Results 1–20 of 12310 for speaker:Philip Hammond

Written Ministerial Statements — Treasury: ECOFIN: 6 November 2018 (14 Nov 2018)

Philip Hammond: A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 06 November 2018. The UK was represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council discussed the following: European Free Trade Association (EFTA) dialogue EU Finance Ministers were joined by representatives of the EFTA countries and held an exchange of views on...

Written Ministerial Statements — Treasury: ECOFIN: 6 November 2018 (6 Nov 2018)

Philip Hammond: A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 06 November 2018. The UK will be represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council will discuss the following: European Free Trade Association (EFTA) dialogue EU Finance Ministers will be joined by representatives of the EFTA countries to exchange views on...

Oral Answers to Questions — Treasury: School Funding (6 Nov 2018)

Philip Hammond: More money is going into schools than ever before. Schools will receive over £42 billion of core funding this year and £43.5 billion next year. Our investment in schools is paying off, with 86% of schools now rated good or outstanding compared with 68% in 2010. Schools funding for 2020-21 onwards will be considered along with all areas of non-NHS departmental spending at next...

Oral Answers to Questions — Treasury: School Funding (6 Nov 2018)

Philip Hammond: As the right hon. Gentleman will know, we have launched a significant initiative for the FE sector with the Government’s new T-level programme, which is being rolled out over the next few years. The programme involves a funding commitment of an additional £500 million a year to increase contact time between learners and teachers or work environments by 50%.

Oral Answers to Questions — Treasury: School Funding (6 Nov 2018)

Philip Hammond: Of course. My hon. Friend is absolutely right. They say, don’t they, that no one ever forgets a good teacher. This is about excellence in teaching and in the leadership of our schools, and a well-resourced system led by excellent leaders and staffed by brilliant teachers is the best guarantee of Britain’s bright future.

Oral Answers to Questions — Treasury: School Funding (6 Nov 2018)

Philip Hammond: As the hon. Gentleman will know, the national funding formula is providing every local authority with more money for every pupil in every school.

Oral Answers to Questions — Treasury: School Funding (6 Nov 2018)

Philip Hammond: As my hon. Friend will know, we are putting a record £6 billion into childcare and guaranteeing working parents 30 hours a week of childcare for three and four-year-olds, but I am happy to ask one of my colleagues to meet him. We are always happy to discuss such issues. This aspect of funding, along with all others, can also be considered in the round at the spending review.

Oral Answers to Questions — Treasury: School Funding (6 Nov 2018)

Philip Hammond: What the hon. Gentleman does know, but chooses not to say, is that as a result of the measures announced in the Budget last week, including the huge increase in NHS England funding, Scotland will receive over £2 billion more through the Barnett formula by 2023-24.

Oral Answers to Questions — Treasury: School Funding (6 Nov 2018)

Philip Hammond: My hon. Friend is absolutely right on both counts. He might also be interested in the OECD data, which shows that England is the top spender in the G7 on schools and colleges delivering primary and secondary education, as a percentage of GDP. We spend more on primary and secondary education than Germany, France, Japan and Australia, both as a percentage of GDP and on a per pupil basis.

Oral Answers to Questions — Treasury: Multinational Digital Businesses: Tax (6 Nov 2018)

Philip Hammond: The Government have announced that we will be introducing a digital services tax on the UK revenues of large social media platforms, search engines and online marketplaces. The tax is expected to raise around £1.5 billion over four years, ensuring that digital businesses make a fair contribution to the public finances.

Oral Answers to Questions — Treasury: Multinational Digital Businesses: Tax (6 Nov 2018)

Philip Hammond: I am grateful to my hon. Friend and his constituents for the advice; and, while we are at it, I wish him a happy birthday. The digital services tax aims to improve sustainability and fairness in the tax system. Separately, the Government have announced measures to support small retailers by cutting their business rates by one third for two years. Just to put that in a local context for my...

Oral Answers to Questions — Treasury: Multinational Digital Businesses: Tax (6 Nov 2018)

Philip Hammond: As I said last week, the proposal is to introduce the tax in 2020, but in the meantime we will continue to lead international negotiations on the potential for an internationally agreed tax. Such a tax would in fact be preferable to nationally implemented schemes, but at the moment it is proving very difficult to agree. I hope that, by the time we get to our implementation date in April...

Oral Answers to Questions — Treasury: Support for Businesses and Entrepreneurs (6 Nov 2018)

Philip Hammond: This Government are determined to make the UK a great place to do business, so we are keeping taxes low and helping businesses and entrepreneurs to access the support they need. We have cut corporation tax to the lowest rate in the G20, we have made changes to business rates worth over £13 billion by 2023, we have introduced a £1 million annual investment allowance, and we are...

Oral Answers to Questions — Treasury: Support for Businesses and Entrepreneurs (6 Nov 2018)

Philip Hammond: I am pleased to join my hon. Friend in congratulating the BEST growth hub on its support for Essex businesses. That is a clear example of how England’s 38 growth hubs are helping businesses to start up and grow. Businesses in Essex, like those across England, will benefit from the further measures that I have announced on management training, mentoring and local peer networks, which...

Oral Answers to Questions — Treasury: Support for Businesses and Entrepreneurs (6 Nov 2018)

Philip Hammond: As I have told the House before, the 2016 pension changes were notified to Departments in 2016 in their settlement letters and have been factored into departmental calculations since then. The 2018 increases in public sector pension contributions will be covered in full by the Treasury in 2019-20 and then looked at in the round in the spending review.

Oral Answers to Questions — Treasury: Support for Businesses and Entrepreneurs (6 Nov 2018)

Philip Hammond: The Financial Ombudsman Service can make judgments faster and at a lower cost than a tribunal, and the Government therefore think that that is a better way to go than the creation of a tribunal, but I am happy to meet my hon. Friend to discuss the matter in more detail.

Oral Answers to Questions — Treasury: Support for Businesses and Entrepreneurs (6 Nov 2018)

Philip Hammond: My understanding is that, after negotiations, including negotiations involving the Scottish Government, the Tay cities deal is almost agreed, and we hope to see it signed very shortly. Of course, where there are large-scale redundancies in any area, there are other mechanisms by which we can provide support.

Oral Answers to Questions — Treasury: Support for Businesses and Entrepreneurs (6 Nov 2018)

Philip Hammond: My hon. Friend is absolutely right. As I said in my Budget speech, after considering representations to scrap entrepreneurs’ relief, I reached the conclusion that, unless we support entrepreneurs, we will not have a dynamic and vibrant economy that can support our first-class public services. Those two things go hand in hand.

Oral Answers to Questions — Treasury: Support for Businesses and Entrepreneurs (6 Nov 2018)

Philip Hammond: The hon. Gentleman’s synthetic anger, which I have been enjoying for the best part of 20 years, is always a spectacle worth observing. I thank him for another episode. If he really thinks that businesses look back fondly to the financial crisis, he needs to get out a bit more.


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