Results 1–20 of 12004 for speaker:Philip Hammond

Previous Business – Commons: Select Committee (6 Dec 2017)

Treasury: Budget Autumn 2017. 2:00 pm; The Wilson Room, Portcullis House
Witnesses: Rt Hon. Philip Hammond MP, Chancellor of the Exchequer Clare Lombardelli, Director, Strategy, Planning and Budget, HM Treasury

Written Ministerial Statements — HM Treasury: ECOFIN: 5 December 2017 (4 Dec 2017)

Philip Hammond: A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 05 December. EU Finance Ministers will discuss the following items: Early Morning Session The Eurogroup President will brief Ministers on the outcomes of the 04 December meeting of the Eurogroup, and the Commission will provide an update on the current economic situation in the EU. The Chair of the...

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: The national living wage will rise to £7.83 from April 2018. In total, that represents a pay rise of over £2,000 for a full-time minimum wage worker since the introduction of the national living wage in 2016, which has helped to reduce the proportion of full-time jobs that are low paid to the lowest level in at least 20 years. At the same time, in-work benefits support the incomes...

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: As I have just pointed out, those on the national living wage have actually gained £2,000 a year. The commitment on the national living wage was, and remains, that it will reach 60% of median earnings, and it will continue to do so. On the hon. Gentleman’s other point, he will note that real household disposable income per head, a much more appropriate measure of living standards,...

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: The best policy for Britain, including for the wages of British workers, is to get a good deal with the European Union that secures high levels of access to European markets after we leave the EU, and that is what we intend to do.

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: Yes. Indeed, that was the central theme of the Budget. If we are to ensure prosperity for all our people in the future, we must embrace the technologies and businesses of the future and create the jobs of the future. We must be prepared to invest in the infrastructure that is needed to support them and in giving our people the skills that they will need to take advantage of those high-paid jobs.

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: I am sure the hon. Gentleman knows that the blanket pay cap across the public sector has indeed been removed—that was announced in July by the Chief Secretary to the Treasury, my right hon. Friend the Member for South West Norfolk (Elizabeth Truss). That will mean that individual Secretaries of State can look at the particular circumstances of the workforces for which they are...

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: Yes, £11,850—my hon. Friend is exactly right. It is by keeping to our commitment that we made in our manifesto of increasing the personal allowance to £12,500 by 2020 that we will ensure that people keep more of their income. Going back to the original question, people on the national living wage are now £3,600 a year better off after tax than they would have been in 2010.

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: I am not sure whether the hon. Gentleman was listening to the answer that I gave to the hon. Member for Ilford North (Wes Streeting) a few moments ago. We have ended the blanket pay cap across the public sector and are allowing Secretaries of State to make recommendations to the pay review bodies that reflect the circumstances of their individual workforces.

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: My hon. Friend is exactly right. The uncomfortable fact for the Opposition Front Benchers is that income inequality in this country is now the lowest it has been since the mid-1980s—lower than it was at any point during the 13 years of the Labour Government.

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: Yes, and it is one of this Government’s proudest achievements that we have created 3 million new jobs in this country since 2010. The right hon. Member for Hayes and Harlington (John McDonnell) might reflect on his prediction in 2011 that the Government’s policies would cost the economy 1 million jobs. That turned out to be slightly wide of the mark.

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: It is a priority of the Government to continue to close the gender pay gap, which is now at its lowest level ever.

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: As the hon. Gentleman will know, in the end wages can only be paid for by the productive output of workers. Increasing the productivity of workers in the British economy, so that they can produce more and earn more in a way that allows their firms to remain competitive while paying them more, is the way forward, and that is what the Government will pursue.

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: The Government recognise the importance of closing the economic gap between regions of our country as an economic and social priority, and the industrial strategy is focused on doing that. If we eliminated just half of the productivity gap with London, we would add £300 billion to our gross domestic product; that is £4,600 for every man, woman and child in this country. That is why...

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: The Government are committed to the Sheffield city region deal, which will bring £1 billion of new Government investment to the area. We recognise the debate that is going on about a possible wider Yorkshire-based deal and we are happy to consider that, if it can be done in a way that does not disrupt the existing deal that has been agreed for the Sheffield city region.

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: We know some of the things that drive our low productivity performance. Regional differences are one of them, and others are low levels of capital investment in private businesses, relatively low levels of public infrastructure investment and poor skills. We set out in the Budget a raft of measures that will address all of them. The end result is that this Government, on average, over this...

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: My hon. Friend has been consistent in arguing the case for the promotion of self-build and custom house building, which has an important role to play in our ambition of delivering 300,000 new net additional homes a year by the middle of the next decade.

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: I am absolutely happy to agree with my hon. Friend. The North sea as a basin is coming towards the end of its life, but none the less there are many billions of barrels of oil to be exploited there, involving very large amounts of economic activity in the region and potentially significant receipts to the Treasury. The measure that we have taken will stimulate economic growth in the region...

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: I heard what the hon. Lady said, and my hon. Friend the Member for Harrogate and Knaresborough (Andrew Jones) tells me that he is meeting the Mayor of Manchester next week to discuss this issue.

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: It is. GCHQ is a world-class resource. The way it has engaged in seeking to use its expertise to create a world-class cyber-security business sector in the UK economy is exemplary, and we should encourage it.


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