Autumn Statement

Debate between George Osborne and Gavin Williamson

Wednesday 5th December 2012 Commons Chamber

[Mr Osborne]

Capital spending is higher than the level in the plans that we inherited from the last Labour Government. That is simply the case. We inherited big planned cuts in capital spending, and we have increased capital spending, off those plans. We have that new money for schools, and I would hope that the hon. Lady would welcome that.

[Gavin Williamson (South Staffordshire) (Con)]

Can my right hon. Friend confirm that someone earning £10,000 who would have paid £1,180 in national insurance contributions and income tax in 2010-11 will pay £380 in 2013-14? Does that not show that Government Members support people and families on low incomes, unlike the Labour party?

[Mr Osborne]

My hon. Friend speaks very powerfully about the way in which we have helped people. We have helped basic rate taxpayers by increasing the personal allowance, we have taken 2 million of the lowest paid out of work, and we have halved the income tax bill for people on the minimum wage; but, above all, we have helped working families throughout the country with a further income tax cut today.

Oral Answers to Questions

Debate between George Osborne and Gavin Williamson

Tuesday 6th March 2012 Commons Chamber

[Gavin Williamson (South Staffordshire) (Con)]

11. What fiscal steps he is taking to encourage job creation in the private sector.

[The Chancellor of the Exchequer (Mr George Osborne)]

We are making businesses more competitive by cutting business taxes, helping work pay by increasing the personal allowance and introducing universal credit, and helping unemployed people into work through our Work programme and work experience.

[Mr Osborne]

I will not pre-empt any Budget announcements, but I will say that we have extended small business rate relief to 2013. We announced that in November, and it will help more than half a million small businesses, and we have also introduced a deferral scheme to help larger businesses with their cash flow, so we are doing other things as well as reducing corporation tax—a further reduction in corporation tax is planned for April, of course—and cutting the small companies tax rate, which was due to go up under the previous Labour Government.

[Gavin Williamson]

The recent changes in research and development tax credits will provide a major boost for hi-tech manufacturing businesses based in my constituency and near it, such as Moog and Goodrich. What more can my right hon. Friend do to help generate more high-skilled, well-paid jobs in the manufacturing sector?

[Mr Osborne]

I have been very encouraged to hear about the success of companies in my hon. Friend’s constituency, including the two that he mentioned. We will provide further details later this year on the R and D “above the line” tax credit, on which we have listened to representations from industry and Members of Parliament. In the vicinity of my hon. Friend’s constituency, we also have the enterprise zone i54, which will start up in April. More generally, this is a week when 20,000 new jobs have been announced by Tesco and we have heard the great news that Nissan will produce a new car in the UK. There are some encouraging developments in the British economy.

Autumn Statement

Debate between George Osborne and Gavin Williamson

Tuesday 29th November 2011 Commons Chamber

[Mr Osborne]

If the hon. Gentleman has specific proposals on credit insurance, I will be very happy to look at them. When it comes to credit easing more broadly, I have set a £40 billion envelope, although I have committed only £21 billion today, as it covers the two schemes that were ready to go: the national loan guarantee scheme and the business finance partnership. We are looking at partnership schemes and other things that might work within the envelope, and of course we are vigilant about conditions in the broader economy—including issues such as trade finance—that might be affected by the eurozone crisis.

[Gavin Williamson (South Staffordshire) (Con)]

I am sure that the Chancellor is aware that Jaguar Land Rover is currently constructing an engine plant in an enterprise zone in my constituency of South Staffordshire. Does he agree that measures on enterprise zones, R and D tax credits and infrastructure development will help the continued manufacturing revival?

[Mr Osborne]

Yes, I of course agree with my hon. Friend. Again, another success story at the moment is the car industry. I am absolutely delighted by Jaguar Land Rover’s announcement, which is a real vote of confidence in the UK—the company could have constructed that engine plant elsewhere in the world. The announcements that I have made on R and D above-the-line tax credits will also help larger companies do their R and D in Britain.

Oral Answers to Questions

Debate between George Osborne and Gavin Williamson

Tuesday 8th February 2011 Commons Chamber

[Gavin Williamson (South Staffordshire) (Con)]

T8. Will my right hon. Friend join me in welcoming the decision by Moog Aircraft, which is based in my constituency, to invest millions of pounds in a new site to replace its old factory, securing 400 jobs in South Staffordshire? After 13 years of Labour’s decline in manufacturing, is this not a further sign that we are now seeing a manufacturing recovery?

[Mr Osborne]

My hon. Friend makes an excellent point. I join him in congratulating the company on its announcement. Under the last Labour Government the share of the economy taken by manufacturing halved; under this Government we are seeing a manufacturing revival.

Comprehensive Spending Review

Debate between George Osborne and Gavin Williamson

Wednesday 20th October 2010 Commons Chamber

[Mr Osborne]

The hon. Gentleman, who is a member of the Treasury Committee, knows that the budget deficit was threatening the economic stability of the country. He also knows that his party proposed to eliminate the structural deficit over a slightly longer period than we propose. That, however, would not have reduced the scale of the cuts; it would merely have prolonged them. A structural deficit is a deficit that does not return when the economy grows. That is the definition of a structural deficit.

We are investing in road projects, and in housing projects: we are providing 150,000 new homes. The hon. Gentleman probably has not had time to study the document, but the capital cuts that have been set out today are less than the capital cuts in the March Budget presented by the Labour party.

[Gavin Williamson (South Staffordshire) (Con)]

Will my right hon. Friend assure the House that, unlike the Labour party, which abandoned Prudence after two years of government and pursued the policies of economic recklessness, he will continue to hold Prudence close to his heart to ensure that we have long-term stability and growth?

[Mr Osborne]

I can assure my hon. Friend that I am planning a long-term relationship with Prudence.