18 Jeff Smith debates involving HM Treasury

Oral Answers to Questions

Jeff Smith Excerpts
Tuesday 7th May 2024

(6 months ago)

Commons Chamber
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Jeff Smith Portrait Jeff Smith (Manchester, Withington) (Lab)
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T10. The Chancellor recently claimed that £100,000 a year is not a huge salary. Does he realise how out of touch that sounds to families in my constituency who are working hard, earning much less than that and really struggling because they are paying 25% more for their weekly shop than they were two years ago, and whose mortgages soared after the Tories crashed the economy?

Jeremy Hunt Portrait Jeremy Hunt
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The hon. Gentleman knows perfectly well that he has taken my comments out of context. I will tell him what is really out of touch: the shadow Chancellor saying it is not a big deal if inflation falls.

Oral Answers to Questions

Jeff Smith Excerpts
Tuesday 19th December 2023

(10 months, 3 weeks ago)

Commons Chamber
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Jeremy Hunt Portrait Jeremy Hunt
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Because the way we return the overseas aid budget to 0.7% is to grow the economy. By cutting national insurance, we put nearly 100,000 more people into the national workforce, filling nearly one in 10 vacancies in companies up and down the country.

Jeff Smith Portrait Jeff Smith (Manchester, Withington) (Lab)
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7. What recent steps he has taken to help ensure people have access to banking services.

Bim Afolami Portrait The Economic Secretary to the Treasury (Bim Afolami)
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The Government believe that all customers should have appropriate access to banking services, which is why we have legislated to protect access to cash. We also support the FCA’s bank branch closure guidance as well as industry initiatives to provide in-person access, including shared banking hubs at post offices, and access via digital means.

Jeff Smith Portrait Jeff Smith
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More than 5,000 bank branches have closed since 2015. Sadly, the Lloyds bank in Withington village will join the many more branches closing in the coming months and leave Withington without a bank branch, but by the end of the year the industry will have delivered only 30 shared banking hubs. Does the Minister think that the pace and scale of that roll-out is good enough?

Bim Afolami Portrait Bim Afolami
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First, it is worth stating that, as the hon. Gentleman knows, the decisions on whether to open or close branches are commercial ones, and the Government do not interfere with that. However, we have legislated to protect access for cash. The banks need to abide by the Financial Conduct Authority’s guidance, with the latest guidance published only last week. In relation to shared banking hubs, we should indeed increase the pace at which they are rolled out, and I am talking with the industry about how to do that.

Oral Answers to Questions

Jeff Smith Excerpts
Tuesday 21st March 2023

(1 year, 7 months ago)

Commons Chamber
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Alex Cunningham Portrait Alex Cunningham (Stockton North) (Lab)
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17. What fiscal steps he is taking with Cabinet colleagues to support the economy in reaching net-zero carbon emissions.

Jeff Smith Portrait Jeff Smith (Manchester, Withington) (Lab)
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20. What fiscal steps he is taking with Cabinet colleagues to support the economy in reaching net-zero carbon emissions.

Stephen Morgan Portrait Stephen Morgan (Portsmouth South) (Lab)
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22. What fiscal steps he is taking with Cabinet colleagues to support the economy in reaching net-zero carbon emissions.

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James Cartlidge Portrait James Cartlidge
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I pay tribute to the hon. Gentleman for his consistency—he raised this with me on Thursday in my winding-up speech on the Budget debate. As I said then, we will announce further details soon, but I can confirm that I will be meeting the Carbon Capture and Storage Association tomorrow. I look forward to the meeting. This is an incredibly important step forward, because we must remember that carbon capture does not just give us clean energy, but enables heavy industry to decarbonise.

Jeff Smith Portrait Jeff Smith
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Why does the Chancellor not rewire local economies by taking inspiration from President Biden and backing Labour’s policy for a national wealth fund to support half a million new jobs this decade?

James Cartlidge Portrait James Cartlidge
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I am grateful to the hon. Gentleman for raising the Inflation Reduction Act; I hope we all welcome what the United States is doing, because the climate is a global phenomenon and, if we are to make progress, we need the United States and other countries to do their bit. Let me be clear: we should be proud of our record to date and confident in our future, because we have huge competitive advantages on green industry. We have a brilliant record to date, we have the shallow North sea, where we have developed the biggest coastal array of offshore wind in the whole of Europe, we have a brilliant scientific base and, with the City of London and our financial institutions, we should be confident about our green future.

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John Glen Portrait John Glen
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Given that I answered this question five weeks ago, I admire my hon. Friend’s consistency. I very much regret that we have not been able to make that decision yet. As I think I said last time, it is a matter for the Secretary of State for Health and Social Care, and conversations have developed. We have made a commitment on the quantum of money, and I will leave it for my colleague to make that announcement imminently.

