Tom Brake
Main Page: Tom Brake (Liberal Democrat - Carshalton and Wallington)Department Debates - View all Tom Brake's debates with the HM Treasury
(6 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mel Stride
I am pleased to be able to inform the hon. Lady that we have been investing heavily in HMRC to clamp down on the issues she has raised—we are talking about some £2 billion since 2010. We have 23,000 staff in HMRC engaged in that purpose and we consequently have about the lowest tax gap in the entire world, at 6%, which is far lower than it was in any year under the previous Labour Government.
Tom Brake (Carshalton and Wallington) (LD)
The Chancellor of the Exchequer (Mr Philip Hammond)
My principal responsibility is to ensure economic stability and the continued prosperity of the British people, and I will do so by building on the plans set out in the autumn Budget and the spring statement. The Government’s balanced approach to the public finances enables us to give households, businesses and our public services targeted support in the near term, and to invest in the future of this country, while also being fair to the next generation by at last beginning to reduce a national debt that is far too large.
Tom Brake
On prosperity, Mark Carney has just said that household incomes are now about £900 lower than was forecast in May 2016, before the referendum. How much lower still does the Chancellor estimate household incomes will be when the UK leaves the customs union and the single market? When will he publish his analysis?
Mr Hammond
On the publication of Government analysis, I have made it clear on several occasions that once Parliament is being asked to vote on a proposal—on a package—it will be appropriate for the Government to publish the analysis that they have, to make sure that that debate is as informed as possible. The future trajectory of household incomes will depend, in part, on the quality of the deal we negotiate as we exit the EU, and we are focused on getting the very best deal for British jobs, British prosperity and British businesses.