Meg Hillier
Main Page: Meg Hillier (Labour (Co-op) - Hackney South and Shoreditch)Department Debates - View all Meg Hillier's debates with the HM Treasury
(3 years, 4 months ago)
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Rishi Sunak
My hon. Friend will I hope appreciate that the various things he just mentioned total about, I think, £20 billion or £30 billion, so he will understand it is reasonable that we consider all these things in the round at Budget, when we will set out the next stage in our economic response to coronavirus.
Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)
The Office for Budget Responsibility estimates that HMRC will forgo around £800 million in customs income and VAT over the next year. Some is deferred, but much is forgone. Will the Chancellor tell us what he is doing to make sure that that number shrinks and that revenue comes in at a time when the Exchequer needs it really very badly?
Rishi Sunak
I will have to go and check the exact figures, if the hon. Lady will forgive me for not knowing the specific paragraph that she refers to. In general HMRC is providing easements over the next few months as we transition to a new set of trading relationships, but she can rest assured that we are always mindful of the impact on revenue and intend fully—very much so—to have a robust set of mechanisms in place. As she will know, there is a phased response for getting to that point between now and July, and hopefully we can work with her to make sure that that path is as seamless as possible.