Barnett Formula

Debate between Lord Newby and Lord Tebbit

Tuesday 10th February 2015 Lords Chamber

[Lord Newby]

My Lords, I am well aware of the noble Lord’s views. The Secretary of State for Wales is considering the devolution settlement at the moment and is aiming to reach a cross-party agreement by 1 March.

[Lord Tebbit (Con)]

My Lords, will my noble friend tell the House whether he thinks that, as a consequence of the policies which are being pursued by the coalition Government in Scotland, there will be a great wave of support for Liberal Democrat candidates in Scotland?

[Lord Newby]

My Lords, I am extremely confident about the electoral prospects of my colleagues in Scotland.

Economy: Public Sector Net Borrowing

Debate between Lord Newby and Lord Tebbit

Monday 14th July 2014 Lords Chamber

[Lord Newby]

My Lords, it is an indictment of the previous Government. In the first year that we were in office, £1 of every £4 spent by Government was borrowed. That was completely and utterly unsustainable, and that is why we are sorting things out.

[Lord Tebbit (Con)]

My Lords, will my noble friend be very careful and encourage others to be careful in their use of the expressions “borrowing”, “deficit” and “debt”? The ghastly facts before us show that debt is rising remorselessly, and it will be, as he has said, some time yet before the enormous pile of debt incurred by the previous Labour Government can be brought under control and reduced?

[Lord Newby]

My Lords, I agree with the noble Lord. The relationship between debt and GDP is set to rise for a number of years more, even as we continue to reduce the deficit.

Taxation: Tax Law Enforcement

Debate between Lord Newby and Lord Tebbit

Wednesday 30th October 2013 Lords Chamber

[Lord Newby]

My Lords, as the noble Lord will know, in last year’s Budget and Finance Bill, the stamp duty payable on high-value properties in those circumstances was significantly increased. That has led to a substantial increase in the overall yield of stamp duty on property transactions.

[Lord Tebbit (Con)]

My Lords, is my noble friend aware that a very good precedent has been set on the avoidance of tax by the immediate past Prime Minister, Mr Brown? He does not pay tax on the earnings that spring from the things he does as a former Prime Minister because he gives all those earnings to charity. Is that not an example which might be followed by other former Prime Ministers?

Taxation: Tax Collection

Debate between Lord Newby and Lord Tebbit

Tuesday 5th February 2013 Lords Chamber

[Lord Newby]

My Lords, the staffing level at HMRC fell from about 94,000 to 66,000 under the previous Government. Under the comprehensive spending review, it is due to fall by about another 10,000. While that is happening, there will, as I said, be an increase of about 2,500 for compliance. There will therefore be a shift towards more compliance against a backdrop of a significant change in the way in which people submit tax returns. In 2010 only 42% of corporation tax returns were submitted online, but in 2011-12 that number had increased by 96,000. As I have said before, the number of staff you need to process that kind of activity has fallen considerably because they are no longer dealing with paper returns.

[Lord Tebbit]

My Lords, will my noble friend think again about the answer that he gave to the noble Lord, Lord Barnett? The noble Lord asked a perfectly simple and straightforward question and it deserves a rather better reply.

[Lord Newby]

My Lords, my reply would be that the Government are cracking down very hard on tax evasion and tax avoidance. We are putting more resources into this area. We are submitting more cases for prosecution and are having more successful prosecutions. The key question is: what is the outcome on the ground? Are more people who avoid and evade tax being taken to court, and are abusive practices being cracked down on? Yes, they are.