Oral Answers to Questions

Paul Blomfield Excerpts

Tuesday 9th March 2021 Commons Chamber

[The Financial Secretary to the Treasury (Jesse Norman)]

What a fantastically niche question from my hon. Friend, and how delighted I am to be able to answer it. He will know that scoring is a matter for the OBR. As the Budget policy costings in the Budget 2021 document set out, the costing for corporation tax has been adjusted to reflect behavioural responses to an increase in the rate of corporation tax. It is important to be clear that dynamic scoring can include a number of potential behavioural responses, such as adjustments to reflect the impact on the incentive to incorporate, on profit shifting, and on investment. If he is so minded, he can find further detail on page 196 of the OBR’s “Economic and fiscal outlook”.

[Paul Blomfield (Sheffield Central) (Lab) [V]]

As some students return to campus this week, those studying in Northern Ireland will each receive £500 support. The Welsh Government have provided hardship funding equivalent to £300 per student. In Scotland, it is £80. For those studying in England, hardship funds equate to just £36, so does the Chancellor not accept the case for equal support across the UK? Students have lost vital income from part-time jobs, paid rent on unused accommodation and faced other costs, so will he meet the all-party parliamentary group for students to discuss our recommendations for hardship support and funding to make up for missed learning opportunities?

[The Chief Secretary to the Treasury (Steve Barclay)]

I am always happy to meet the hon. Gentleman and discuss that matter in more detail. As he will recognise, one of the features of the Budget was the number of UK-wide measures, but at the same time he is quite right to point to the additional £2.4 billion of Barnett consequential funding that was allocated to the devolved Administrations, which has enabled them to apply further support as a result of the fiscal strength that is offered by the UK Treasury. I am of course happy to discuss the specific point with him in more detail.