Budget Resolutions - Income Tax (Charge)

Part of the debate – in the House of Commons at 6:44 pm on 31st October 2018.

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Photo of Robert Jenrick Robert Jenrick The Exchequer Secretary 6:44 pm, 31st October 2018

That was unfair, because I am addressing the points that have been raised by Members from all parts of the House. [Interruption.] Mr Jones may not like the answers, but I am providing them. With respect to the digital services tax—it is a tax that has been raised by numerous Members across the House—we are the first major country to do this, and it will raise in excess of £1.5 billion, ensuring that, in our thriving economy, our tech-friendly economy, those who generate value from UK users will pay a fair contribution to tax. We look forward to publishing more information and to the consultation on that, which, clearly, hon. Members may wish to take part in.

We chose in this Budget to invest in the long-term economic infrastructure of the country—a subject that has been raised by a number of my colleagues—raising investment levels in this country to the highest sustained level in my lifetime. That is the mark of a mature economy, which is not just spending everything on immediate consumption, but spending money for long-term investment. Public capital investment in this country will be £460 million a week higher under this Government than it was under the previous Labour Government. We have heard some of the ways that we will spend that. We will spend it by increasing investment in our roads—in every type of road. A number of colleagues from across the House—