(14 years ago)
Commons ChamberI am certainly not going to let the hon. Gentleman know of my intentions in advance, but it is characteristic of the attitude on his side of the House that Opposition Members do not have a single question to ask that offers a proposal for dealing with the economic problems that they caused. It is economic common sense on the Government side of the House; just nonsense on the Opposition side.
Many jobs today require a university degree, yet compared with the position on funding employees’ vocational training, there is no equivalent tax shield for employer contributions to higher education. Will the Chancellor explore changes to tax rules to encourage voluntary contributions from employers towards their graduate recruits’ higher education?
My hon. Friend raises a good point. That is something on which we are seeking official advice, and I will keep him informed of any progress that we make on it.
(14 years, 1 month ago)
Commons ChamberUrgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
This information is provided by Parallel Parliament and does not comprise part of the offical record
The hon. Gentleman makes an important point. The crisis is around the banking system in Ireland—it is not a fiscal crisis. Of course, we almost had to learn the lessons of failure to regulate the banking system. The Government therefore introduced radical reforms to strengthen the stability of the banking sector in the UK.
Does the Financial Secretary accept that it would be a disservice to families and businesses in Ireland to exaggerate their economic woes, just as it would be in this country?
(14 years, 2 months ago)
Commons ChamberWe are clear about what we need to do to sort out the last Labour Government’s terrible legacy—a Government, incidentally, who left unemployment higher than when they took office. We will stick to our economic plan, which, as we have heard, the IMF and the OECD think is the right one, and it is the plan that stands alone, because the Labour party simply has no alternative.
Among her responses to the spending challenge, will the Minister bring into line the Local Government (Early Termination of Employment) (Discretionary Compensation) Regulations 2006, which have enabled four former Wiltshire council bosses to share remuneration of almost £2 million in their final 12 months in office?
We are looking at a range of ways we can ensure that we get the most value from every pound of taxpayers’ money, and we will stop at nothing to make sure that we get there in the end. We are going through a difficult process with many difficult decisions, but we aim to ensure that all of them are tough, but still fair.
(14 years, 5 months ago)
Commons ChamberThe hon. Lady is right to raise the issue of charities; in fact it is an issue in which we have taken a great interest coming into government. I hope she will welcome the fact that we are continuing with the gift aid forum, which brings together a range of people interested in charities and charity tax to look at how we can stimulate gift aid and make it more effective over the coming years. The hon. Lady is also right about the impact of VAT on charities, but we have to sort out the economic mess the last Government left us, and the best way to sustain the funding of charities is to make sure people have jobs and money in their pockets that they feel they can donate.
T2. Does the recent experience of changes in VAT rates support the assumption of both the Treasury and the Institute for Fiscal Studies that there will be full pass-through of the proposed increase in VAT, or might we reasonably hope that large retailers will shoulder some of the burden?
The assessment set out in the Red Book is that it is likely that two thirds will be passed on immediately and most of the rest will be passed on over the course of the next 12 months. In some cases retailers may bear some of the increase themselves, and we will obviously be studying the matter very closely.
(14 years, 5 months ago)
Commons ChamberI hope that the hon. Gentleman realises that there will be a consultation on that proposal in the autumn. I have no reason to believe that it will not be brought forward in the normal course of events with ordinary Government announcements. It is part of the coalition agreement and is widely welcomed. I believe that it was in both the Conservative and the Liberal Democrat manifestos, but not everything can be announced on day one. The overwhelming priority for this Budget has been to ensure that we can sustain growth and jobs by removing ourselves from the substantial and real risk of contagion from the financial crisis in southern Europe. That has been the overwhelming priority.
Given my right hon. Friend’s comments on the need to invest in the infrastructure needed for a low-carbon energy future, will he assure me that his Department’s investments in the south-west wave hub will endure and survive the current turbulence associated with the machinery of government of its sponsor body?
I thank my hon. Friend for that question. Obviously, he knows that we will go through the comprehensive spending review in the autumn, and the normal process is to make announcements when we have been through that, but I have no reason to doubt that the Government’s commitment to the support of infant wave, tidal stream and wind technologies will continue and I am confident that there will be announcements reflecting that priority, which is in the coalition agreement.