Results 1–20 of 12177 for speaker:Philip Hammond

Written Ministerial Statements — Treasury: ECOFIN: 27-28 April 2018 (8 May 2018)

Philip Hammond: An informal meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Sofia on 27-28 April 2018. The Council discussed the following: Working Lunch - Deepening of the Economic and Monetary Union Based on a Presidency Issues note, the Council exchanged views on the ECOFIN Council Roadmap of June 2016 on completing the Banking Union. This was followed by an update from the...

Written Ministerial Statements — Treasury: ECOFIN: 27-28 April 2018 (27 Apr 2018)

Philip Hammond: An informal meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Sofia on 27-28 April 2018. The Council will discuss the following: Working Lunch - Deepening of the Economic and Monetary Union Based on a Presidency Issues note, the Council will exchange views on the ECOFIN Council Roadmap of June 2016 on completing the Banking Union. This will be followed by an...

Previous Business – Commons: Select Committee (25 Apr 2018)

Treasury: The Work of the Chancellor of the Exchequer. 4:00 pm; The Wilson Room, Portcullis House
Witnesses: The Rt Hon Philip Hammond MP, Chancellor of the Exchequer, HM Treasury Sir Tom Scholar, Permanent Secretary to the Treasury

Oral Answers to Questions — Treasury: Tax Avoidance and Evasion (17 Apr 2018)

Philip Hammond: Since 2010, Her Majesty’s Revenue and Customs has secured more than £175 billion that would have gone unpaid and introduced more than 100 new measures to crack down on tax avoidance, tax evasion and other forms of non-compliance, so that the tax gap is now at a record low, and one of the lowest in the world, at 6%.

Oral Answers to Questions — Treasury: Tax Avoidance and Evasion (17 Apr 2018)

Philip Hammond: I am grateful to my hon. Friend for raising this issue. It is a great achievement to have got the tax gap down to one of the lowest in the world, but we are not complacent. We are currently calling for evidence on whether online platforms should play a greater role in ensuring tax compliance by their users; we are consulting on an innovative split payment method to tackle online VAT fraud;...

Oral Answers to Questions — Treasury: Tax Avoidance and Evasion (17 Apr 2018)

Philip Hammond: As my hon. Friend will know, the UK was one of the first countries to implement the OECD model for country-by-country reporting to tax authorities. Those reports have been required for periods that started on or after 1 January 2016. On public reporting, the Government are committed to a multilateral approach to ensure that reporting provides comprehensive information and is fair between...

Oral Answers to Questions — Treasury: Tax Avoidance and Evasion (17 Apr 2018)

Philip Hammond: I would not call it a French model; it is a Franco-German initiative. We have been working closely with the French and the Germans on this issue. We discussed it at the G20 in Buenos Aires a couple of weeks ago and we will discuss it again at the informal ECOFIN meeting in Sofia at the end of next week. The Government’s position is that we are supportive of the EU proposals, but we want...

Oral Answers to Questions — Treasury: Tax Avoidance and Evasion (17 Apr 2018)

Philip Hammond: My right hon. Friend the Financial Secretary to the Treasury tells me that he agreed to meet the hon. Gentleman but has not heard from him to arrange a meeting. Let me reiterate on my right hon. Friend’s behalf that he would be happy to meet the hon. Gentleman to discuss this case.

Oral Answers to Questions — Treasury: Tax Avoidance and Evasion (17 Apr 2018)

Philip Hammond: Thank you for your very carefully tailored piece of demand stimulation, Mr Speaker. It was much appreciated for the economy of the Chamber. My hon. Friend is right. As I have already said, working with the EU on this interim proposal for a turnover-based tax is, we believe, the right thing to do. We have, of course, also introduced an interim measure of our own, seeking to tax licence fees...

