Oral Answers to Questions
Debate between Jeremy Hunt and Anthony Mangnall(9 months, 3 weeks ago)
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Jeremy Hunt
If that was being nice, I am relieved that I have not seen the other type of questions that the hon. Member asks. I agree that manufacturing is central to our economic fortunes, which is why it was good news that last year we overtook France to become the eighth-largest manufacturer in the world. But we have gone even further: in the autumn statement, we announced a £4.5 billion manufacturing strategy to give further support to make our manufacturers the best in the world.
Anthony Mangnall (Totnes) (Con)
Yesterday, we had the pleasure of discussing the very many benefits from the autumn statement, including research and development grants and simplification of the tax code. However, I wonder whether the Chancellor might go a little further and see whether cutting VAT for the tourism and hospitality sector, perhaps by 10% over five years, would be advisable to help the economy across the United Kingdom.
Jeremy Hunt
My hon. Friend is an assiduous supporter of the many pubs, restaurants and shops in Devon, and I commend him for that support. We will, of course, keep all those measures under review ahead of the Budget.
Economic Update
Debate between Jeremy Hunt and Anthony Mangnall(2 years, 1 month ago)
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Jeremy Hunt
I did not say that Labour opposed the furlough scheme. What I said was that Labour Members like it when we spend money, but they oppose all the measures necessary for the economy to be able to afford them.
When it comes to corporation tax, I would love to reduce it. In the long run, I think we do get more money. [Interruption.] Well, I am answering the hon. Gentleman’s question. We do get more money back, but that has to be on money that we actually have—it cannot be on borrowed money, which is why we have changed direction.
Anthony Mangnall (Totnes) (Con)
I am utterly delighted to see my right hon. Friend in his place. It was an honour to be on his campaign team at the very beginning.
May I add one small point? Last week, I met representatives from the hospitality and tourism sector, which sees the possibility of 10,000 businesses going out of business. Will he meet me and representatives from the sector to talk about what we can do to keep it open, because it is absolutely the powerhouse of the British economy?
Jeremy Hunt
After my hon. Friend’s generous comments, the answer is absolutely, yes.