Results 1–20 of 12624 for speaker:Philip Hammond

Prime Minister’s Statement (19 Oct 2019)

Philip Hammond: Before I decide whether to jump on the Prime Minister’s bus, I would like to be just a little clearer about the destination; I would like to be reassured that it remains the deep and special partnership with the European Union that we promised the British people in our 2017 election manifesto. In the absence of the UK-wide backstop, which has now gone from the package, the best way to give...

European Union (Withdrawal) (No. 6) Bill (4 Sep 2019)

Philip Hammond: Thank you, Mr Speaker. I want us to leave the European Union with a deal and I voted three times to leave the European Union with a deal. I regret the fact that it has become necessary for this Bill to be brought forward now, and it is necessary now for two reasons: first, because Parliament stands prorogued, so we will not have time potentially to bring Parliament back after my right hon....

European Union (Withdrawal) (No. 6) Bill (4 Sep 2019)

Philip Hammond: I absolutely agree, but we have heard clearly that we cannot rule out the possibility that the Government will dispute the interpretation of the Bill and that there will be a need for litigation in the courts, to ensure that its effect is delivered. We need to act because there is no mandate for a no-deal Brexit, and a no-deal Brexit will be a catastrophe for the United Kingdom. I remind my...

G7 Summit (3 Sep 2019)

Philip Hammond: My right hon. Friend has assured me that he is very keen to get a deal with the European Union, but last Friday Chancellor Merkel of Germany observed somewhat acerbically that nine days into the 30 days that the Prime Minister had requested during his visit to Berlin, she had not yet seen any proposals from the United Kingdom. Could the Prime Minister now make a commitment to publish this...

Written Ministerial Statements — Treasury: Fiscal Risks Report 2019 (18 Jul 2019)

Philip Hammond: In accordance with the Charter for Budget Responsibility, the Office for Budget Responsibility (OBR) has today published its second Fiscal Risks Report (FRR). The OBR published its first FRR in 2017, which the government responded to in 2018 through the Managing Fiscal Risks report (MFR). FRR 2019 fulfils the OBR’s legal obligation to publish a statement setting out the main risks to the...

Written Ministerial Statements — Treasury: ECOFIN 09 July 2019 (16 Jul 2019)

Philip Hammond: A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 09 July 2019. The UK was represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council discussed the following: Early Morning Session The Eurogroup President briefed the Council on the outcomes of the 08 July meeting of the Eurogroup, and the European Commission provided...

Written Ministerial Statements — Treasury: ECOFIN: 09 July 2019 (8 Jul 2019)

Philip Hammond: A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 09 July 2019. The UK will be represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council will discuss the following: Early Morning Session The Eurogroup President will brief the Council on the outcomes of the 08 July meeting of the Eurogroup, and the European...

Oral Answers to Questions — Treasury: Leaving the EU: Scotland (2 Jul 2019)

Philip Hammond: I regularly discuss EU exit with the Secretary of State for Scotland and other members of the Cabinet. The Government remain committed to securing a deal that works for the entire United Kingdom.

Oral Answers to Questions — Treasury: Leaving the EU: Scotland (2 Jul 2019)

Philip Hammond: I have consistently made the case and explained to this House that there is fiscal headroom within the current fiscal rules. If we have a smooth exit from the European Union through a transition that will remove the economic uncertainty that is hanging over our economy, it will then be safe to release that headroom and make it available for additional public spending or, at the choice of the...

Oral Answers to Questions — Treasury: Leaving the EU: Scotland (2 Jul 2019)

Philip Hammond: I announced at the spring statement that it is the Government’s intention to conduct a three-year spending review concluding this autumn, subject to a deal with the EU being completed. Departments are already commissioned to carry out the work necessary for such a spending review, but it will be for the new Government to decide whether the circumstances make it appropriate to conduct a...

Oral Answers to Questions — Treasury: Leaving the EU: Scotland (2 Jul 2019)

Philip Hammond: As I have consistently said in this House, I do not believe that a no-deal exit would be in the interests of this country, and I will do everything I can to ensure that we avoid it, but an exit based on a negotiated deal that allows us to continue a close trading relationship with the European Union can work for Britain, and that is what I will be arguing for.

Oral Answers to Questions — Treasury: Leaving the EU: Scotland (2 Jul 2019)

Philip Hammond: Yes, my hon. Friend is exactly right. The Scottish economy would be far more adversely affected by a breach of trading relationships with the rest of the United Kingdom than it will by a breach in trading relationships with the European Union.

Oral Answers to Questions — Treasury: Spending Review (2 Jul 2019)

Philip Hammond: As the right hon. Gentleman would have heard me say if he had been in his place earlier, I announced in the spring statement that it is the Government’s intention to conduct a three-year spending review, concluding this autumn, subject to a deal with the EU being completed. He asks whether I plan to launch the spending review before the summer recess: I can tell him that Departments have...

Oral Answers to Questions — Treasury: Spending Review (2 Jul 2019)

Philip Hammond: I fear that the right hon. Gentleman is manifestly asking the wrong person that question. I literally cannot answer it. The purpose of a spending review is that such matters can be looked at in the round, and the responsible way to do a spending review is first to set the envelope of what is affordable, and then to look at the different bids, which will—I can confidently predict—greatly...

Oral Answers to Questions — Treasury: Spending Review (2 Jul 2019)

Philip Hammond: As my hon. Friend knows, we have signed off the Truro funding decision, and I am sure she is happy about that. The Prime Minister has made very clear that dealing with the challenges in the housing market is a priority for the Government, and in the spending review we will continue to prioritise funds to support both the housing market and the provision of social and affordable housing.

Oral Answers to Questions — Treasury: Spending Review (2 Jul 2019)

Philip Hammond: I think the hon. Gentleman has sketched a highly unlikely scenario, but I can answer his question. We have built up about £26 billion or £27 billion of fiscal headroom, and the purpose of that headroom is precisely to protect the UK economy from the immediate effects of a possible no-deal exit. I have no doubt whatsoever that in the event of a no-deal exit we will need all that money and...

Oral Answers to Questions — Treasury: Spending Review (2 Jul 2019)

Philip Hammond: We are committed to investment in infrastructure. One of the things that I have done in my three years as Chancellor is move the balance of spending towards investment in economic infrastructure, and we now have the highest level of public capital investment for 40 years. We have a National Infrastructure Commission to set long-term guidance for the Government on how to invest in...

Oral Answers to Questions — Treasury: Topical Questions (2 Jul 2019)

Philip Hammond: My principal focus is to ensure the continued resilience of the UK economy and public finances at this time of uncertainty. Thanks to the hard work of the British people, our national debt is now falling sustainably for the first time in a generation, but it is still too high and it is vital that the Government continue to get debt down to ensure that the economy is resilient against future...

Oral Answers to Questions — Treasury: Topical Questions (2 Jul 2019)

Philip Hammond: We have done so: by 2023-24 we will be spending an extra £34 billion a year on the national health service. That is a record cash injection to our national health service, which represents this Government’s commitment to it.

Oral Answers to Questions — Treasury: Topical Questions (2 Jul 2019)

Philip Hammond: Yes, it is a vital cornerstone of our institutional structure that the Bank of England remains independent, and those who have suggested that they would seek to politicise appointments to the Bank of England would be doing a great disservice to this country and our economy.


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