Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Derek Thomas

Tuesday 17th January 2017 Commons Chamber

[Mr Hammond]

The Office for Budget Responsibility set out its projections under different scenarios at the autumn statement. It is the OBR that makes the forecasts. It will, of course, produce a revised set of forecasts that will be published on 8 March—Budget day.

[Derek Thomas (St Ives) (Con)]

T4. Businesses, including restaurants and guest houses in my constituency, curtail their business to keep within the VAT threshold, but that has a negative impact on economic activity and jobs in west Cornwall and the Isles of Scilly. Will the Chancellor consider increasing the VAT threshold as soon as the opportunity arises?