Tax Avoidance (HSBC)

Debate between David Gauke and Tony Baldry

Monday 9th February 2015 Commons Chamber

[Mr Gauke]

HMRC has successfully run the time to pay arrangements over a number of years, which has provided support to a large number of small businesses up and down the country. Lord Green was a very good trade Minister—[Interruption.] Yes, “was”, because he is no longer a Minister, which may have escaped the notice of some Opposition Members. He was qualified to perform the role of trade Minister, and there is no evidence to suggest that he was involved in any of these activities.

[Sir Tony Baldry (Banbury) (Con)]

Will my hon. Friend clarify the fact that the previous Government introduced stamp duty intermediary relief in autumn 1997, and that the shadow Chancellor, who was then City Minister, extended that relief in 2007—relief that Labour now attacks? Is that a further example of confusion on the Opposition Benches about how to deal with tax avoidance?

[Mr Gauke]

My right hon. Friend makes a good point. That confusion was followed by the weekend’s confusion whereby countries that do not have a public central register—as opposed to other territories that do not have a public central register—are on a blacklist. Clearly the Labour party desires to say something about tax, but it is a pity that the bar is not set a little higher for it to say something sensible about tax.

Oral Answers to Questions

Debate between David Gauke and Tony Baldry

Tuesday 27th January 2015 Commons Chamber

[Mr Gauke]

We discovered this morning that in 2014 the UK was the fastest growing major western economy. Employment is at a record level and unemployment has fallen dramatically, contrary to the Opposition’s predictions—but, yes, we have got further to go to reduce the deficit, which is why we need a Government who are prepared to make difficult decisions. All that we have heard from the hon. Gentleman is that he is going to put up fees on gun licences, which is not going to solve the deficit.

[Sir Tony Baldry (Banbury) (Con)]

Am I right in thinking that under the charter for fiscal responsibility, to which everyone recently signed up, we have made it clear that part of the savings that we are going to make involves bearing down on tax avoidance? Indeed, we have set out clearly exactly where we are going to save every penny of the £30 billion that needs to be saved. How is it possible for anyone to sign up to a charter for fiscal responsibility without making it clear where they are going to make those savings?

[Mr Gauke]

My right hon. Friend is absolutely right; the Opposition have given no indication of the balance between tax and spending and how they are going to find that £30 billion. At a time when Labour Back Benchers are saying that Syriza shows the way while those on the Labour Front Bench apparently support a £30 billion fiscal tightening, all we get from the Opposition is chaos.

Oral Answers to Questions

Debate between David Gauke and Tony Baldry

Tuesday 9th December 2014 Commons Chamber

[Mr Gauke]

Our plans do not require us to raise taxes. [Interruption.] The shadow Chief Secretary, the hon. Member for Nottingham East (Chris Leslie), is heckling, but I have to say that when he was asked that question on television last week, he refused to rule out raising VAT. Our plans do not require taxes to rise, unlike—I have to say—those of the Labour party.

[Sir Tony Baldry (Banbury) (Con)]

Does my hon. Friend agree that a fair tax system should see everyone contributing to reduce the deficit, with those with the largest earnings making the largest contribution? Am I correct that the top 1% of taxpayers actually pay nearly 30% of all income tax receipts at present?

[Mr Gauke]

My right hon. Friend is correct in that assessment. That proportion is higher than occurred in any year under the previous Labour Government or, indeed, when the 50p rate was in place.

Changes to the Budget

Debate between David Gauke and Tony Baldry

Monday 11th June 2012 Commons Chamber

[Mr Gauke]

We think it right for sports nutrition products to be subject to the standard rate of VAT. VAT should be a broadly based tax, and we believe that our policy addresses an anomaly in the system that needed to be dealt with.

[Tony Baldry (Banbury) (Con)]

We had almost a full day’s debate on these measures, initiated by the Opposition, and the changes made by my hon. Friend are almost exactly the changes for which the Opposition asked. Given that my hon. Friend and his colleagues have listened to Opposition Members, would it not be rather better for them simply to say “Thank you” and sit down—as I say “Thank you” to the Chancellor and his colleagues for the changes in respect of VAT on listed places of worship?

[Mr Gauke]

We could live in hope, but I suppose that that was never going to happen.

Oral Answers to Questions

Debate between David Gauke and Tony Baldry

Tuesday 24th April 2012 Commons Chamber

[Mr Gauke]

No, the cut from 50p to 45p will have a direct cost in reduced income tax of about £100 million. As it happens, the indirect benefit of additional indirect taxes is likely to exceed that number.

[Tony Baldry (Banbury) (Con)]

It is important to remember, though, that for 12 out of the 13 years that they were in government, the Opposition thought it appropriate to have a top rate of tax at 40p. Is not the important thing the yield that is raised by the top rate of tax, not having a tax rate that is punitive just for the sake of having punitive taxes?

[Mr Gauke]

My hon. Friend is right. The Opposition had the 50p in place for only 36 days of the 13 years that they were in power. If a tax is judged on how much revenue it raised, the 50p rate was a failure.