Oral Answers to Questions

Debate between Mel Stride and Christian Matheson

Tuesday 21st May 2019 Commons Chamber

[Christian Matheson (City of Chester) (Lab)]

11. What assessment he has made of the potential merits of extending business rates relief to more music venues.

[The Financial Secretary to the Treasury (Mel Stride)]

We announced in the Budget that we were reducing business rates for small retailers and others by one third. Music venues are not specifically included, although local authorities may make some judgments around that. We, of course, keep all tax reliefs and taxes under review.

[Christian Matheson]

The music sector contributes billions to the economy and so much more in terms of life enrichment, but the opportunity pipeline is being constricted as music venues close under pressure. Will the Minister agree to just a small tweak to the retail discount scheme guidance to make it clear that music venues are eligible?

[Mel Stride]

Music venues are eligible for many of the reliefs, worth £13 billion over the coming years, we have introduced since 2016, as well as the switch from uprating the multiplier from RPI to CPI. Many benefit from small business rates relief as well. I will of course, as with all representations, take the hon. Gentleman’s comments on board and consider them going forward.

Oral Answers to Questions

Debate between Mel Stride and Christian Matheson

Tuesday 9th April 2019 Commons Chamber

[Mel Stride]

It is most certainly not our priority to reduce SDLT for the very wealthy. In fact, the current levels—12% plus 3% if it is an additional dwelling—are high. I can also inform the hon. Lady that the amount we raised through stamp duty land tax in 2017-18 was twice the amount raised back in 2010-11.

[Christian Matheson (City of Chester) (Lab)]

10. What representations he has received on the introduction of the 2019 loan charge.

[The Financial Secretary to the Treasury (Mel Stride)]

The loan charge was announced at Budget 2016 and was subject to public consultation. We have received representations, including from campaigners and the wider public. Disguised remuneration schemes pay loans in place of ordinary remuneration, with the sole purpose of avoiding income tax and national insurance.

[Christian Matheson]

I fully support measures to close loopholes for disguised remuneration, but not when they affect my constituents retrospectively. If the loans were illegal at the time my constituents took them out, why is it now necessary to introduce the loan charge?

[Mel Stride]

It is important that the House fully understands how disguised remuneration works. If, instead of paying an employee their earnings in the normal way, an employer pays them by way of a loan via an offshore trust in a low or no-tax jurisdiction—with no intention of ever repaying the loan and simply to avoid national insurance or income tax—that is wrong. As for the matter of retrospection, that model has never, ever complied with our tax code. The loans to which I refer are persisting today, not retrospectively. That is why it is right—and only fair on those taxpayers who pay the correct amounts at the right time, and on our vital public services, which rely on that money—that we collect it.

Oral Answers to Questions

Debate between Mel Stride and Christian Matheson

Tuesday 5th March 2019 Commons Chamber

[Mel Stride]

It is just little old me, I am afraid, but I have to say that I believe we should respect the result of the June 2016 referendum, a democratic exercise that saw a higher turnout than for any other democratic event in the history of our country. The important thing now is that we get the right deal for us to leave, which we are working on. When it comes back to Parliament, I hope that the hon. Gentleman will support it.

[Christian Matheson (City of Chester) (Lab)]

21. The Chancellor has recently attended two events that I was also present at, which were organised by major aerospace companies, so he knows how they feel about the terrifying prospects of no deal. As these are the companies that pay this country’s bills, why is he ignoring them?

[Mel Stride]

We are most certainly not ignoring those businesses—or indeed businesses from a variety of different sectors up and down the economy. We have been deeply engaged with business, through the Treasury, the Department for Business, Energy and Industrial Strategy and other Departments. I can assure the hon. Gentleman that, for example, on the issue of just-in-time deliveries and the flow of trade across our borders, we have done an immense amount of work to prepare for the possibility of a no-deal exit to make sure that we protect the very companies to which he refers.

Oral Answers to Questions

Debate between Mel Stride and Christian Matheson

Tuesday 6th November 2018 Commons Chamber

[Christian Matheson (City of Chester) (Lab)]

2. What recent assessment he has made of the potential effect on tax revenues of the UK leaving the EU.

[The Financial Secretary to the Treasury (Mel Stride)]

The Government will be coming forward with a full and appropriate analysis of the impact of the deal we negotiate with the European Union well in time for the meaningful vote.

[Christian Matheson]

The Government’s own figures demonstrate between a 2% and 8% hit on the broader economy after Brexit. Is it not the case that there is no form of Brexit that will not have a massive impact on the public finances and, therefore, on public services?

[Mel Stride]

We are in the middle of a negotiation. At the appropriate moment, when we know exactly what the deal is—the deal that is available and that we have negotiated—we will of course come forward with a full and comprehensive analysis of both the fiscal and the economic impacts of that deal.

Paradise Papers

Debate between Mel Stride and Christian Matheson

Monday 6th November 2017 Commons Chamber

[Mel Stride]

I think that if the hon. Lady checks my answer to the question from her right hon. Friend in Hansard, she will see that that was not the totality of my response, and that I also referred to dollar-denominated trading and the complexities thereof. She may then be able to answer her own question.

[Christian Matheson (City of Chester) (Lab)]

According to the Government’s assessment, how many UK citizens and how many UK-registered companies have these offshore accounts, and how much money has the UK, as represented by those two entities, got salted away in them?

[Mel Stride]

As the hon. Gentleman will know, those are not figures that I have at my fingertips. As he will also know, confidential arrangements are rightly in place in many of the structures to which he refers; indeed, he, and perhaps even the headquarters of his party, might even be held within one of those arrangements. Of necessity, that particular information is not fully available.