Oral Answers to Questions

Debate between Chi Onwurah and David Gauke

Tuesday 17th January 2017 Commons Chamber

[Mr Gauke]

I am delighted to join my hon. Friend in congratulating Scientifica, and I am happy to make that pledge. At the spending review, we committed to a £175 million reinvestment in UK Trade & Investment, now part of the Department for International Trade, to drive UK exports. We remain committed to ensuring that UK exporters receive world-class support. Indeed, as the Prime Minister will make clear today, maintaining the UK as one of the best places in the world for science and innovation is a priority for us.

[Chi Onwurah (Newcastle upon Tyne Central) (Lab)]

On Friday, I visited Wirecard, an innovative financial technology company in the emerging payments sector; it is based in Newcastle. It is concerned that leaving the European single market, and in particular the passporting rights, will diminish investment in fintech, an area in which this country leads, and which is growing in Newcastle and the north-east. What reassurance will the Minister give Wirecard?

[Mr Gauke]

As the hon. Lady will be aware, the Prime Minister will have just begun making a speech on this matter, and my right hon. Friend the Secretary of State for Exiting the European Union will make a statement to the House later. Let me just say that the UK is in a very strong position on fintech, and on ensuring that this successful sector is a priority. Indeed, the Minister for Trade and Investment, my right hon. Friend the Member for Chelsea and Fulham (Greg Hands), led a delegation of 33 companies to India, where the focus was, among other things, on this sector and promoting the best of British businesses. We will continue to ensure that the UK remains a strong place for the sector.

Oral Answers to Questions

Debate between Chi Onwurah and David Gauke

Tuesday 25th October 2016 Commons Chamber

[The Chief Secretary to the Treasury (Mr David Gauke)]

No UK taxpayers’ money has been used in the EU’s lending to other member states. Only in the event of default would the UK be asked to pay its share.

[Chi Onwurah (Newcastle upon Tyne Central) (Lab)]

What impact has the Secretary of State made of his predecessor’s austerity economics on the nation’s prosperity and would he like to apologise for that divisive and discredited ideology?

Oral Answers to Questions

Debate between Chi Onwurah and David Gauke

Tuesday 27th January 2015 Commons Chamber

[Chi Onwurah (Newcastle upon Tyne Central) (Lab)]

T6. This Government are demonising those on benefits, while doing little about tax evasion and avoidance, which, as we have heard, have risen significantly on their watch. Today sees the launch of the Tax Dodging Bill campaign, as 85% of British adults say that tax avoidance by large companies is morally wrong, even when it is legal. Why will the Chancellor not impose penalties for breaches of the general anti-avoidance rule, as we have called for?

[The Financial Secretary to the Treasury (Mr David Gauke)]

First, it was this Government who got the base erosion and profit shifting process running with the OECD, looking to deal with the international rules. It was this Government who announced at the autumn statement that we are bringing in a diverted profits tax to deal with some of the contrived and artificial behaviours that people are worried about. It was also this Government who introduced the general anti-abuse rule and it is this Government who are consulting on bringing in penalties for it. I have to say, it is not a bad record.

Oral Answers to Questions

Debate between Chi Onwurah and David Gauke

Tuesday 26th June 2012 Commons Chamber

[Mr Gauke]

I am grateful to my hon. Friend for raising that point and I am happy to look into the case. HMRC’s record in dealing with end-of-year reconciliations and improving accuracy is moving in the right direction, but there is more to do.

[Chi Onwurah (Newcastle upon Tyne Central) (Lab)]

15. What representations he has received on the treatment of different savoury products for the purposes of levying VAT.

[The Exchequer Secretary to the Treasury (Mr David Gauke)]

HMRC is shortly to publish on its website a summary of the responses to its consultation, “VAT: Addressing borderline anomalies”. The response document will contain a list of those who contributed to the consultation.

[Chi Onwurah]

As I am sure you know, Mr Speaker, Newcastle is the home of the Greggs pasty, so I was hopeful that the Chancellor’s latest U-turn but one would have resolved the great savouries shambles, but now I learn that he has turned his wrath on the pretzel sellers of Newcastle, including Auntie Anne’s in Eldon Square. Could the Chancellor possibly focus on bringing growth to the economy, rather than confusion to our eating habits?

[Mr Gauke]

I am sure the hon. Lady is aware that Greggs welcomed what we said about hot food. None the less, there has been an anomaly in the tax system whereby some hot foods have been treated differently from others. We are seeking to remove that anomaly and that is exactly what we are doing.

Oral Answers to Questions

Debate between Chi Onwurah and David Gauke

Tuesday 6th March 2012 Commons Chamber

[Mr Gauke]

So he is an ex-Harry Redknapp fan.

Complexity in the tax code can provide opportunities for avoidance, but, equally, much of the complexity that exists is a consequence of attempts to crack down on avoidance. The Government have set up the Office of Tax Simplification, and we are determined to do what we can to simplify the code and address avoidance and evasion.

[Chi Onwurah (Newcastle upon Tyne Central) (Lab)]

Stamp duty land tax avoidance schemes cost the Exchequer hundreds of millions of pounds a year, but my questions on the subject have been met with complete complacency by Ministers. I was told:

“HM Revenue and Customs… is aware of a number of marketed… schemes. HMRC considers that none of the schemes… is effective in reducing… liability”.—[Official Report, 17 January 2012; Vol. 538, c. 708W.]

Now we hear that the Chancellor is going to crack down on such schemes. Which is it?

[Mr Gauke]

There are many marketed schemes that HMRC is convinced do not work, and that will be established in the courts. I suggest that those who are sometimes persuaded by claims that a particular scheme will work should treat them with caution. However, the Government are determined to crack down on stamp duty land tax avoidance. We took steps in the last Budget, we took steps in the autumn statement strengthening the disclosure regime, and there may well be more to come.

Oral Answers to Questions

Debate between Chi Onwurah and David Gauke

Tuesday 13th July 2010 Commons Chamber

[Mr Gauke]

If I may help my right hon. Friend, at the time of the Budget we did publish our Budget policy costings, setting out the exact details. That information is available to him, and it was, indeed, touched on in last night’s debate.

[Chi Onwurah (Newcastle upon Tyne Central) (Lab)]

T3. The Chief Secretary justifies massive cuts to the public sector through fears of a sovereign debt crisis as the credit rating agencies downgrade our debt, but those same agencies were giving triple A ratings to junk financial instruments right up to the crash. Can he explain whether credit rating agencies, discredited as they are, or Tory ideology is driving these cuts?