Finance Bill

Debate between Kirsty Blackman and Lord Mackinlay of Richborough

Committee: 1st sitting: House of Commons
Wednesday 11th October 2017 Commons Chamber

[Kirsty Blackman]

I appreciate having the opportunity to speak in this second part of our debate on the Finance Bill.

The matter in hand now has been discussed a number of times over the past few months, specifically around business investment relief. Some aspects of it were discussed while tackling the Ways and Means resolutions and on Second Reading. We are still not clear what impact this will have; the Government have still not told us. An overview of tax legislation was produced at the tail end of last year, when the Bill was first in draft form. It said there was likely to be a negligible impact on the public finances, but that does not explain what is actually going to happen. It also says that between 200 and 400 individuals a year benefit from business investment relief, but again that does not really explain the impact of this relief.

We do know, however, that everybody who benefits from the relief is a non-dom. The Government claim that they are changing the way non-doms are considered and are making it less easy for them to get away with dodging taxes, but this serves to increase the ability of non-doms to get away with not paying tax. The Government suggest this is about increasing investment, but they have not been able to produce any evidence of how much investment has been created as a result of business investment relief.

I am concerned about the amount of time and energy that the House is spending on this matter. It is spending a significant amount of time: we put this measure in place, presumably, at some point in the past few years, yet only 200 to 400 individuals have taken it up. Despite the fact that the numbers are so small, however, we are again debating the matter; this is the third time that we have done so this year, when there are many very important other items on the agenda.

[Craig Mackinlay (South Thanet) (Con)]

The amount of investment that has come to the UK from non-doms is £1.6 billion since 2012. I hope that is of some assistance to the hon. Lady.

[Kirsty Blackman]

Is that through business investment relief or from non-doms in general? We asked for those figures before, at the last stage of this discussion, and they were not forthcoming from the Front Bench. It would be nice to have those figures in writing from the ministerial team.

The hon. Member for Walsall North (Eddie Hughes) talked about why we should trust the Tories and what he would tell his constituents about that. He included things such as the living wage and increasing employment, both of which have happened, but the living wage is not a living wage, because people cannot actually live on the current living wage. If he made that proposition to his constituents, what he would actually have to say is that their wages have not gone up in a decade, that household debt is spiralling and that their savings are going down. If the Tories are doing such a good job, why are people poorer as a result?

One of our concerns is that we are facing a hard Brexit that will significantly damage the economy, but measures such as this one, which is projected to bring in only a small amount of investment from non-doms, will not undo the damage created by a hard Brexit; this will not undo the 5% reduction in GDP that Scotland is set to experience as a result of Brexit.

State Pension Age: Women

Debate between Kirsty Blackman and Lord Mackinlay of Richborough

Wednesday 30th November 2016 Commons Chamber

[Craig Mackinlay]

I fully understand the hon. Gentleman’s point, and I will cover some of those issues as I progress.

On the contract that many Members say was there, there was no contract for the Government to implement the triple lock, which has done more to alleviate poverty in older age than any other measure before it. There was no contract about the implementation of the new state pension, which will provide £155.65 per week on 35 qualifying years of national insurance. These were choices made by Conservative Governments and were done for the right reasons. We will have increased the take-home pension by £1,100 a year since 2010. Many people welcome these things, which were done for the right reasons, as I said. WASPI women have the right to work for longer because they are not forced into retirement any more. If they are unable to work, there is a benefit system, which I support and hope would carry them through.

[Kirsty Blackman]

Will the hon. Gentleman give way?

[Craig Mackinlay]

I already have given way twice, and I do not have much time.

I have an option 6 to offer to Members today, which I even offer to Landman Economics for free. It has to be understood that later-age employment is difficult. Employers are not always as enlightened as they could be in recognising the value of older employees. I am grateful to colleagues here who have taken on older employees. I would offer a lighter-touch approach by the Department for Work and Pensions in jobseeker’s allowance and employment and support allowance claims with no need to prove endless CV writing and job clubs and less formal job coaching, and advice on a simpler footing.

Finally, one of the most active South Thanet WASPI campaigners, still very much annoyed with me and the Government, recently came to see me. As a result of the changes, she had taken up an offer by Jobcentre Plus and she wrote to me to pass on to it how good it had been. We do not see much of that in our surgeries. Because of the great service she had received—she also attended a jobs fair that I had put on—she had found a job. I have never seen her so happy, but that would not have happened unless the changes had moved her in that direction.

It is very clear that one solution does not fit all. I would have supported the amendment proposed by my hon. Friend the Member for East Worthing and Shoreham (Tim Loughton), if it had been available to vote for this afternoon. I have to say to SNP Members, however, that I am sorry, but I am unable to support their rather blunt motion. As ever, I am afraid, it is pure political grandstanding, offering very few answers. There is an answer out there, and it will be found, I am sure, by the excellent work of my right hon. Friend the Secretary of State. I encourage WASPI to speak to us with one voice, so that we can reach a solution that is right for the majority.