Greece

Debate between George Osborne and Chris Heaton-Harris

Monday 29th June 2015 Commons Chamber

[Mr Osborne]

As I say, the primary responsibility lies with the eurozone and the European Central Bank, and they have put in place better mechanisms than they had three or four years ago. The European Central Bank has its outright monetary transactions mechanism, we have the European stability mechanism—in other words, bail-out funds—and the European Central Bank is also taking a supervisory role, so they are better prepared. However, I was very clear in my statement that however well prepared they are, a Greek exit from the euro would be a substantial financial shock, which would have an impact on the European financial system and on us. That is why we have taken steps to make sure our banking system is better prepared than it was seven or eight years ago.

[Chris Heaton-Harris (Daventry) (Con)]

There are no provisions in European treaties for a country to leave the euro, let alone to leave the euro and stay within the EU, so should Greece leave the eurozone, will not European treaties need swift and significant amendment?

[Mr Osborne]

As is often the case, my hon. Friend has gone to one of the interesting points in this whole issue. The best thing to do at the moment is to see how things unfold in the next few weeks, but it is fair to say that there is not an easy and clear mechanism for Greece to leave the euro.

EU Budget (Surcharge)

Debate between George Osborne and Chris Heaton-Harris

Monday 10th November 2014 Commons Chamber

[Mr Osborne]

It was not clear that this exceptional demand for a payment would have the British rebate applied or indeed to what extent the rebate would be applied. The amount was confirmed to us only last Thursday evening.

[Chris Heaton-Harris (Daventry) (Con)]

Is the Chancellor surprised by the number of EU budget experts who now seem to be appearing on the Opposition Benches? Does he, like me, wonder where they all were when former Chancellors were happily signing off flawed EU accounts or giving away our rebate?

[Mr Osborne]

My hon. Friend is absolutely right; they gave into all Europe’s demands and handed over more and more British taxpayers’ money. They were neither wise before this event, nor particularly wise after it.

Oral Answers to Questions

Debate between George Osborne and Chris Heaton-Harris

Tuesday 28th January 2014 Commons Chamber

[Mr Osborne]

I am glad that the hon. Gentleman welcomes the better news. Indeed, I think that unemployment in his constituency has fallen by 20%, which is further good news. It is the first time in years that I have heard him try to defend the record of the right hon. Member for Kirkcaldy and Cowdenbeath (Mr Brown): since he is not here, the hon. Gentleman has to do it for him.

The point that the hon. Gentleman makes about crowdsourcing is a serious one. We are looking at this new market and at what, if anything, the Government should do to support it. It is of course growing without Government support, but we are actively looking at it, and I would very happily consider any positive suggestions he has on what more we can do to support crowdfunding.

[Chris Heaton-Harris (Daventry) (Con)]

5. What recent steps he has taken to reduce income tax.

IMF

Debate between George Osborne and Chris Heaton-Harris

Monday 23rd April 2012 Commons Chamber

[Mr Osborne]

There is not much danger of my being influenced by the shadow Chancellor’s flip-flopping. My hon. Friend draws to our attention the interesting point that the Australian Liberal party, which is hardly the most Europhile party in the world, understands that Australia has obligations to the international community and to the IMF. Given that Australia is prepared to make a contribution, it would be quite odd if Britain was not.

[Chris Heaton-Harris (Daventry) (Con)]

May I congratulate the shadow Chancellor on his epic exploits yesterday? I note that he kept on message by going neither too far, nor too fast.

I voted for the loan and believe that it would have been bizarre had the Chancellor not offered a loan of the level agreed to by Parliament. Will my right hon. Friend guarantee that he will come back to this place and ask for Parliament’s assent should more funds be asked for?

Eurozone

Debate between George Osborne and Chris Heaton-Harris

Monday 10th October 2011 Commons Chamber

[Mr Osborne]

I think the parrot was a Norwegian blue, and Norway is not in the euro.

[Chris Heaton-Harris (Daventry) (Con)]

Although the Chancellor is completely focused on the eurozone crisis, I am sure that it will not have slipped his notice that meanwhile the European Commission and the European Parliament are asking for more regulation and more money. Could he please instruct his officials to ensure that, while negotiations on these very important matters regarding the eurozone are going on, we kill some of the bad ideas that are flowing from elsewhere in Europe?

Bank Bonuses

Debate between George Osborne and Chris Heaton-Harris

Tuesday 11th January 2011 Commons Chamber

[Mr Osborne]

“It says here.”

What I would say is that we have introduced the code of practice, which extends the coverage of the code to 2,500 firms rather than 25. We are taking that action, and as I have said, we are also seeking a lower bonus pool than existed when the party that the hon. Lady supports was in government last year. That is a sensible step forward in the current climate.

[Chris Heaton-Harris (Daventry) (Con)]

Is it not a shame that the something-for-nothing deal that was done goes far beyond just bankers’ bonuses, and has meant that small businesses in my constituency have to struggle to get a continuation of a line of credit? Can the Chancellor help me in my dealings with NatWest in this particular process in relation to a number of small businesses in Daventry?

[Mr Osborne]

Of course I shall be happy to look at my hon. Friend’s constituency case. He highlights the central issue that the previous Government completely failed to address: how to increase lending to the small and medium-sized business sector. That is one of our central economic objectives; that is why we are in discussions with the banks. The previous Government achieved nothing in that regard; we hope to achieve something, and we will come to the House and report on our progress.

Financial Assistance (Ireland)

Debate between George Osborne and Chris Heaton-Harris

Monday 22nd November 2010 Commons Chamber

[Mr Osborne]

I thank the right hon. Gentleman for the support that he has given to the action that we have decided to take today. He will know that my right hon. Friend the Northern Ireland Secretary is pursuing with vigour the subject of Northern Ireland’s economic environment and business environment, the corporation tax rate and so on, and we are coming forward with plans to stimulate the Northern Ireland economy. Specifically, the Northern Ireland Secretary and my hon. Friend the Financial Secretary to the Treasury will be in Northern Ireland later this week to talk principally about what is going on this week, but I am sure they can have discussions about broader issues as well.

[Chris Heaton-Harris (Daventry) (Con)]

As much as I am uncomfortable with the fact that we are bailing out a eurozone country, I have to concur that it is overwhelmingly in our national interest to do so. After 13 years on the sidelines, it is nice to see us playing a central part in negotiations that affect eurozone countries and the IMF. Can my right hon. Friend reassure the House that the UK will commit resources to Ireland only if we are confident that Ireland is able to grow its way out of trouble and pay our money back?

[Mr Osborne]

I thank my hon. Friend for his support, and the answer to his question is yes.