Oral Answers to Questions
Lloyd Hatton Excerpts(2 weeks, 1 day ago)
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Rachel Reeves
Alongside the Budget last year, we published the new North sea oil and gas strategy, which, for example, allows tie-backs, so that more use can be made of existing fields. The previous Government brought in the energy profits levy when energy companies’ profits went through the roof after Russia’s invasion of Ukraine. That is still in place, so that when prices are high, we can bring money in to help people with their bills.
Lloyd Hatton (South Dorset) (Lab)
I welcome the Chancellor of the Exchequer’s work to get the Leonardo helicopters contract over the line, as that will help protect defence jobs right across Dorset, Somerset and the wider south-west. Will the Treasury and Ministers continue to work with the Ministry of Defence to secure investment in the defence sector in Dorset and across the west country?
Rachel Reeves
I thank my hon. Friend for what he said about the Leonardo contract at Yeovil, which supports many thousands of jobs in Somerset, and indeed Dorset. I am proud to be the Chancellor who has overseen the biggest uplift in defence spending since the end of the cold war; that has enabled us to support this investment and many others.
Oral Answers to Questions
Lloyd Hatton Excerpts(4 months, 3 weeks ago)
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James Murray
Mr Speaker, I am considering how to respond to that question. I will simply leave it at saying that everyone must pay their fair share of tax. That is something that the Labour party are committed to in government.
Lloyd Hatton (South Dorset) (Lab)
On a more constructive note, for the past year I have been campaigning hard for Eden Portland to open in my constituency. If opened, it would be a world-class attraction, rejuvenating Portland, attracting investment, creating well-paid jobs and promoting our coast. The project is a success story waiting to happen, so will the Chancellor of the Exchequer continue to work with me, Dorset council and the team at Eden Portland to deliver that exciting project as soon as possible?
Rachel Reeves
I thank my hon. Friend again for raising the opportunities in Portland. As he knows, we are working closely with Dorset council, the project and him to bring that to fruition.
Oral Answers to Questions
Lloyd Hatton Excerpts(8 months, 3 weeks ago)
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Lloyd Hatton (South Dorset) (Lab)
In the recent spending review, the Chancellor outlined plans for a multimillion-pound investment in essential building works at Budmouth academy in Weymouth. We welcome that new investment in local schools in our town, and it will enable Budmouth academy finally to upgrade its school buildings. Looking ahead, will the Chancellor work with me to speedily deliver the new investment and ensure that Budmouth academy gets a richly deserved upgrade as soon as possible?
Mr Speaker
Unfortunately, I cannot see the relevance of the question. I call Bobby Dean.
Oral Answers to Questions
Lloyd Hatton Excerpts(1 year, 3 months ago)
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Emma Reynolds
As the hon. Gentleman knows, the Money and Pensions Service commissions other charities, particularly to work with hard-to-reach vulnerable people. We continue to review its funding and we keep a close eye on the evolving demand and need for its services.
Lloyd Hatton (South Dorset) (Lab)
The Exchequer Secretary to the Treasury (James Murray)
Ensuring that online multinationals pay their fair share of tax is crucial, so the Government are finalising the implementation of internationally agreed rules for a minimum 15% effective rate globally. As set out in the corporate tax road map, we are seeking an international solution for a fair tax allocation of multinational profits. Meanwhile, the digital services tax ensures that search engines, social media platforms and online marketplaces pay UK tax reflecting a UK-derived value.
Lloyd Hatton
Amazon currently makes hundreds of millions of pounds in profits in the UK each year, and often gets away with paying little to no corporation tax. Meanwhile, high street businesses in Weymouth, Portland and Swanage in my constituency pay their fair share. To level the playing field, will the Chancellor consider further measures to ensure that online giants always pay their fair share of tax? I fear that, without action, our high streets will always be at an unfair disadvantage.
James Murray
My hon. Friend is absolutely right, and supporting the high street is at the heart of our ambitions when it comes to business rates reform. On Second Reading of the Finance Bill last week, in which I spoke, we set out our plans to issue permanently lower tax rates for high street retail, hospitality and leisure properties. That will be paid for through an increase in the tax rate on properties with a rateable value above £500,000, a category that includes the warehouses used by many of the online giants to whom my hon. Friend has referred.