EU Membership: Economic Benefits

Debate between John McDonnell and Barry Sheerman

Wednesday 15th June 2016 Commons Chamber

[John McDonnell]

My fear is that if we vote for Brexit we will cut ourselves off from the opportunity of that financial support as well, and that many other companies will move out. It is only courteous to also congratulate the right hon. Gentleman on his 65th birthday today.

[Mr Barry Sheerman (Huddersfield) (Lab/Co-op)]

My hon. Friend is absolutely right about the bubble in Westminster. Does he not think that over these next few days every Member of this House has got to tell people in our constituencies what leaving the EU would mean for them? In Huddersfield it would mean catastrophic loss of income into our university and catastrophic impact on manufacturing industry.

[John McDonnell]

I fully agree. It is clear that a large percentage of people have not made up their minds yet, and that there are others who can be influenced, and it is essential that they make this decision on concrete facts rather than exaggerated claims like those we have seen so far.

Let us be absolutely clear: this is about jobs. There are 3.5 million jobs directly dependent on Britain’s membership of the EU. These will be put at risk as a result of a Tory Brexit. The traditionally Eurosceptic Treasury estimates that unemployment would rise following Britain’s leaving the EU by between 520,000 and anything up to 820,000. EU member countries accounted for nearly half of the UK’s stock of inward investment at £496 billion. This is far more than the US or any other single country.

Death Penalty (India)

Debate between John McDonnell and Barry Sheerman

Thursday 28th February 2013 Commons Chamber

[John McDonnell]

Exactly, and this follows in the tradition of Governments of all political complexions in recent years, and of the representations that have been made to the Indian Government. I am grateful to the Government for their recent activities on this matter, which I will discuss later.

This is an historic debate, but it would not be taking place today had it not been for the dedication, hard work and commitment of the Kesri Lehar campaigners, and I wish to pay tribute to them. Last year, when we received the first inkling that India was considering ending its eight-year moratorium on implementing the death penalty, members of the Punjabi community in our country, especially the Punjabi Sikhs, came together and launched the Kesri Lehar campaign. Since then, they have secured more than 100,000 signatures to their petition to abolish the death penalty and address other human rights concerns.

[Mr Barry Sheerman (Huddersfield) (Lab/Co-op)]

A large proportion of the Sikh community in Huddersfield passionately agrees with the motion, and I congratulate my hon. Friend on securing the debate. For eight years we all hoped and thought there would be no more capital punishment in India. We should note that the record on capital punishment—on the number of people killed—is far worse in China and the United States, but this is a very important debate, and I am pleased to give my full support to it.

[John McDonnell]

I am grateful to my hon. Friend, and I hope that across the House we are all friends on this matter.

The Kesri Lehar campaign organised a mass lobby of Parliament last autumn, and it has worked with human rights organisations, including Amnesty International, Human Rights Watch and Liberty, to press the Indian Government for the abolition of the death penalty. On behalf, I hope, of the whole House, I want to thank all the Kesri Lehar campaigners, many of whom have joined us in the Gallery today.

Finance (No. 3) Bill

Debate between John McDonnell and Barry Sheerman

Monday 4th July 2011 Commons Chamber

[Mr Barry Sheerman (Huddersfield) (Lab/Co-op)]

Will my hon. Friend’s amendments help with the sort of situation we faced with HBOS? It was driven into the buffers by its highly paid executive team, who seemed to lose nothing while the shareholders lost everything.

[John McDonnell]

My amendments would go some way to ensuring that the information is published, enabling the Government to look in more detail at such information, while also enabling shareholders to have at least some opportunity to hold the directors to account. As I said, the advisory vote system worked initially, but it certainly has not worked in recent years, as the HBOS example demonstrates. Having a binding vote will give the shareholders some authority. The amendments are an attempt to redress the current imbalance of power between the shareholder and the board. It will not solve all the problems of directors being unaccountable on pay or bonus awards, but it would put another weapon in shareholders’ hands to tackle the issue.

Amendment 17 relates to enterprise investment schemes and accountability. Just as shareholders need information to hold company boards to account, the House should ensure that taxpayer’s money and tax concessions are allocated wisely to groups in society and that value for money is achieved. The amendment would invite the Government to justify in more detail future enterprise investment schemes on the basis of past performance of previously approved schemes. The amendment would seek information from the Minister on the total cost of tax relief with regard to the tax income forgone, the number of jobs created by the companies that have gained tax relief under the schemes, and the number of companies that have failed after the tax relief has been given—calculating the cost of each job created compared with the cost of the tax relief given. The information provided in the paperwork in relation to the Budget and the Finance Bill is not clear. The Treasury briefing on enterprise investment schemes and venture capital trusts sets out the proposals but provides no analysis of past measures and their performance. The Treasury Committee, in its comments on tax relief for EIS under the Finance Bill , suggested:

“The measure also needs to be viewed alongside the other proposals for EIS and whether the existing EIS conditions encourage investment in growth businesses.”

The Treasury Committee, therefore, points us in the direction of undertaking a proper value for money exercise on the proposals.

The amendment would enable the Minister to respond to that. Before we venture into such schemes, particularly EIS, we must ensure that their objectives are achieved with value for money, and the information is not currently available for us to make that judgment.

Public Forest Estate (England)

Debate between John McDonnell and Barry Sheerman

Wednesday 2nd February 2011 Commons Chamber

[John McDonnell]

No, I will not.

TUPE does not even protect pensions. There is nothing to prevent a new employer from laying off staff while also undermining their conditions and pensions. I urge the Government to address the issue of their future. When I looked at the impact assessment to see whether there was any reference to it, I found that the only reference in the first seven pages related to redundancy costs. It reads as follows:

“Transition costs of redundancy, TUPE and possible further professional fees have not been quantified.”

That is repeated six times. It appears on each of the first seven pages of the document.

There are real anxieties among this group of expert staff about their future. There are anxieties about a transfer to the voluntary sector. Most Members have been involved with charities—most of us have served on their boards—and we know how difficult it is to maintain a charity. In any charitable or voluntary organisation, about 30% of the time is spent on trying to find funds for future years.

[Mr Sheerman]

I chair a charitable trust, the John Clare trust. We hoped to buy some woodland, but were told that the cost of managing woodland is 10 times the purchase price. Managing woodland is very expensive, and charities will not be able to do it.