Oral Answers to Questions

Rob Wilson Excerpts

Tuesday 24th April 2012 Commons Chamber

[Mr George Osborne]

What I find extraordinary is that we have a Labour MP supporting the idea that the very wealthiest people in this country pay no income tax. That is an extraordinary thing for a Labour MP to advocate. As I say, we have made reforms in the Budget to improve the tax system and to ensure that people at the very top of the income scale pay some income tax.

[Mr Rob Wilson (Reading East) (Con)]

T10. The Thatcher Governments unleashed a decade or more of enterprise in this country. Young entrepreneurs today are still key to a private sector-led recovery, but only 3% of 18 to 24-year-olds set up their own business. Will the Chancellor consider further support for the new enterprise allowance and other schemes to increase assistance to young entrepreneurs?

[Mr Osborne]

The new enterprise allowance has been introduced and already some 10,000 people are developing their own business ideas using the incentive of the allowance. As I set out in the Budget, we are considering the case for enterprise loans. The Government provide a loan for people going to university, but what about a loan for people who want to start their own business? We will come to the House with ideas on that subject later this year.

Budget Leak Inquiry

Rob Wilson Excerpts

Thursday 22nd March 2012 Commons Chamber

[Mr Gauke]

My right hon. Friend the Chancellor set out yesterday a Budget for growth and for working people. There was an awful lot of information in it. It was an ambitious Budget, and one of which this Government are very proud.

[Mr Rob Wilson (Reading East) (Con)]

Does my hon. Friend agree that Budget leaks are to be deplored, as indeed is the alleged break-in at the Leader of the Opposition’s office, purportedly to find his Budget policies? I can inform the House that the would-be thief left empty-handed.

[Mr Gauke]

It would be a very foolish thief whose motivation was to find policies from the Leader of the Opposition.

Tax Avoidance (Public Servants)

Rob Wilson Excerpts

Thursday 2nd February 2012 Commons Chamber

[Danny Alexander]

I cannot give a detailed answer about the fees paid to that company. My understanding of the arrangement that was in place is similar to that which the hon. Gentleman has described.

[Mr Rob Wilson (Reading East) (Con)]

I know that the Chief Secretary well understands that there is a question of fairness at the heart of this issue for all public sector employees, so should we not either allow all employees of the Government the same advantages of tax efficiencies, if legal, or stamp out such practices altogether, right across the public sector?

[Danny Alexander]

I would not agree with the hon. Gentleman that such arrangements should be put in place for every public sector employee. The review that I have put in place is precisely designed to root out such arrangements across Government.

In answer to the earlier point, I gather that the fees that the hon. Member for Rochdale (Simon Danczuk) asked about are set out in the Student Loans Company annual report, which is available publicly, so he may wish to avail himself of a copy.

Public Service Pensions

Rob Wilson Excerpts

Tuesday 20th December 2011 Commons Chamber

[Mr Rob Wilson (Reading East) (Con)]

I congratulate the Chief Secretary and indeed the Minister for the Cabinet Office and Paymaster General on the successful negotiations, particularly in respect of the protection for low-paid workers. Is the Chief Secretary as disappointed as I am that the PCS union has not only walked away from this agreement but has continually misled its members by telling them that the Government were not interested in meaningful negotiations. How does that sit with so many other unions that have signed the heads of terms today?

[Danny Alexander]

I do not know quite how disappointed my hon. Friend is, but I am certainly very disappointed in the stance of the PCS. I hope that it will come round in time to seeing this as a beneficial and positive agreement. It is striking that, in the end, other trade unions have looked at the interests of their members and put those first rather than be too worried about the rhetorical position of a small minority of unions.

Autumn Statement

Rob Wilson Excerpts

Tuesday 29th November 2011 Commons Chamber

[Mr Osborne]

I had probably forgotten that we had inherited a golden economic legacy from the Labour party. What I remember is that we inherited a country that did not have a credible plan to deal with the deficit, which the credit rating agencies had put on negative outlook, and which the CBI, the OECD and all the other international organisations said lacked a credible plan.

Of course, as the OBR has made clear in its independent report, we are dealing with the consequences of the catastrophic failure of the last Labour Government to regulate financial services better, not least during the period when the shadow Chancellor was City Minister. That caused one of the deepest crashes of our country’s history. [Interruption.] We no longer hear the phrase “No more boom and bust” from the shadow Chancellor. He invented that phrase, and he gave us the largest boom and the biggest bust in our entire history.

[Mr Rob Wilson (Reading East) (Con)]

I congratulate the Chancellor on his statement, and in particular on the new tax breaks for private investors in start-up companies. As I have not seen the details yet, can the Chancellor briefly elaborate on how the system will work for smaller investors?

