Oral Answers to Questions
Debate between George Osborne and James Clappison(10 years, 7 months ago)
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Mr Osborne
The hon. Gentleman has asked me about that matter at previous Treasury questions and I know that he takes a keen interest in it. He wrote to thank me for the measure in the Budget to include crowdfunding vehicles in individual savings accounts. That is an important step to support this new sector.
Mr James Clappison (Hertsmere) (Con)
As the Government’s long-term economic plan unfolds successfully, will my right hon. Friend consider giving further encouragement to savers through ISAs? Savers have warmly welcomed the greater flexibility that he has introduced with the new ISA regime.
Economic Policy
Debate between George Osborne and James Clappison(11 years, 9 months ago)
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Urgent 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
Mr Osborne
Unless the hon. Gentleman can find anyone else to blame for the fact that there was an 11.5% budget deficit—[Interruption.] That was what we inherited from Labour, and we have cut it by a quarter. That just shows how economically illiterate Labour Back Benchers are.
Mr James Clappison (Hertsmere) (Con)
As matters stand today, the gilts market is flat, the stock market is going up, and the cost of Government borrowing stands at historically low levels. What does my right hon. Friend believe will be the impact on the cost of Government borrowing if they borrowed even more, if the deficit was going up rather than down, if the national debt was thereby being added to, and if we followed the kamikaze economics advocated by Opposition Front Benchers?
Eurozone Crisis
Debate between George Osborne and James Clappison(13 years, 1 month ago)
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Mr James Clappison (Hertsmere) (Con)
I welcome my right hon. Friend the Chancellor’s approach, including his recognition that the division of responsibilities between the EU and member states has become unbalanced. Does he agree that the new proposals for fiscal integration and mutual control in the eurozone do nothing to reduce the case for a rebalancing of those responsibilities?
Oral Answers to Questions
Debate between George Osborne and James Clappison(14 years, 6 months ago)
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Mr James Clappison (Hertsmere) (Con)
Does not part of the contribution to the EU budget result from the surrender of the UK rebate in 2005 by the previous Government, which will cost taxpayers in this country up to £9 billion over six years and was given in return for nothing? Should we not add that to the Chief Secretary’s list of waste by the previous Government?
Mr Osborne
My hon. Friend is absolutely right. The former Prime Minister Tony Blair gave away the UK’s budget rebate in return for absolutely nothing. We were promised at the time that it would give us leverage over CAP reform, which never arrived, and I am afraid that that is just one of the many decisions that the previous Government got wrong.