Class 4 National Insurance Contributions

Debate between Lord Hammond of Runnymede and Alan Brown

Wednesday 15th March 2017 Commons Chamber

[Mr Hammond]

My hon. Friend is exactly right. As I have already said several times today, we will not adopt the convenient ruse the right hon. Member for Hayes and Harlington has of pretending that we can borrow for everything without any cost. If something needs doing, such as funding our social care system, we have to be prepared to pay for it. Simply pretending that we can borrow for it and pass the debts to our children is not a credible fiscal position.

[Alan Brown (Kilmarnock and Loudoun) (SNP)]

This farce has come about partly because of the lack of transparency in the estimates and Budget process. The Government should look at it again. Given that the Chancellor admits his spring Budget is no longer fiscally neutral, I have a few suggestions for what he can look at again: the higher rate threshold, nearly £3 billion; lifetime ISA up to £20,000, £3 billion; corporation tax giveaway, £23.5 billion; and inheritance tax giveaway, nearly £3 billion. That is £32 billion worth of giveaways over the next few years in this Budget. Why does he not look at those measures again when he talks about balancing the books?

[Mr Hammond]

We know that the Scottish National party believes in higher taxes, because everyone earning more than £45,000 will be paying £314 a year more tax in Scotland next year than in England.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Alan Brown

Tuesday 28th February 2017 Commons Chamber

[Alan Brown (Kilmarnock and Loudoun) (SNP)]

The Treasury supported the launch of the National Needs Assessment’s infrastructure report, which clearly states that carbon capture and storage is required as part of energy policy going forward. When will the Treasury do the right thing and reinstate the funding for carbon capture and storage?

[Mr Hammond]

I think the hon. Gentleman was talking about carbon capture and storage. That is a matter for my right hon. Friend, the Secretary of State for Business, Energy and Industrial Strategy, and I will raise with him the point that the hon. Gentleman has made.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Alan Brown

Tuesday 17th January 2017 Commons Chamber

[Mr Philip Hammond]

I recognise my hon. Friend’s concern. This matter was on my agenda when I was Transport Secretary in 2010. The roll-out of ultra-low emission vehicles has been disappointing—it has not been as fast as I would have hoped—and that will be one of the issues we consider as we try to respond to concerns about air quality, which have been reinforced by recent court decisions requiring the Government to review their approach on that.

[Alan Brown (Kilmarnock and Loudoun) (SNP)]

In his previous Budget, the Chancellor stuck in a £7 billion investment line for the year 2021-22, which is beyond the remit of this Parliament, so will he explain what that money is for?

[Mr Hammond]

It is customary to present forecasts for fiscal events over the forecast period which, as we progress through this Parliament, will stretch beyond its end. That is how it has always been done, and it would not be helpful to give the House only a shorter horizon.

Autumn Statement

Debate between Lord Hammond of Runnymede and Alan Brown

Wednesday 23rd November 2016 Commons Chamber

[Mr Hammond]

I am afraid I am just going to repeat that I am not going to get into the weeds of trying to allocate every pound of funding that I announce in these statements to specific projects. This must be an issue for my right hon. Friend the Transport Secretary.

[Alan Brown (Kilmarnock and Loudoun) (SNP)]

The Green Book confirms a £1 billion shale wealth fund, but after more than four decades we are still awaiting an oil fund in Scotland. However, the big ask is on loan guarantees. Given that the Thames tideway project got a £4.2 billion loan guarantee, can the Chancellor confirm the value of loan guarantees for oil and gas as soon as possible?

[Mr Hammond]

I have announced today that the UK loan guarantee scheme will be extended until at least 2016. It has a very significant amount of headroom; I think the cap on it at the moment is £40 billion, and we are nowhere near using up that capacity. The important thing about the UK loan guarantee scheme is that it underpins projects at an early stage. Many projects have gone ahead without loan guarantees, but because they had a commitment on the loan guarantee they were able to proceed and then eventually were able to get funding without it. It is playing a very important role that is understated by the measure of guarantees actually issued.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Alan Brown

Tuesday 12th July 2016 Commons Chamber

[Alan Brown (Kilmarnock and Loudoun) (SNP)]

T6. The Chagos islanders were the first victims of the UK’s nuclear policy, given that their eviction helped the UK get a discount on Polaris. Lords at the Supreme Court now advise that a refusal to permit resettlement may be “irrational, unreasonable or disproportionate”. Will the Secretary of State advise the new Prime Minister of those factors and ask her to make a quick decision on resettlement for the Chagos islanders?

[Mr Philip Hammond]

As the hon. Gentleman and the House will know, we have been studying options relating to the British Indian Ocean Territory and the situation of the Chagos islanders. The current Prime Minister has taken a great interest in the issue, but it is clear that it will now fall to the new Prime Minister to make a decision.