Jeff Smith Portrait Jeff Smith (Manchester, Withington) (Lab)
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T6. The head of the Institute for Fiscal Studies has said of the Chancellor:“Continuing to muddle through, massage the figures, and implement poorly designed policies will only make the problems worse.”That is a pretty damning verdict on his Budget, is it not?

Jeremy Hunt Portrait Jeremy Hunt
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It would be if his comment had not been quoted out of context, as the hon. Gentleman just did, because he also said that he could see in the Budget a growth plan and he strongly welcomed measures such as the childcare reform.

Oral Answers to Questions

Jeff Smith Excerpts
Tuesday 17th May 2022

(2 years, 5 months ago)

Commons Chamber
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Helen Whately Portrait Helen Whately
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I would be delighted to meet my hon. Friend to discuss the upgrade to that road. As I have said, we know that infrastructure is really important in supporting economic growth and levelling up all around the UK.

Jeff Smith Portrait Jeff Smith (Manchester, Withington) (Lab)
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10. What recent steps he has taken to help reduce economic inequality.

Gill Furniss Portrait Gill Furniss (Sheffield, Brightside and Hillsborough) (Lab)
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16. What fiscal steps he is taking to reduce poverty in the most deprived areas.

Rishi Sunak Portrait The Chancellor of the Exchequer (Rishi Sunak)
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I am very proud of the record of this Government and previous Conservative-led Governments over the past decade of significantly reducing the number of people living in poverty and reducing income inequality. In February we published the levelling up White Paper, which seeks to address the very striking regional disparities our country.

Jeff Smith Portrait Jeff Smith
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The New Economics Foundation says that recent measures such as the fuel duty cut and the national insurance threshold increase will benefit the richest 5% of families twice as much as the poorest half of households. At the same time, does the Chancellor not accept that his decision to raise taxes on working people while shielding those with incomes from other sources such as a large portfolio of properties is only going to increase income inequality further?

Tackling Short-term and Long-term Cost of Living Increases

Jeff Smith Excerpts
Tuesday 17th May 2022

(2 years, 5 months ago)

Commons Chamber
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Jeff Smith Portrait Jeff Smith (Manchester, Withington) (Lab)
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It is a pleasure to follow the hon. Member for Brighton, Pavilion (Caroline Lucas). I agreed with much of what she said.

This is a Queen’s Speech from a Government who have the wrong priorities and are running out of ideas. Our constituents are struggling to get by, let alone live well, and the Government’s response has been a parade of out of touch and, frankly, insulting ministerial media appearances. There is a huge gap where there should be a strategy to tackle the cost of living. As many have said—not just in this Chamber, but in business as well —we need an emergency Budget, because we need immediate help for struggling families in Manchester, Withington and across the country. We need the windfall tax on gas an oil profits, and I am looking forward to voting for it tonight. We have heard warm words from a number of Conservative Members—they could join us tonight and make a difference by voting to give real help to people who need it at a time of crisis.

Some important measures were not in the Queen’s Speech. It is disappointing that the fan-led review of football governance has resulted in only draft proposals rather than a Bill. We have been calling for a long time for the acceptance of the recommendations, and especially for the creation of an independent regulator. The Government have, in fairness, said that they will do that, but they have kicked it into the long grass. It is urgent for the future of our national game. Bury has already collapsed, Derby and Oldham have struggled, and we have seen in the media that more clubs across the country could be on the brink. Under the Government’s new timetable, a regulator would not be in place until at least 2024—although I think it could take longer than that—which for many clubs could be too late. We have already had extensive research, consultation and engagement with fans and stakeholders. We need to get on with it. Football clubs are at the heart of our communities, and we need a suitable governance system.

A quarter of mental health beds have been cut. Right now, 1.6 million people are waiting for mental health treatment. We know that the pandemic has made the situation worse: depression has doubled and crisis referrals are up by 15%, including among under-18s. It is welcome that the Queen’s Speech committed to overhauling the Mental Health Act 1983 and to introducing a long-awaited mental health Bill, although again only in draft. That is overdue and I welcome the fact that the Government have accepted the recommendations of Sir Simon Wessely’s independent review. Alongside reform of the Mental Health Act, however, we must see real action on early intervention, to reduce the number of people becoming unwell in the first place and ensure that those who are struggling can access help early. We also need a proper workforce plan, as Labour has promised.

After three years and many promises, where is the employment Bill? It is really disappointing. It could have addressed statutory sick pay, flexible working and the rights of people in precarious employment. A number of young people earning the minimum wage in the night-time economy would benefit from a specific measure that the Government have not introduced even though they promised to do so—namely, letting them keep their own tips. Lots of bars and restaurants are great employers, but some keep the discretionary service charge. The Government promised to sort this out, but they have not done so. That should have been part of an employment Bill.

