The Growth Plan

Debate between Kwasi Kwarteng and Anthony Browne

Friday 23rd September 2022 Commons Chamber

[Kwasi Kwarteng]

We are absolutely looking at the childcare issue, and I am sure one of my Cabinet colleagues will update the House on that; we are talking about the heating oil intervention; and we are very willing and eager to engage with Northern Ireland colleagues and friends on working out how we can roll out investment zones in Northern Ireland.

[Anthony Browne (South Cambridgeshire) (Con)]

I strongly welcome this radical and generous package of measures to promote growth and provide support for households. I also welcome the position of the Conservative party as a low-tax party, and join my colleagues in welcoming the cuts in income tax, corporation tax and various other taxes. I particularly welcome the cut in the most economically damaging of all taxes, stamp duty, which is seen as reducing labour mobility and clogging up the housing market. However, groups including the Institute for Fiscal Studies have called for its full abolition to promote economic growth. Will my right hon. Friend go even further, and consider more cuts in stamp duty to reduce the economic damage and the damage to households that it causes?

[Kwasi Kwarteng]

I am grateful to my hon. Friend, whose policy prescriptions are always interesting and valuable. I have only been in post for two and a half weeks, but I should be happy to discuss with him how we can simplify our tax system.

Corporate Transparency and Economic Crime

Debate between Kwasi Kwarteng and Anthony Browne

Monday 28th February 2022 Commons Chamber

[Kwasi Kwarteng]

I have been very clear that it is the responsibility of every Member of this House to engage with these issues. I have not been informed about that interdiction by my Department and I would love to hear more about it. However, as I have said, every Member of this House has an obligation to engage directly with those tackling these kinds of abuses.

[Anthony Browne (South Cambridgeshire) (Con)]

This House is united in agreeing that we need to get rid of dirty money from the so-called London laundromat, and I very much welcome these proposals on reforming Companies House, which is a big step in that direction. As a recent Treasury Committee report showed, the economic crime landscape is littered with agencies that are too weak to clamp down on money laundering and fraud. Will the Secretary of State confirm that Companies House will have not just the right resources—other Members have mentioned that—but sufficient powers to really clamp down on the oligarchs, who will no doubt be determined to try to block this?

[Kwasi Kwarteng]

My hon. Friend will appreciate that the legislation proposed will set up a range of criminal offences. As is always the case with criminal offences, we will absolutely make sure that the people who are enforcing those penalties are properly resourced. I am very keen to work with him to make sure that we get this right.