G20 Summit

Debate between Rishi Sunak and John Redwood

Monday 11th September 2023 Commons Chamber

[The Prime Minister]

I refer the hon. Gentleman to my previous answer on Mr Johal. Most recently, the Foreign Office Minister met Mr Johal’s family to discuss the case in detail.

Turning to the hon. Gentleman’s other points, on our investment partnerships, the British investment partnership approach with India, for example, has invested over £2 billion to support 600 different enterprises, employing about half a million people. That is just to give him some sense of the scale of the alternative projects we are involved in.

Lastly, I turn to the hon. Gentleman’s point, which the Leader of the Opposition also raised, about the US Inflation Reduction Act and the approach of other countries. Neither seem to recognise that the approach we have taken is working for the UK, not least with the recent announcement of a £4 billion investment in the UK by Tata, which represents the single largest investment in our auto industry, potentially ever, to build a gigafactory here. That was followed by investment by Stellantis and BMW to secure future electric vehicle manufacturing in the UK. Any which way we look at it, our auto manufacturing sector is receiving record amounts of investment to make the transition to electricity-oriented vehicles. That is because of the tax, regulatory and incentive regime we have put in place, which is delivering real jobs and real opportunity for the British people.

[John Redwood (Wokingham) (Con)]

Did the Chinese representatives give any indication of when they might stop their big increases in carbon dioxide and start to reduce them? Does the Prime Minister agree with me that it makes no sense for the UK to rely on Chinese imports of electric vehicles, solar panels and other green products when they are so CO₂-intensive in their production, and deny us the jobs and added value?

[The Prime Minister]

My right hon. Friend makes a good point. He will see in the G20 declaration a commitment by all members recognising the need to peak emissions in the next couple of years. To his broader point, that is why the Government have consulted on measures to address carbon leakage. It is absolutely right that there is a level playing field, and that if we take action here it should not come at the cost of British workers if it ultimately makes no difference to global emissions. That is why we have consulted on proposals on carbon leakage, and I very much welcome his thoughts on that.

Northern Ireland Protocol

Debate between Rishi Sunak and John Redwood

Monday 27th February 2023 Commons Chamber

[The Prime Minister]

This is about ensuring the free flow of goods within our United Kingdom; that is what the green lane is there to do. It was always going to be the case after we left the European Union that sending things to the European Union from the UK would be different. What this agreement is about is prioritising trade within the United Kingdom’s internal market, and the green lane that we have delivered through this framework does exactly that.

[John Redwood (Wokingham) (Con)]

Who will decide which EU laws will apply in Northern Ireland, and on what basis will they make that decision?

Economy Update

Debate between Rishi Sunak and John Redwood

Thursday 26th May 2022 Commons Chamber

[Rishi Sunak]

I know that, for some people, it will never be enough. That is why the SNP’s plans would leave Scotland with, I think, a 20% budget deficit and bankrupt the country. That is not something that we will ever do to the people of Scotland or the United Kingdom.

The hon Member’s point on food prices was surprising and slightly puzzling, given I have just returned from a meeting of Finance Ministers from around the world where everyone was talking about increasing food prices. As far as I know, they did not all leave the European Union, but I will leave that to her.

The hon. Member talked about benefits uprating. Perhaps she did not understand exactly what we were announcing. What we are doing for those on means-tested benefits is more generous than uprating. On average, uprating would be worth just over £500, whereas the one-off payment is worth £650.

The hon. Member also talked about timing. She mentioned many things that have happened this week. The other thing that happened this week is that we heard from Ofgem, and we got more certainty on what the price cap will be in autumn. That is the single most important factor in trying to size the support that we are providing to people, because it is energy costs that are the biggest driver of the inflation that we seeing now.

[John Redwood (Wokingham) (Con)]

When the Chancellor approved £150 billion of extra cash to be printed in November 2020 and gave a full guarantee against losses on the bonds, did he think that there could be any inflationary and public spending risk from that? I fully support giving back the huge windfall taxes that he is already collecting on energy, the VAT on fuel, the rip-off at the pumps and the much-enhanced profits tax coming from North sea oil and gas. That should be given back because people need some relief. On inflation, though, what did he think when he printed the money?

[Rishi Sunak]

I am grateful to my right hon. Friend for his question. He and I have talked about inflation for quite a while. He will know that I have long been concerned about the potential of rising inflation and interest rates. It is something that he and I discussed very early in my time in this job. That is why, from the beginning, I have been careful to protect our public finances against the costs of rising inflation and interest rates. I am glad that we took those decisions. Now, because of that, we are in a position to act and to support people.

International Aid: Treasury Update

Debate between Rishi Sunak and John Redwood

Programme motion
Tuesday 13th July 2021 Commons Chamber

[Rishi Sunak]

If my numbers are right, as a percentage of GDP we were for the last few years spending double what Labour ever spent when it was in office, and my right hon. Friend is right about what we will be doing even at this reduced level.

Today’s approach is a pragmatic approach to meeting our commitments to the world’s poorest today and to have the secure fiscal foundations we need to meet those commitments for decades to come. We should be proud of what UK overseas aid means to millions of the world’s poorest people. It means tens of millions of girls around the world getting a better education. It means food parcels stamped with a Union Jack arriving in famine stricken countries such as Syria and Somalia. It means wind turbines, solar panels and hydroelectric dams generating clean energy in developing countries. I am proud, as I know the whole House will be proud, of the extraordinary good this country is doing around the world.

