The Growth Plan

Debate between Kwasi Kwarteng and Robert Neill

Friday 23rd September 2022 Commons Chamber

[Kwasi Kwarteng]

We are backing the hon. Gentleman’s communities—by reducing taxes, by creating the potential for investment zones and through the energy intervention. There is a whole host of measures that are backing ordinary, hard-working people.

[Sir Robert Neill (Bromley and Chislehurst) (Con)]

I welcome much of the announcement, particularly the change to IR35. As the Chancellor will know, that has caused real distress and injustice to many honest, hard-working self-employed people. I also welcome the changes to stamp duty, but will he bear in mind—I am sure he does, as a Conservative—that we also believe in sound money and we must keep an eye on inflation? We do not want the benefit of the stamp duty cut to be eroded for many homeowners by increased mortgage costs.

[Kwasi Kwarteng]

Absolutely. My hon. Friend will understand that, historically, we have managed to get out of high periods of debt by growing our economy. That is why we have a renewed focus on growth. What we cannot do is simply tax our way to prosperity; that has never happened before.

Corporate Transparency and Economic Crime

Debate between Kwasi Kwarteng and Robert Neill

Monday 28th February 2022 Commons Chamber

[Kwasi Kwarteng]

What the right hon. Member says about Companies House reform is not accurate at all. This set of measures will be the biggest reform to Companies House in 200 years. It is something significant. It has not been done in 200 years and it is something which we are very proud to have expedited—[Laughter.] I would have thought there would be a bit more recognition of the fact that this is vitally important legislation that is going to be brought in in a timely way.

[Sir Robert Neill (Bromley and Chislehurst) (Con)]

The Secretary of State is right to draw a distinction between that which needs to be done immediately to deal with the appalling behaviour of Putin and his cronies and the long-term reforms that are really important to the business structures of the United Kingdom, for our competitiveness and for company law as a whole, which should rightly not be rushed. In relation to the more urgent and pressing matters, will he undertake to work closely not just with the City but with the large amount of expertise we have in financial and legal services? For example, the Financial Markets Law Committee and others have a great deal of expertise, particularly around such issues as crypto-currency, and we need to harness that. The City and the financial sector want good regulation, because it is in Britain’s interests to have a clean and effective set-up and we should not be misled by those who suggest otherwise.

[Kwasi Kwarteng]

My hon. Friend is right. This idea that the City of London does not want regulation is a travesty and a disgrace. It is a slur on the reputation of our financial services. He is also right to say that there is a distinction to be drawn between what needs to be done immediately and can be done expeditiously, and other matters that need a great deal of thought and consultation, on which I am happy to engage with him and other colleagues.

Civil Liability Bill [Lords]

Debate between Kwasi Kwarteng and Robert Neill

3rd reading: House of Commons & Report stage: House of Commons
Tuesday 23rd October 2018 Commons Chamber

[Robert Neill]

My hon. Friend is making some fair points. He says that this is not necessarily a role for judges, but would he conclude that while it may well be, as Lord Brown said in the other place, appropriate for Government to legislate for tariff-isation as a matter of policy, the views of the judges must be fully taken into account by way of consultation in setting what the level or quantum of that tariff should be and how it should operate and what practical impacts it should have?

[Kwasi Kwarteng]

My understanding given the nature of the Bill is that there is ample scope for a dialogue or conversation between judges—the judiciary—and the Government. However, what I am reluctant to see, and what I think many of our constituents and voters would be reluctant to see, is the power exclusively residing in the hands of judges. The Government have a duty of care to the taxpayers and to people who have insurance to try to keep these costs low. It is very funny to see Opposition Members frowning when I suggest the Government have a role to play. They are on the side of the political argument that believes in wholescale nationalisation; they want the Government to control everything. Yet in this particular instance they are expressing surprise and bewilderment, and I suggest that is completely spurious and fake.

