Inheritance Tax: Family-owned Businesses
Graeme Downie Excerpts(4 days, 14 hours ago)
Westminster HallRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Graeme Downie (Dunfermline and Dollar) (Lab)
I congratulate the hon. Lady on securing this debate on a very important issue. Like herself, I have spoken to GAP, as well as other family businesses in my constituency. Does she agree that although the Government are absolutely right to ensure that we have enough funding to pay for public services through tax changes, one option might be to allow businesses to pay inheritance tax in the way proposed if that business is passed on to another family member, so that the tax liability is still met, but in a way that does not impact on future generations and allows the businesses to succeed and thrive?
Susan Murray
It is important to look at all ways to make sure we have a system that does not cause the demise of family-owned businesses.
Spring Statement
Graeme Downie Excerpts(2 months, 1 week ago)
Commons ChamberRead Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
Rachel Reeves
I am proud of what GCHQ does to keep our country safe. Part of what we are doing around the defence budget, above the lift to 2.5%, is including some of the work of the Security Service that, increasingly, is crucial for our national security and defence. That is on top of the 2.5%. As we protect defence spending, it is right that we take into account GCHQ and other security agencies as well. I am very happy to work with the hon. Gentleman to ensure that we maximise the benefits for so many constituencies, including Cheltenham.
Graeme Downie (Dunfermline and Dollar) (Lab)
May I thank the Chancellor for her statement and welcome the increase in defence spending, which represents a huge opportunity for Scottish workers? I was delighted to have her visit Rosyth in my constituency recently. Will she work to ensure a continuous shipbuilding programme in this country to maximise the opportunities for Scottish workers? Does she agree that it is utterly shameful that those workers have been ignored by the SNP for the past 18 years? Also, will she confirm that this Labour Government will always value the role of shipbuilding for our economy and our national defence?
Rachel Reeves
I could not agree more with my hon. Friend. It is just a shame that there are no SNP members in the Chamber—although there are so few of them—to hear what he said. Perhaps my hon. Friend would write to the SNP and ask them why they refuse to back the defence sector in the United Kingdom and specifically in Scotland.
Oral Answers to Questions
Graeme Downie Excerpts(6 months ago)
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Darren Jones
The Government have no overall estimate of the impact of the UK’s exit from the EU, but the OBR has projected a 4% drop in productivity in the long term. That is why we are starting negotiations with the EU to improve trade in our mutual interest.
Graeme Downie (Dunfermline and Dollar) (Lab)
Darren Jones
The Government recognise that ports are an important route to growth, which is why the national wealth fund will deploy at least £5.8 billion into five priority manifesto sectors, including ports. I would be happy to meet my hon. Friend to discuss that specific constituency issue in due course.