(7 years, 7 months ago)
Commons ChamberWe recognise the importance of infrastructure provision in all regions of the United Kingdom. That is why at autumn statement 2016 we committed additional capital to fund high-value economic infrastructure through the national productivity investment fund. We are committed to putting local and regional needs at the heart of this fund. For example, we are spending £1.1 billion on local projects to improve our existing transport networks. That will deliver improvements to hundreds of roads across the country.
What further help can my right hon. Friend give to infrastructure projects in Southend West, including the A127 corridor improvement works?
My hon. Friend is a tireless advocate of the case for Southend. Indeed, we met in November to discuss some of these issues. It is worth pointing out that the Government have supported improvements to the A127, with more than £35 million of local growth funding. Furthermore, local authorities will have the opportunity to bid into the £490 million local transport pot as part of the national productivity investment fund.
(8 years, 10 months ago)
Commons Chamber12. What recent representations he has received on proposed changes to Her Majesty’s Revenue and Customs’ regional centres.
HMRC announced its future location strategy on 12 November. As I have previously stated, delivering that strategy will help HMRC to deliver more for less and reduce its estate costs by £100 million per year by 2025. Both HMRC and I have received a number of representations from interested parties, most recently from my hon. Friends the Members for Rochford and Southend East (James Duddridge) and for Southend West (Sir David Amess).
Following my hon. Friend’s meeting with me and my hon. Friend the Member for Rochford and Southend East (James Duddridge), will he reflect further on the points made about Southend becoming a regional centre? Whatever changes are made in the future, will he ensure that the hard-working, dedicated and loyal staff of Alexander House are treated well?
(8 years, 11 months ago)
Commons Chamber12. What plans he has to raise the personal allowance during this Parliament.
The Government are committed to raising the income tax personal allowance from £10,600 to £12,500 by the end of this Parliament. This is alongside our commitment to raise the higher rate threshold to £50,000. More than 30 million individuals will benefit from these changes. The summer Budget 2015 confirmed that the personal allowance will increase to £11,000 in 2016-17, and to £11,200 in 2017-18.
In the light of what my hon. Friend has said, will he reassure me that, as the economy continues to recover and grow, the Government will follow the sound Conservative principle of allowing people to keep more of the money they earn to spend as they wish?
(12 years, 7 months ago)
Commons ChamberAs financial advice, I am not sure it is necessarily wise to dismantle and then rebuild a listed building to make a saving, but there is an anomaly in the tax system: people pay VAT for a repair on a listed building, but they do not pay VAT for an alteration. That does not seem right.
T7. What action have the Government taken to prevent multinationals from funnelling their profits into tax havens, as some do, rather than paying their taxes to the developing countries where they have subsidiaries?
The Government have taken great action to increase tax transparency, and on ensuring that there is more of an exchange of information between jurisdictions. We have taken action to prevent Switzerland, for example, being used as a place to facilitate tax evasion. In addition, Her Majesty’s Revenue and Customs provides considerable support to developing countries to improve their capability and capacity to collect tax revenues, which are very important.
(12 years, 8 months ago)
Commons ChamberAs I have said, Northern Ireland tourism is doing well at present. Were we to pursue a relief along the lines adopted in the Republic of Ireland, it would involve a cost of some £8 billion, £9 billion or perhaps even £10 billion, which would have to be made up for by higher taxes or spending cuts elsewhere.
8. What steps he is taking to reduce tax avoidance and evasion.
The Government are determined to tackle tax avoidance and evasion and ensure that the tax system operates fairly for all. By closing down two aggressive avoidance schemes on 27 February, we have demonstrated that we are prepared to take bold action to counter avoidance. The Government’s commitment has been underlined by their reinvestment of £917 million in Her Majesty’s Revenue and Customs, which will bring in additional revenues of £7 billion a year by 2014-15.
The United Kingdom has the longest tax code in the world. It has 11,500 pages, and is 10 times longer than “War and Peace”. Does my hon. Friend agree that any simplifying measures would be welcome, as they would reduce tax avoidance and evasion and would prevent further ridiculous trials such as that of Harry Redknapp? I always thought that he was innocent, because he is such a good football manager,
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.