many of the issues arising from the Paradise papers go back very many years, but these measures are in place right now.
I also want to make an important point on transparency. In last week’s debate, I asked the right hon. Member for Barking, in relation to the 13 million files held by the International Consortium of Investigative Journalists, whether she would join me in calling on the ICIJ to release that information to HMRC so that we could go after anyone who, as a consequence of that data release, was thought to be abusing our tax system. Will she support us in that endeavour?