Surplus Target and Corporation Tax

Debate between George Osborne and Tom Brake

Monday 4th July 2016 Commons Chamber

[Mr Osborne]

I do not think that the business community wants higher business taxes, which is the Labour proposal. When it comes to major transport investments, we are making them. Labour was in office during all those years when money was apparently coming in, but where were the major investments in the railways and the roads? Labour Members complain about our energy investments, but where are the power stations that were opened under the Labour Government? The more we look at that period of our economic history, the more we can see what a massive missed opportunity it was.

[Tom Brake (Carshalton and Wallington) (LD)]

I am disappointed that none of the leading leave campaigners is here to listen to what the Chancellor has to say about the impact of Brexit. Will he put the economy on a war footing to stave off a recession? Will he invest in infrastructure, particularly housing, and prioritise support to small and medium-sized businesses through the British Business Bank, which was set up by the Liberal Democrats in coalition, so that innovative companies will continue to receive support if bank lending dries up?

[Mr Osborne]

The British Business Bank—which was created under a policy announced by me at this Dispatch Box—is working successfully, and I pay tribute to Liberal Democrat colleagues in the coalition Government for helping us to deliver it. Of course it has an important role to play in the future. The right hon. Gentleman is right, in the broader sense, to say that we need to look at what we can do to support demand and credit in the economy. The Bank of England has many tools, and the Governor of the Bank has already indicated that, in his personal opinion, we should be looking at monetary easing.

Spending Review and Autumn Statement

Debate between George Osborne and Tom Brake

Wednesday 25th November 2015 Commons Chamber

[Tom Brake (Carshalton and Wallington) (LD)]

I welcome the Chancellor’s decision to scrap tax credit cuts. Does he intend apologising to the people who were unnecessarily scared by his original plans, and does he intend disciplining his peers in the House of Lords who, had they supported the Liberal Democrat motion there, would have saved him from this embarrassing U-turn?

[Mr Osborne]

I said that I would listen and I have—I thought the right hon. Gentleman would welcome the fact that cuts in this Parliament under this spending review will be half what they were in the previous Parliament. Now that we are freed from the shackles of the Liberal Democrats, we can invest even more in our public services.

Oral Answers to Questions

Debate between George Osborne and Tom Brake

Wednesday 17th June 2015 Commons Chamber

[Mr Osborne]

My hon. Friend has raised with me the case of the particularly slow rail service to Weymouth and Portland, and we will look into it. We are making a massive commitment to the south-west—a £7 billion programme, which is the biggest ever commitment of infrastructure to the south-west—and I will look to see what we can do to improve the rail service for his constituents so that we properly connect up the south-west.

[Tom Brake (Carshalton and Wallington) (LD)]

The Chancellor will be aware that under the coalition, £219 million was allocated to rebuilding St Helier hospital. Will he restate the commitment to that funding so that we can save St Helier?

[Mr Osborne]

We did commit to that hospital project, and provided that it continues to represent value for money, which I am pretty clear that it does, we will go on providing that support. What we have done is to commit to the Simon Stevens plan for the national health service—an additional £8 billion of NHS spending —which we can only do if we have our public finances in better order and we are growing our economy, which is precisely what we are doing.

Oral Answers to Questions

Debate between George Osborne and Tom Brake

Tuesday 22nd March 2011 Commons Chamber

[Tom Brake (Carshalton and Wallington) (LD)]

T1. If he will make a statement on his departmental responsibilities.

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

The core purpose of the Treasury is to ensure the stability of the economy, promote growth and jobs, reform banking and manage the public finances so that Britain finally starts to live within her means.

[Tom Brake]

More than 1,500 people in Sutton will be taken out of paying income tax altogether from next month as a result of the increase in the tax threshold. What estimate has the Chancellor made of the number of people who will be taken out of paying tax altogether in 2015, when the tax threshold is increased to £10,000?

[Mr Osborne]

I think my hon. Friend is getting a little ahead of himself. The commitment is to a real-terms increase in the personal tax allowance in each and every year. People will have to wait for the Budget tomorrow. The increase of £1,000 in the personal tax allowance has taken 900,000 people of out of tax.

Oral Answers to Questions

Debate between George Osborne and Tom Brake

Tuesday 12th October 2010 Commons Chamber

[Mr Osborne]

I have concluded that it is very sensible for the serving Chancellor of the Exchequer of the day not to comment on the value of currencies.

[Tom Brake (Carshalton and Wallington) (LD)]

T10. When the Chancellor and the Chief Secretary consider how to address the huge budget deficit they inherited from Labour, will they not lose sight of the importance of investing in affordable housing, specifically to ensure that homes meet the decent homes standard?

Oral Answers to Questions

Debate between George Osborne and Tom Brake

Tuesday 8th June 2010 Commons Chamber

[Mr Osborne]

I have had several conversations with my right hon. Friend the Secretary of State for Work and Pensions on this issue and on the broader issues of welfare reform. I broadly agree with the point that the hon. Gentleman makes—he made it forcefully in the last Parliament—that support for children in the early years can yield real results later on. We will bear that in mind as we conduct our spending review.

[Tom Brake (Carshalton and Wallington) (LD)]

T2. While the Chancellor is reviewing the projects agreed by the previous Government since 1 January, may I commend to him the Better Healthcare Closer to Home programme and the plans that it has for St Helier hospital? May it draw it to his attention that the plans were very enthusiastically endorsed by the new Secretary of State for Health when he visited my constituency just a couple of days before the general election?