[John Redwood]

I am looking forward to this answer. Will the Chancellor remind the House, given that we are rightly keen to save as many lives as possible, that this country has given a great gift to the world with many free vaccines and pioneered the cheapest and one of the best vaccines to save lives all around the world?

[Rishi Sunak]

I completely agree with my right hon. Friend, and I will come on to that in a minute.

I am proud, too, of our response to last year’s economic crisis—the deepest recession this country has ever seen. In total, we have provided hundreds of billions of pounds to protect jobs, keep businesses afloat and help families to get by. That was the right approach, but we should be clear-eyed: covid has severely damaged our public finances. We have the highest level of borrowing since world war two, national debt of £2 trillion and rising, and debt expected to peak at 100% of GDP. If we want to continue to meet our commitments in the future, both at home and overseas, we must act now to rebuild our fiscal resilience.

Economic Update

Debate between Rishi Sunak and John Redwood

Wednesday 8th July 2020 Commons Chamber

[Rishi Sunak]

I am very happy to look at the proposal from the hon. Gentleman, and I am sure that the Transport Secretary is fully abreast of it. I will pick it up with him as well.

[John Redwood (Wokingham) (Con)]

The focus on jobs, and the measures, are excellent, so will the Government now review the taxes, subsidies and public procurement regulations so that they can be amended to allow us to grow more of our own food, land and process more of our own fish, generate more of our own power, and supply more of the things that our health service and Ministry of Defence require, because it can be better made in Britain, and better made with British jobs?

[Rishi Sunak]

I thank my right hon. Friend for his support, and he is absolutely right: leaving the EU provides us with a unique opportunity to re-examine all our procurement rules and many of our regulations. I share his passion to ensure that, as much as possible, we support our local economy and create jobs, which has never been more vital than it is today.

Economic Update

Debate between Rishi Sunak and John Redwood

Tuesday 17th March 2020 Commons Chamber

[Rishi Sunak]

I thank the right hon. Gentleman for his constructive attitude, and I look forward to working with him. The loan terms will be interest-free for six months. Because of the liquidity that has been provided by the Bank of England, they will be incredibly cheap, and they will be available on a rolling basis for commercial paper, so they will be loans that are accessible and very valuable to businesses. They will be ready from next week.

[John Redwood (Wokingham) (Con)]

I am delighted that the Chancellor recognises the need for burden-sharing on employment costs in badly affected sectors such as tourism, travel and hospitality, but will he also make sure that there is a package for the self-employed, because some of those people are losing a large amount of their business, too?

[Rishi Sunak]

My right hon. Friend has written about the importance of employment support, and I look forward to getting his thoughts on those measures.

Non-Domestic Rating (Preparation for Digital Services) Bill

Debate between Rishi Sunak and John Redwood

2nd reading: House of Commons & Money resolution: House of Commons & Programme motion: House of Commons
Monday 13th May 2019 Commons Chamber

[The Parliamentary Under-Secretary of State for Housing, Communities and Local Government (Rishi Sunak)]

I beg to move, That the Bill be now read a Second time.

This Government are committed to ensuring that the tax system is fit for the 21st century, that it is designed around the needs of the taxpayer and that we minimise as far as possible the administrative burden for businesses paying their taxes. The Government are also clear that this system should reflect and take full advantage of modern technology, and use that to make the process as simple and efficient as possible for taxpayers.

This very narrow Bill will support those aims in the context of the administration of business rates. This extremely short and simple measure will simply allow us to start exploring future digital reform of the business rates system. The same clauses appeared in the 2017 Local Government Finance Bill and passed through Committee without Division. The hon. Member for Oldham West and Royton (Jim McMahon) was present during those debates, and I hope the clauses will receive the House’s support again today.

[John Redwood (Wokingham) (Con)]

Can the Minister give an idea of the cost involved and what sort of efficient and better system might emerge?

[Rishi Sunak]

The measure is even narrower than that; it is simply a paving measure, which I will come on to, that enables that exploratory work to start so that future Ministers will be able to come to this House with firmer proposals, with costs attached, depending on the eventual design of the system that is ultimately decided to be appropriate after extensive consultation with the sector. If my right hon. Friend bears with me, I hope his question will be answered later. If not, I will be happy to have him intervene again.

In the lead-up to the 2016 Budget, the Government undertook a wide-ranging review of the business rates system, in response to public calls to reform. As well as seeking views on the business rates tax itself, the review invited specific feedback on the administration of the rates system, including how business rates are collected.

Responding to the review, business groups called for a number of changes to the way the system is run, including switching the annual indexation of the business rates multiplier to the consumer prices index, rather than the retail prices index; implementing more frequent valuations; and modernising the billing and collection of business rates. I am pleased to say that the Government have already begun reforming the system to implement those changes.

Ratepayers are already benefiting from the change to the annual indexation of business rates from RPI to CPI, which was brought forward by two years, to April 2018. That measure alone is worth almost £6 billion to businesses over the next five years. The Government have also committed to increase the frequency of business rate revaluations from every five years to every three. To ensure that businesses benefit from that change at the earliest point, the Government have further announced that the next revaluation will be brought forward from 2022 to 2021. That will ensure that, as requested, business rates bills more accurately reflect properties’ up-to-date rental value and any relative changes in rents.

The Bill will enable us to begin exploring how to modernise the billing and collection of rates. Businesses in this country are of course already banking, paying bills and making sales online. Our tax system needs to keep pace.