Autumn Statement

Debate between Anne Marie Morris and George Osborne

Wednesday 3rd December 2014 Commons Chamber

[Mr Osborne]

The reason is that we started with a 10.5% budget deficit, which we have had to reduce. Interestingly, the International Monetary Fund assesses that we have had the longest and most sustained reduction in the structural deficit, and that we are forecast to have the strongest reduction in the headline and the structural deficit in the future. The IMF assessment of how we have done shows that we are restoring economic stability to this country.

[Anne Marie Morris (Newton Abbot) (Con)]

May I again congratulate the Chancellor on being a friend to small and micro-businesses? His autumn statement is first class. His extension of national insurance and business rate reliefs is much appreciated, and it is inspirational that he is going to have a full review of business rates, the most-hated tax for all small businesses. While he is feeling inspired in the demolition business—getting rid of the slabs in stamp duty—will he look at the cliff in VAT? It is a real barrier to growth, despite the fact that it is a European tax.

[Mr Osborne]

As my hon. Friend knows—this is the problem of previous Governments having handed over various powers and rights of this country to Brussels—we are constrained by the VAT threshold that we can levy in this country. I think that it is already the highest in Europe, so we are restricted in what we can do. That is why we are seeking to help small businesses in her west country constituency both through the measures on business rates, and through investment in infrastructure, such as the A303, the Dawlish rail line and the Kingskerswell bypass. As I saw a few weeks ago, the bypass is proceeding very well in her constituency.

Autumn Statement

Debate between Anne Marie Morris and George Osborne

Wednesday 5th December 2012 Commons Chamber

[Mr Osborne]

Of course our ambition is for employment to increase. That is why we have made further changes to make our businesses more competitive, to help working people and to create a welfare system that encourages those who are in work. I hope she will support that.

[Anne Marie Morris (Newton Abbot) (Con)]

I congratulate the Chancellor on the good news in his statement for micro-businesses and particularly on what he has done with fuel duty and extending the small business rate tax relief. That is wonderful, but I have a particular concern about rural communities. In the detail, has he considered any further rural rebate for fuel duty in addition to the freeze he has already introduced?

[Mr Osborne]

I am not sure that this is necessarily the answer my hon. Friend wants, but unfortunately the European Union constrains the rural fuel rebates we can give to very remote island areas. That is why we have been able to introduce rebates in some of the Scottish islands and in the Isles of Scilly, but not in more remote parts of rural England, Scotland, Wales and Northern Ireland. We are pressing the Commission to see whether we can extend the definition of remote rural areas so that remote parts of the south-west, for example, can benefit.

Autumn Statement

Debate between Anne Marie Morris and George Osborne

Tuesday 29th November 2011 Commons Chamber

[Mr Osborne]

I know that the previous Government were

“intensely relaxed about people getting filthy rich”.

We are introducing transparency in pay. We are bringing regulations before the House to force banks to disclose the incomes of their eight highest paid employees. We are also consulting on high pay more generally. We have introduced the bank levy, which the previous Government failed to introduce in 13 years and which the shadow Chancellor could have introduced when he was City Minister, but never did.

[Anne Marie Morris (Newton Abbot) (Con)]

I congratulate the Chancellor on his support for micro-businesses, which, as he well knows, I extensively champion. The extension to small business relief is great and the new seed enterprise investment scheme is fantastic. Can we hope to have more focus on the very important tiny companies that are too often overshadowed by the big brother SMEs? They are the area for new jobs and for growth in the economy.

[Mr Osborne]

My hon. Friend is indeed a powerful champion of micro-businesses. She has spoken to me about them on a number of occasions in the past year. We have set out a number of measures that will help such businesses, including the rate relief holiday, the seed investment scheme and the support for innovation. We are consulting and having a call for evidence specifically on compensated no-fault dismissal for firms of fewer than 10 employees.