European Council

Chris Leslie Excerpts

Monday 21st March 2016 Commons Chamber

[The Prime Minister]

It is important that our agencies work together. On the whole, that will be on a bilateral basis, but it is worth understanding that in the modern European Union, there are a series of mechanisms to do with criminal records, border information, watch lists and passenger name records, all of which help to keep us safer than we would otherwise be. To be completely fair, if we left the EU we could try to negotiate our way back into some of those things, but it would take time, and this prompts the question: if you want to get back into them, why are you getting out of them?

[Chris Leslie (Nottingham East) (Lab/Co-op)]

Will the Prime Minister now justify the nearly £3 billion giveaway in capital gains tax for the wealthy?

[The Prime Minister]

I think it is right to cut capital gains tax, because we want to have an enterprising economy in which entrepreneurs want to get out there, set up businesses, and create wealth and jobs to generate the tax revenues that pay for the health service and the schools that we want for our country. I note that the capital gains tax rate, at 20%, will be a little bit higher than it was when the hon. Gentleman was last in government. Because we are not cutting it for carried interest, we will not have to face the absurd situation we had when he was in government in which people working in the City were paying less tax than the people who cleaned their offices.