Autumn Statement

Debate between Lord Hammond of Runnymede and Angela Smith

Wednesday 23rd November 2016 Commons Chamber

[Mr Hammond]

I am afraid I may have to disappoint my hon. Friend, because the £23 billion is specifically targeted at productivity-enhancing investment in R and D and infrastructure. That is because we judge that, with our level of debt, to be credible in the markets, we have to borrow only for that kind of additional productivity-enhancing investment, and it will go into network investment, R and D and innovation.

[Angela Smith (Penistone and Stocksbridge) (Lab)]

The statement about Wentworth Woodhouse is very welcome economic news for South Yorkshire, but it failed the graciousness test, because it omitted to pay tribute to the campaign led by the formidable Julie Kenny to save the house. However, South Yorkshire needs much better transport links if it is to succeed economically. On that basis, why has only one of the five strategic road projects—the Oxford to Cambridge expressway—been given the go-ahead today? Is South Yorkshire going to get its trans-Pennine tunnel link or not?

[Mr Hammond]

As I tried to make abundantly clear, I am intending to move away from a micromanagement approach to the budgets of my right hon. Friends, who are perfectly capable of evaluating the arguments, making the decisions and announcing them themselves, and that is what will happen in future. What I will say to the hon. Lady is that I did have the pleasure of meeting Julie, who explained to me the very considerable efforts that have been made so far, and I am delighted that we have been able to support that project.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Angela Smith

Tuesday 12th January 2016 Commons Chamber

[Mr Hammond]

Yes. My hon. Friend is absolutely right that a proper rule of law system is vital for the economic, as well as the social, development of China. The Chinese Communist party is committed to implementing the full rule of law in China by 2020 and we are committed to supporting it in that endeavour. On the question of Mr Lee Bo, I raised the case with the Chinese Foreign Minister last week. The joint declaration and the basic law are clear that law enforcement in Hong Kong is a matter for the Hong Kong authorities, and that offences committed in Hong Kong should be tried in Hong Kong courts. As I said while I was in Beijing, if it turns out, as some have speculated, that Chinese state security entities have spirited Mr Bo out of Hong Kong, that would be an egregious breach of the basic law of the joint declaration, and of the principle of one country, two systems, which we very much support.

[Angela Smith (Penistone and Stocksbridge) (Lab)]

It is of course right for the Government to pursue a stronger relationship with China, but it is also true that they should tackle unfair trading practices when they come across them. Will the Secretary of State update the House on the contribution he is making to tackle the Chinese Government over the unfair dumping of Chinese steel imports on the UK market?

[Mr Hammond]

The hon. Lady is absolutely right. We raised this issue with President Xi when he was here in October. We were given a commitment that China intends to address its overproduction of steel. The problem is not only China, of course; this is a global problem. The Chinese said they were going to close some of their more polluting steel plants. I pressed them on that in Beijing last week and emphasised to them that it is through the prism of steel that their claims to be treated as a market economy are likely to be judged in the European Union. If they want a fair hearing on market economy status, they must address the steel issue. It is in their interests to do so.