The climate crisis is urgent, but, as we have just heard, the Queen’s Speech sets out very little to address it. The draft energy security Bill will not address the short-term struggles with household bills or help improve energy efficiency, the most cost-effective way to reduce energy bills permanently. While sitting here waiting to speak, I received an email from my energy supplier telling me that my monthly direct debit payment is doubling. On my MP’s salary I can manage that—most people in this Chamber will be able to manage that—but so many of our constituents will not. They need our help, and they need it now.

Oral Answers to Questions

Jeff Smith Excerpts
Tuesday 7th September 2021

(3 years, 1 month ago)

Commons Chamber
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Virginia Crosbie Portrait Virginia Crosbie (Ynys Môn) (Con)
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8. What fiscal steps his Department is taking to encourage investment in green (a) industries, (b) growth and (c) jobs.

Jeff Smith Portrait Jeff Smith (Manchester, Withington) (Lab)
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9. What fiscal steps he is taking to help achieve the Government’s net zero emissions target.

Julie Marson Portrait Julie Marson (Hertford and Stortford) (Con)
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13. What fiscal steps his Department is taking to encourage investment in green (a) industries, (b) growth and (c) jobs.

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Kemi Badenoch Portrait Kemi Badenoch
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I thank my hon. Friend for her letters and her continued campaigning for her constituency. We are working closely with the Welsh Government and remain committed to establishing at least one freeport in Wales as soon as possible. I encourage them to work closely with constituency MPs on that. As in England, specific locations will be chosen in a fair, open and transparent allocation process.

Jeff Smith Portrait Jeff Smith
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The Minister must recognise that climate inaction is not just a disaster for the planet but has a huge financial cost and economic consequences. We cannot dodge the critical decisions that we need to decarbonise the economy any more. How exactly will the Government hardwire our net zero targets into every decision in the upcoming spending review?

Kemi Badenoch Portrait Kemi Badenoch
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The Government have used the Green Book to mandate that policies must be developed and assessed against how well they deliver on our long-term policy aims, including net zero. We did that at spending review 2020, where guidance required Departments to include the greenhouse emissions of bids and their impact on meeting carbon budgets and net zero, and allocations to Departments were informed by that information. That is how we will continue to carry out consideration of climate impacts in fiscal policy.

Covid-19 Support Schemes: Ineligible People

Jeff Smith Excerpts
Wednesday 9th December 2020

(3 years, 11 months ago)

Westminster Hall
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Westminster Hall is an alternative Chamber for MPs to hold debates, named after the adjoining Westminster Hall.

Each debate is chaired by an MP from the Panel of Chairs, rather than the Speaker or Deputy Speaker. A Government Minister will give the final speech, and no votes may be called on the debate topic.

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Jeff Smith Portrait Jeff Smith (Manchester, Withington) (Lab)
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We are here yet again to make a plea for our constituents in Greater Manchester, 130,000 of whom have fallen through the gaps—people like three of my constituents. There is Luana, who runs a small interior design company; Shan, who is a sound engineer—we make the best sound engineers in the world, and Shan tells me he is really worried that there will not be a live music industry to come back to; and Zena, who runs festivals. They were all recommended to pay themselves through dividends because they have irregular income. They are not people who invested in companies to make a profit. This is their income and their wages, and they are really struggling. Can the Minister look at the proposal from the Federation of Small Businesses for something like a director support scheme? The evidence can be based on trading profits. If we do not support such directors, their businesses will fail, and the people who work for them and with them will fail as well.

There are solutions out there for the various types of people who have fallen through the gaps, including the newly self-employed, the 50% limit people, the self-employed with a profit cap limit and pay-as-you-earn freelancers. There are potential solutions if the Government will just look at them. We are tired of making these arguments, and I am sure the Minister must be tired of hearing them. I know he is a decent guy. Will he commit today to looking at those proposals, including those from Prospect and the Broadcasting, Entertainment, Cinematograph and Theatre Union? I am sure he will have received their paper, which proposes a number of solutions for those people.

The constituents who are coming to us are hard-working, decent people. Some of them are looking at selling their houses and moving back in with their parents, or selling their possessions. They are really struggling, and the Government appear not to want to listen, so I ask Minister today to please listen.

Additional Covid-19 Restrictions: Fair Economic Support

Jeff Smith Excerpts
Wednesday 21st October 2020

(4 years ago)

Commons Chamber
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Jeff Smith Portrait Jeff Smith (Manchester, Withington) (Lab)
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The Government are fooling nobody. They always try to blame someone else when they walk away from a negotiation, not taking any responsibility for their failure.