Oral Answers to Questions — Treasury: Tax Avoidance and Evasion (17 Apr 2018)

Philip Hammond: The hon. Lady asks a specific and detailed question about Scottish Limited Partnerships. The legislation is designed to deter the kind of activity to which she refers. The absence of fines should not be taken as an indication of an absence of activity. As she will know, Her Majesty’s Revenue and Customs always seeks, first of all, to deter non-compliant behaviour before it moves into...

Oral Answers to Questions — Treasury: Tax Avoidance and Evasion (17 Apr 2018)

Philip Hammond: What I can commit to the House is this: wherever HMRC detects non-compliant behaviour, it will act, but it is for HMRC to determine how best to act in individual cases, and it is right that Ministers do not have direct involvement in HMRC pursuing individual cases. I will write to the Opposition spokesman, the hon. Member for Oxford East (Anneliese Dodds), and I am sure that the hon. Member...

Oral Answers to Questions — Treasury: Tax Avoidance and Evasion (17 Apr 2018)

Philip Hammond: I will ensure that the hon. Lady gets the letter as soon as possible. It is right to focus on groups that are using structures for non-compliance or purposes that we would wish to deter, and HMRC will always do so. I will update her by letter, hopefully later today.

Oral Answers to Questions — Treasury: Productivity (17 Apr 2018)

Philip Hammond: My hon. Friend is asking the right question. The only way to deliver a high-wage, high-skill economy of the future and to sustainably raise living standards is to raise our productivity growth rate. This requires investment by the Government in infrastructure, skills, and research and development. Since 2010, this Government have provided over half a trillion pounds in capital investment,...

Oral Answers to Questions — Treasury: Productivity (17 Apr 2018)

Philip Hammond: My hon. Friend is right again. We will only build an economy that works for everyone and every region if we succeed in narrowing the regional productivity gap. For that reason, the Government are fully committed to the northern powerhouse. We have announced a funding boost of £436 million to improve transport connections within the northern city regions through the transforming cities...

Oral Answers to Questions — Treasury: Productivity (17 Apr 2018)

Philip Hammond: As the hon. Gentleman knows, the tidal lagoon project is under careful consideration by the Government, and a decision will be made and announced in due course.

Oral Answers to Questions — Treasury: Productivity (17 Apr 2018)

Philip Hammond: I am happy to tell my right hon. Friend that we have had a very productive first meeting with the CBI and the Trades Union Congress to flesh out the shape of the national retraining partnership, which is clearly going to be a crucial part of our investment in skills in future. I do take her point on childcare. We have of course seen the Select Committee’s report and will respond to it...

Oral Answers to Questions — Treasury: Productivity (17 Apr 2018)

Philip Hammond: We have a challenge in this country around productivity, and it is not a new challenge, as the hon. Gentleman well knows. For eight years, the OBR has estimated UK productivity growth, and on eight occasions it has had to revise down the estimates that it had made. This is a long-term challenge facing this country. Rather than trading insults about what has happened in the past, I suggest...

Oral Answers to Questions — Treasury: Productivity (17 Apr 2018)

Philip Hammond: Productivity, as I have already said, is at the very forefront of the Government’s agenda. That is why we established the national productivity investment fund, a £31 billion package of investment in infrastructure and research and development, and committed to introducing a national retraining scheme, which we are developing in partnership with the CBI and the TUC to ensure that...

Oral Answers to Questions — Treasury: Productivity (17 Apr 2018)

Philip Hammond: My right hon. Friend is right that there is some evidence of a measurement challenge around the productivity figures. My right hon. Friend the Member for New Forest West (Sir Desmond Swayne) asked a few moments ago about the relationship between rising wage costs and continued economic and employment growth. The question is why the tightening labour market is not driving a higher...

Oral Answers to Questions — Treasury: Productivity (17 Apr 2018)

Philip Hammond: We are undertaking the largest rail investment programme since Victorian times and the largest road investment programme since the 1970s. Overall, the Government are now investing public capital at the highest rate for 40 years. This is one of the components that drives productivity in one of the areas where we have a long-standing gap with our principal competitors: too little public...


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