Oral Answers to Questions

Baroness Coffey Excerpts

Wednesday 5th December 2012 Commons Chamber

[The Prime Minister]

The point I would make to the hon. Gentleman is that there is common ground between us, which is that we want those large multinational companies to pay proper taxes here in the UK. We believe that you do that by having low tax rates—and we have reduced the rate of corporation tax—and ensuring that they declare their income properly. On the specific issue of transfer payments, some companies have been pursuing rather strange practices to pretend that their revenues are not delivered here in the UK to run down their tax bills. As I have said, in the past four years we have recovered £4 billion in tax revenue in that way, but the Treasury and the HMRC very much know that there is more we can do.

[Dr Thérèse Coffey (Suffolk Coastal) (Con)]

Residents of Suffolk Coastal were very excited when the Energy Bill was published last week, because it gives a potential green light to the building of Sizewell C nuclear power station and many jobs. Will the Prime Minister commit to continuing to invest in apprenticeships and skills training so that Suffolk people can get the jobs that will be created?

[The Prime Minister]

My hon. Friend is absolutely right. The presentation of the Energy Bill to Parliament means that we can get out there and sell to all the energy companies the clear and stable framework that the UK has for offshore wind, nuclear, renewables and gas. It is a very positive development and there is a huge amount of potential pent-up investment, and we need to ensure that that results in British jobs and British apprenticeships. The Government are fully committed to making that happen.