Amendment of the Law Debate

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Department: HM Treasury
Monday 26th March 2012

(12 years, 1 month ago)

Commons Chamber
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Lord Vaizey of Didcot Portrait Mr Vaizey
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I thank the hon. Gentleman for that intervention—I hesitate to say that it is good to hear from somebody who knows what they are talking about, in case he makes a hostile intervention in a minute. I absolutely hear the point he makes. The protection of intellectual property is paramount. We need to bring the intellectual property regime up to date, but I for one do not want to rob Peter to pay Paul. It is absolutely right that content creators are paid for what they create.

Let me say something at which the whole House will rejoice: I am coming to the end of my remarks. However, if all those who said that they wanted to make an intervention still want to, they have a small window, as I perorate towards my conclusions.

Sarah Newton Portrait Sarah Newton (Truro and Falmouth) (Con)
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I am grateful for my hon. Friend’s cue. Creative industries are vital to Cornwall, but so is creating high-quality food products. There is growing concern throughout Cornwall about the possible unintended consequences of the Budget and about the undoubtedly real threat to the Cornish pasty of the pasty tax. May I seek my hon. Friend’s reassurance that the concerns of pasty makers in my constituency are being listened to and that a solution can be found?

Lord Vaizey of Didcot Portrait Mr Vaizey
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I thank my hon. Friend for that intervention, which I know the Chief Secretary to the Treasury will respond to fully when he winds up. I congratulate her county on receiving the award for being Britain’s best tourist destination for the third year, and I congratulate her on the extraordinary energy with which she represents her constituency. She and I have had many meetings to discuss various issues in her constituency. [Interruption.] You are looking at the clock, Mr Deputy Speaker, so I shall wrap up; however, let me tell my hon. Friend that I hear what she says about the Cornish pasty issue, and I am assured that the Treasury is looking at it seriously.

With a Budget that introduced the largest ever increase in personal allowances, so as to reward work, the lowest corporation tax rate in the G7, so that Britain is open for business, tax reliefs for our creative industries, increased investment in science and technology, and plans to create the best broadband network in Europe, we are well placed to realise the Chancellor’s ambition of making Britain the technology hub of the UK. I do not think that our success to date is “drivel”; I think that Britain is known around the world for its creativity and the success of its creative industries. We on this side of the House intend to ensure that we maintain and increase that success.