[Robert Neill]

Does my hon. Friend agree that the logic of his position, which I understand, is that if we are to have credibility in taking this policy decision, those savings must actually be passed on to motorists? Does he recognise that there has been some cynicism about that in the past? We need to have mechanisms to measure very carefully that the insurance industry comes up to the mark, because it has not always had a terribly good track record in the past on that?

[Kwasi Kwarteng]

I agree with my hon. Friend. He is right that the insurance companies have in the past—I stress in the past—had a questionable record on some of these issues, but I repeat what I said on Second Reading: it is entirely unhelpful to bash the insurance industry or denounce it as a bunch of shysters who are ripping the public off. As I said in that debate, the insurance industry is one of our world-leading industries. We should celebrate it and be grateful for it: our insurance industry is a world-beating industry. There are not that many industries left in Britain that we can call truly world class, but the insurance industry happens to be one that is. It was nauseating and disconcerting on Second Reading—it has not happened so much today—to hear speaker after speaker on the Opposition Benches denouncing the insurance industry. They were scandalised that, God forbid, the industry should make profits, as though making a profit were in itself a moral crime. We have to try to shift the nature of the debate. The insurance industry is a world-beating industry. As my hon. Friend the Member for Bromley and Chislehurst (Robert Neill) has suggested, we need to have some oversight to ensure that savings are passed through to the customers, our constituents.

Budget Resolutions and Economic Situation

Debate between Kwasi Kwarteng and Robert Neill

Monday 13th July 2015 Commons Chamber

[Robert Neill (Bromley and Chislehurst) (Con)]

I normally regard my right hon. Friend the Secretary of State as one of the most generous-hearted men in politics. When I listened to the opening of his speech, I thought he was being a bit harsh on the Opposition, but having heard their reaction, I think he was, if anything, over-generous. When one of the more thoughtful Members of the shadow Cabinet is reduced to tripping out every stereotypical canard in the socialist book and attempts to take refuge in the same view that was adopted by the last Bourbon King of France, Charles X, who was wholly and genuinely convinced that the French revolution was a terrible aberration, and that people would wake up one day and realise that they had got it wrong and that the divine right of kings was the only answer, I realised the difficulty that any Blairite on the Labour Front Bench faces. If it is any help for the historians here, Charles X lasted three and a half years before he was got rid of. I shall be interested to see how long the next leader of the Labour party lasts.

I also felt genuinely sorry for the current leader of the Labour party. After trying to inject a modicum of realism in relation to benefits and welfare reform, she was entirely disavowed by her own party. It is rather sad when the official Opposition of this country take as their role model the ostrich. They expose their thinking parts to us and bury the realities in the sand, and the country deserves better.

[Kwasi Kwarteng (Spelthorne) (Con)]

Has my hon. Friend heard anything today about the Opposition’s current view on the welfare cap? Has he learned anything interesting about what their actual position is?

[Robert Neill]

Not at all. As there are probably something in the order of 230-plus different views, we could not cover them all in time. It is also rather remarkable that the Opposition have adopted an entirely different stance to elected mayors from that which I remember when I was the leader of the Conservative group on the London Assembly and facing the first ever elected mayor in this country—the first Mayor of London. I am glad to say that things have improved since then. As some may remember, the office of Mayor of London came into being as a result of legislation introduced by the Labour party. It comes back to the same trope. Why does the Labour party now regard any elected mayor as anathema? Because it was an idea of Tony Blair’s, and must therefore be cast into utter darkness.

I find it truly bizarre that a normally thoughtful party that wants to talk about devolution objects to the opportunity to take up city deal models with an elected mayor. The idea has not been forced upon Labour; it is Labour’s choice whether to have it or not. It was Labour that imposed more central control over local government, not just in planning, not just in terms of whether there could be a committee structure or not, not just in terms of whether a very strict and rigid standards regime was imposed, not just in terms of the comprehensive area assessment, not just in terms of planning policy, and not just in terms of financial policy and the cap. After all that, Labour had the gall to complain about an offer—take it or leave it—put forward by my right hon. Friend.