Results 61–80 of 3955 for (in the 'Commons debates' OR in the 'Westminster Hall debates' OR in the 'Lords debates' OR in the 'Northern Ireland Assembly debates') speaker:Matthew Hancock

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: I am grateful for the opportunity to pay tribute to the then Chancellor, who expressed his gratitude to the then Opposition Conservative party for the support it gave him during September 2008. That is often forgotten on the Labour Benches. On the evidence, one of the central questions to which we return time and again in this debate is whether there is a contradiction between dealing with...

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: Unfortunately, those from whom the previous Government had borrowed so much did not see a credible plan from the Labour party. That is why we have had to introduce the emergency Budget, so that we could put that credible plan in place. Since the election, there have been downgrades in the debt of many of our competitors, so it is critical that we have managed to put that triple A rating on a...

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: My hon. Friend is getting a reputation for making extremely good interventions, and that was one of them. Fiscal consolidation also means that interest rates can be held lower for longer by the independent Bank of England, which is a second important channel through which economic growth can be supported, and not opposed, by fiscal consolidation.

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: Of course, the bond market could see a Conservative-or coalition-Government coming, and that is exactly what happened. I will say this to the right hon. Gentleman: when there is a flight to safety, I would rather it was to British bonds, not to bonds overseas, which is what could easily happen if we did not have a credible policy.

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: I am always delighted to talk about when the previous Labour Government lost office, so I thank my hon. Friend for that intervention. Let me go through a few more elements of the economic evidence. I have here an extremely good literature review, by Policy Exchange, the think-tank, which lists-

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: What Policy Exchange has done is review the economic literature, which is what I am looking at. Perotti, in 1999, said: "High debt levels are associated with higher probability for fiscal policy to have" expansionary effects. The European Commission-not something that Labour Members tend to barrack-said: "Expenditure cuts may exhibit" expansionary features, "even in the short and medium run."...

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: The reductions in corporation tax that are outlined in this Bill have been welcomed by the CBI, the British Chambers of Commerce, the Institute of Directors and the Federation of Small Businesses. Indeed, a multitude of business organisations have welcomed it. Even the Engineering Employers Federation said that this was a path in the right direction. That shows the support from business...

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: Let me make some progress; I have only a couple of minutes left. The final argument is about productivity. Greater tax competitiveness not only helps productivity in the private sector, as consolidation can also help productivity in the public sector. We read only this morning that the police have said that they can take 12% out of their budget without affecting front-line services. I wonder...

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: My hon. Friend is probably right.

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: I am going to conclude. So this is my argument: fiscal responsibility is not contradictory to growth; it is absolutely central to sustainable growth in our country. The Budget is unavoidable, but it also lays the platform for confidence and for support of the businesses that are going to grow us out of this hole. Everybody knows that if one is in debt, the sooner it is dealt with, the better;...

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: Will the hon. Lady give way to an intervention on the increase in tax credit?

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: rose-

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: rose-

Consolidated Fund (Apppropriation) Bill: Finance Bill (20 Jul 2010)

Matthew Hancock: On a point of order, Mr Deputy Speaker. I am new to the House. Could you possibly advise me whether it is appropriate for a Member to make an entire speech having stated in advance that he or she will take no interventions whatever?

Hospital Car Parking Charges (Hereford) (26 Jul 2010)

Matthew Hancock: Before my hon. Friend concludes, will he address the point about renegotiating the PFI? Will he take up the offer of my hon. Friend the Member for Hereford and South Herefordshire (Jesse Norman) and try to squeeze some more value out of the PFI, and to help? He has made an eloquent case about how tight the money is.

[Hywel Williams in the Chair] — A11 (Dualling) (27 Jul 2010)

Matthew Hancock: It is a great pleasure to speak under your chairmanship for the first time, in my first speech in a Westminster Hall debate, Mr Williams. I am delighted to have been granted this debate on the economic impact of dualling the A11, and am grateful to the Minister for giving his time. I am also grateful for the cross-party attendance by the many colleagues from all over Norfolk and Suffolk who...

[Hywel Williams in the Chair] — A11 (Dualling) (27 Jul 2010)

Matthew Hancock: Does my hon. Friend agree with the Minister's boss, the Secretary of State for Transport, that there are powerful economic benefits to removing the bottleneck?

[Hywel Williams in the Chair] — A11 (Dualling) (27 Jul 2010)

Matthew Hancock: Does the hon. Gentleman agree that not only do businesses in Norfolk lose out as a result of that bottleneck, but many businesses at the other end in Suffolk, which would dearly love to work with the great businesses he has mentioned and the great scientists other Members have mentioned, lose out because the bottleneck splits those two areas?

[Hywel Williams in the Chair] — A11 (Dualling) (27 Jul 2010)

Matthew Hancock: I am grateful that the hon. Gentleman accepts that the Government of whom he was a part failed to invest in infrastructure enough. It is good of him to admit that. Therefore, does he agree that not reducing capital spending in the Budget was the correct decision? Given his citation of the economic literature, does he commend that decision by the Chancellor?

[Hywel Williams in the Chair] — A11 (Dualling) (27 Jul 2010)

Matthew Hancock: On behalf of my colleagues, may I say that we are extremely grateful for the Minister's thoughtful and direct response? Is he able to publish, or point us to published evidence of, the BCRs for the other projects that are in the pipeline?


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