Autumn Statement

Part of Oral Answers to Questions — Prime Minister – in the House of Commons at 1:25 pm on 3rd December 2014.

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Photo of George Osborne George Osborne The Chancellor of the Exchequer 1:25 pm, 3rd December 2014

I have taken measures to reform stamp duty in a progressive way and introduced a tax, which could have been introduced in any Budget by a Labour Chancellor, to deal with multinational companies that divert their profits overseas. I have ensured that profits cannot be written off against losses incurred during the financial crisis—again, any Labour Chancellor could have done that but they did not. I am determined to ensure that the richest in our society make a contribution and that businesses pay our low taxes. More generally, the result of a pro-business policy is that in the hon. Gentleman’s constituency alone—I think he just dismissed this out of hand—unemployment has fallen by 20% in the last year. I would have thought he would welcome that.