Surplus Target and Corporation Tax
Debate between George Osborne and Baroness Laing of Elderslie(8 years, 5 months ago)
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Mr Osborne
My hon. Friend rightly says that as well as reducing corporation tax rates, we did a lot to reduce some of the reliefs that have been used—and some that have been abused. Broadly speaking, that is the right direction of travel for our tax system.
Madam Deputy Speaker (Mrs Eleanor Laing)
The prize for patience goes to Nigel Mills.
Nigel Mills (Amber Valley) (Con)
That is not a prize I get often. I welcome the Chancellor’s decision to further reduce the rate of corporation tax—I called for it in the Budget debate last week, so I ought to welcome it. To get the most benefit out of that, we need to simplify our business tax system further to make it more attractive. Will he therefore agree to hold a review to try to make our system as simple as it can be?
Eurozone Crisis
Debate between George Osborne and Baroness Laing of Elderslie(13 years, 1 month ago)
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Mr Osborne
I would hope that we would persuade all parties in this House. There is certainly strong agreement on the Conservative Benches that we want to rebalance the responsibilities and repatriate some powers. The Liberal Democrats and the Liberal Democrat leader have talked about rebalancing responsibilities—he did so earlier this week. [Interruption.] The shadow Treasury Minister, the hon. Member for Nottingham East (Chris Leslie), seems to forget the position set out by his party leader this weekend. When he was asked whether he thought that Brussels had too much power, he said no. That is the official position of the Labour party going into these negotiations. I know that Opposition Members look pretty glum about it, but that is what the leader they chose—or rather, they did not choose—has done for them.
Mrs Eleanor Laing (Epping Forest) (Con)
Will the Chancellor explain to the House how it has come about that although the United Kingdom’s deficit this year is larger than Greece’s, our interest rates are similar to those in Germany?