[Mr Osborne]

The seed enterprise investment scheme will provide 50% tax relief for all who invest in a qualifying start-up, even if they do not pay the 50% rate of income tax. The investment can be up to £100,000, although of course it can be much less. The companies involved can receive a maximum of £150,000. Those who have a capital gain can invest up to £100,000 of it in the scheme, and the amount will be tax-free for the next financial year. The scheme is aimed at small as well as slightly larger investors, and is designed to help start-up companies to obtain the finance they need.

Eurozone Crisis

Rob Wilson Excerpts

Thursday 27th October 2011 Commons Chamber

[Mr Osborne]

I am not providing that advice across the Dispatch Box, but the Financial Services Authority, the Bank of England and the Treasury monitor British financial institutions to ensure that they are appropriately prepared for things that might happen. The European Banking Authority test that I have talked about takes into account a mark to market on the sovereign debt exposures of countries such as Italy and Spain.

[Mr Rob Wilson (Reading East) (Con)]

The Opposition have talked a lot about Britain’s marginalisation, so may I say that I welcome the fact that the Prime Minister attended yesterday’s meeting because I know that the Leader of the Opposition would much prefer President Sarkozy to represent this country? Will my right hon. Friend confirm that while he is Chancellor he will do everything he can to ensure that a British Prime Minister represents British interests in Europe?

Eurozone

Rob Wilson Excerpts

Monday 10th October 2011 Commons Chamber

[Mr Speaker]

Order. At one point I thought that the hon. Member for Reading East (Mr Wilson) had toddled out of the Chamber, but I am delighted that he is back in his place and we want to hear him.

[Mr Rob Wilson (Reading East) (Con)]

My right hon. Friend was right to be concerned in his statement about money finding its way to small and start-up businesses. May I urge him to consider streamlining the current, overly complex enterprise investment scheme and add tax relief to those business angel investors who are making their savings available to small businesses in this country? Such an approach would give a much-needed boost to small business in this country.

[Mr Osborne]

My hon. Friend will be pleased to know that we have just announced reforms to the EIS to make it more generous and, we hope, simpler to claim.

Oral Answers to Questions

Rob Wilson Excerpts

Tuesday 21st June 2011 Commons Chamber

[Danny Alexander]

We always said that the economic recovery would be choppy, but it is none the less welcome that we have seen significant job creation in the private sector over the past year. That offsets some of the job reductions in the public sector that are necessary as part of our deficit reduction programme.

[Mr Rob Wilson (Reading East) (Con)]

May I tell my right hon. Friend that since May last year unemployment in my constituency has fallen by 11%? That is due to fast-growing private companies, such as Pegasystems. Is not the key to reducing high unemployment sticking to the deficit reduction programme and removing barriers to growth?

[Danny Alexander]

My hon. Friend is absolutely right. We have to stick to the deficit reduction programme, which is the essential underpinning for future economic growth in this country. We also need to take steps to ensure that that economic growth is balanced across the country, and the regional growth fund and the local enterprise partnership programme are an important part of ensuring that we have growth across the entire United Kingdom.

Autumn Forecast

Rob Wilson Excerpts

Monday 29th November 2010 Commons Chamber

[Mr Osborne]

I will tell the hon. Gentleman what this issue is about: the hypocrisy of the Labour party. Labour Members set up Lord Browne’s report, and the shadow Chancellor was in the Cabinet that agreed to that. Lord Browne has reported, and now they are all walking away from it—it is absolutely pathetic.

[Mr Rob Wilson (Reading East) (Con)]

Compared with June, the OBR predicts, in table 4.21 on page 118, that we will save £19 billion in interest payments. Contrary to what the shadow Chancellor said, are not the choices made by my right hon. Friend the right ones to ensure that we have this £19 billion to spend on schools and hospitals rather than putting it in the pockets of foreign Governments and private bondholders?

[Mr Osborne]

My hon. Friend is absolutely right. This is one of those issues that is perhaps less commented on, but very relevant. We are reducing the debt interest payments that we inherited from Labour, and the debt interest bill—the money that we have to pay out to private bondholders and foreign Governments to borrow—is coming down from the number that we inherited. That is £19 billion that would otherwise, if we followed the Labour party’s plans, be being paid to foreign Governments and private bondholders. That is how Labour Members want taxpayers’ money spent; we have other plans for it.

Financial Assistance (Ireland)

Rob Wilson Excerpts

Monday 22nd November 2010 Commons Chamber

[Mr Osborne]

As my hon. Friend says, we are now part of the solution rather than being part of the problem.

[Mr Rob Wilson (Reading East) (Con)]

May I offer the Chancellor my support in the difficult task that he has ahead? Will he spell out for the House what he believes the consequences of leaving the euro would be for Ireland?

[Mr Osborne]

As I have said, that has to be a matter for Ireland. It has not been raised by them in any discussion, publicly or privately, and I do not think that I should speculate about it.