Greater Manchester’s leaders produced a carefully costed plan to deliver what our region needs to support our businesses and our people, and that was £90 million. When the Government refused, our ask was reduced to £75 million and then further to £65 million, before the Government walked away from the negotiation. It is shameful for Tory MPs from Greater Manchester to blame our Mayor and our local leaders for trying to protect our economy and our residents. Our local councils cannot do this on their own. They are already on their knees because of the extra costs and the drop in revenues as a result of this crisis.

We need help, but the rationale for the Government’s offer of help has been hard to fathom. There is no consultation, and no transparency on how it has been arrived at. As far as we can see, it appears to involve a per capita figure for business support. How can that make sense when business density and business needs are different for different areas? So I ask the Minister: why can we not have a more sophisticated formula? That is perfectly possible, and it could take into account previous needs. Just as an example, when the small business grant scheme was opened, there were 22,000 applications in the Liverpool city region, 31,000 applications in Lancashire and 47,000 applications in Greater Manchester. The needs are different in different regions.

A formula could also take into account the size of our economy and the extent to which it supports the wider region, as Greater Manchester does. We could take into account the number of low-paid workers in a region, to come up with a formula and a figure that truly takes need into account. If support is per capita based on population, what happens when a rural area with residential areas but little business or industry goes into tier 3? What would happen if an area such as Bournemouth and Poole, with a high retired population, went into tier 3 ? Would it get the same business support? That would make no sense, and it would be the opposite of levelling up.

Sam Tarry Portrait Sam Tarry (Ilford South) (Lab)
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Will my hon. Friend give way?

Jeff Smith Portrait Jeff Smith
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I will take a brief intervention, but I will try not to take the extra time, Madam Deputy Speaker.

Sam Tarry Portrait Sam Tarry
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Does my hon. Friend agree that this is not about a north-south or a Manchester-London divide? Last night, Londoners were told they must accept fare rises way above inflation, a forced council tax hike and, on top of that, even more punitive measures including taking control of the Greater London Authority out of the hands of the Mayor of London. Surely this is about crushing devolution. Does my hon. Friend also agree that the Mayor of London should not be punished for standing shoulder to shoulder with our friends in the north?

Jeff Smith Portrait Jeff Smith
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My hon. Friend is absolutely right. This is about individuals standing up for their area. The Mayor of London is doing so, and the Mayor of Greater Manchester is doing so as well.

We keep being told that the Government say the £60 million is still on the table for Greater Manchester, but now it seems to be on the table only for individual councils unless our Mayor will simply accept the Government’s take-it-or-leave-it offer. It is clear from the Secretary of State’s answers in the Chamber last night that the Government now want to deal only with individual councils. Is it not true that the Government’s policy towards Greater Manchester is no longer “We’re all in this together” but divide and rule? That is not the way a responsible Government should be behaving in a time of crisis.

Finance Bill (First sitting)

Jeff Smith Excerpts
Committee stage & Committee Debate: 1st sitting: House of Commons
Thursday 4th June 2020

(4 years, 5 months ago)

Public Bill Committees
Read Full debate Finance Act 2020 View all Finance Act 2020 Debates Read Hansard Text Read Debate Ministerial Extracts Amendment Paper: Public Bill Committee Amendments as at 4 June 2020 - (4 Jun 2020)
None Portrait The Chair
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We now have four minutes to go. Does the Committee wish to move on to clause 13?

Jeff Smith Portrait Jeff Smith (Manchester, Withington) (Lab)
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Let’s take a break.

Ordered, That further consideration be now adjourned. —(David Rutley.)

Economic Update

Jeff Smith Excerpts
Tuesday 17th March 2020

(4 years, 7 months ago)

Commons Chamber
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Rishi Sunak Portrait Rishi Sunak
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We have announced our own range of fiscal measures to help businesses to protect jobs, with particular reference to the airline industry. As I have said, my right hon. Friend the Transport Secretary and I are actively engaging with the companies and the airports in that sector to establish what support is required.

Jeff Smith Portrait Jeff Smith (Manchester, Withington) (Lab)
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A lot of my constituents work in the events and leisure industry; many are self-employed freelancers. I spoke to one today, who told me that she earns a large proportion of her annual income during the summer event and festival season. She is going to lose that this year. Given that it could be another year before she is able to get back on her feet, can I urge the Chancellor to come back with a package of support for people like her—ideally grant support, a long-term package for individuals in that sector?

Rishi Sunak Portrait Rishi Sunak
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Those in the leisure and hospitality and the retail sectors are of course particularly impacted by what we are experiencing, which is why the package of measures announced today builds on what was announced last week and goes to the heart of that industry to provide direct cash support and business rate relief. The measures we announced last week also provide support to those who are self-employed.