Results 1–20 of 12387 for speaker:Philip Hammond

Oral Answers to Questions — Treasury: Support for the High Street (11 Dec 2018)

Philip Hammond: Budget 2018 announced our plan for the high street, which provides £1.5 billion of support to fund local areas as they make their high streets fit for the future. The plan includes a £675 million future high streets fund, planning reforms, a high streets taskforce, support for community assets and a cut by a third to the business rates bills of independent retailers for two years from April...

Oral Answers to Questions — Treasury: Support for the High Street (11 Dec 2018)

Philip Hammond: My hon. Friend makes a point that has been raised on many occasions. There is concern about the way the business rates system works. In 2016, we conducted a fundamental review of business rates that agreed that property-based taxes were easy to collect, difficult to avoid and stable. There was no consensus around any replacement for business rates. My hon. Friend will know that separately the...

Oral Answers to Questions — Treasury: Support for the High Street (11 Dec 2018)

Philip Hammond: Yes, I am happy to join my hon. Friend in congratulating Barnstaple on the success of its high street. Of course, there are many successful high streets throughout the United Kingdom, even at a time when the high street overall is under pressure. I am sure my hon. Friend is aware that Devon’s success does not stop at the high street; it has seen a wider economic achievement, with...

Oral Answers to Questions — Treasury: Support for the High Street (11 Dec 2018)

Philip Hammond: The answer, of course, is to ensure that we leave the European Union in a way that supports our economy across the United Kingdom. That means a negotiated deal that allows us to have a smooth exit and retain a close trading partnership with our European neighbours in the future.

Oral Answers to Questions — Treasury: Support for the High Street (11 Dec 2018)

Philip Hammond: I am not sure whether the hon. Gentleman was in his place for the Budget, but I did in fact announce a digital services tax based on turnover. I also announced a reduction of one third in the business rates for independent retailers. I am very happy to have a meeting with him and explain the changes in detail.

Oral Answers to Questions — Treasury: Support for the High Street (11 Dec 2018)

Philip Hammond: If my right hon. Friend is asking whether there is anything that local authorities can do to help with the cash-flow challenges of seasonally based businesses, I am very happy to take that away and look at it and see whether there is anything that we can do to help in that way. The challenge, of course, is that business rates raise £25 billion a year and are a vital part of our overall tax...

Oral Answers to Questions — Treasury: Support for the High Street (11 Dec 2018)

Philip Hammond: There are a couple of points there. First, I should just say to the hon. Gentleman that I was actually congratulating him the other day on his display of synthetic anger, which is one of the best in the House. On the wider point, the high street is facing challenges because of the uptake of online retailing across the UK at a faster rate than in any other large economy. That means that our...

Oral Answers to Questions — Treasury: Support for the High Street (11 Dec 2018)

Philip Hammond: I would be very happy to meet my hon. Friend. My hon. Friend the Exchequer Secretary is the expert on this matter and he might find a meeting with him more fruitful, but either one of us is very happy to meet him.

Oral Answers to Questions — Treasury: Support for the High Street (11 Dec 2018)

Philip Hammond: I would be the first to agree that businesses need an end to uncertainty and clarity about the future, but frankly I think that the shadow Chancellor is probably the last person who should give us that lecture, because his policy agenda has been designed to create uncertainty and a lack of clarity for business in the future. What the Prime Minister is doing—absolutely rightly—is making a...

Oral Answers to Questions — Treasury: Support for the High Street (11 Dec 2018)

Philip Hammond: The right hon. Gentleman can practise his synthetic concern at the Dispatch Box, but the remedy lies in his hands. There is a deal on the table that will end the uncertainty and allow this country to move on, and our polling shows that that is exactly what the British people want. All he has to do is get behind it, vote for the Prime Minister’s deal and we can all move on.

Oral Answers to Questions — Treasury: Major Infrastructure Projects: Funding (11 Dec 2018)

Philip Hammond: All public spending proposals, including those for major infrastructure projects, are appraised against five key considerations: the strategic case for change, the net value to society of the intervention, the affordability of the proposal, the robustness of delivery plans, and whether a realistic commercial deal can be struck to deliver the proposal. As I announced in the Budget, there will...

Oral Answers to Questions — Treasury: Major Infrastructure Projects: Funding (11 Dec 2018)

Philip Hammond: First, I acknowledge my right hon. Friend’s tireless work in campaigning to improve infrastructure and boost productivity in the Essex region, including her chairing of the Great Eastern Mainline Taskforce. We expect about £47.9 billion to be spent on the railway nationally between 2019 and 2024. I very much look forward to hearing the outcome of the Great Eastern Mainline Taskforce study....

Oral Answers to Questions — Treasury: Major Infrastructure Projects: Funding (11 Dec 2018)

Philip Hammond: We have had this one before. The Institute for Public Policy Research consistently publishes these figures and they are consistently wrong. I would urge the hon. Lady to look at the Infrastructure and Projects Authority’s figure. The problem with the IPPR is that it needs also to look at central Government funding to the regions. When we look at central Government funding to the regions, we...

Oral Answers to Questions — Treasury: Major Infrastructure Projects: Funding (11 Dec 2018)

Philip Hammond: We are doing two things. First, we are investing more public capital than ever before under the previous Labour Government, but we have also put in place the National Infrastructure Commission to develop a transparent pipeline of projects both publicly and privately funded so that investors in infrastructure projects can have that visibility of future projects available.

Oral Answers to Questions — Treasury: Major Infrastructure Projects: Funding (11 Dec 2018)

Philip Hammond: I reject the hon. Gentleman’s accusation. The methodologies we use are designed to be fair and equitable in the distribution of infrastructure funding, but if he would like to meet me and my hon. Friend the Exchequer Secretary, I am happy to go through the whole issue. We are as concerned as he is to make sure that infrastructure investment decisions are made on a transparent and equitable...

Oral Answers to Questions — Treasury: Income Tax (11 Dec 2018)

Philip Hammond: The Government are committed to ensuring that working people can keep more of what they earn. At Budget 2018, I announced that the Government will increase the personal allowance to £12,500 and the higher rate threshold to £50,000 from April 2019, delivering on our manifesto promise one year early. This is a tax cut for 32 million people that will save a typical basic rate taxpayer a...

Oral Answers to Questions — Treasury: Income Tax (11 Dec 2018)

Philip Hammond: The Government do consider national insurance contributions and income tax together to ensure an overall progressive tax system in which those earning the most pay the most. However, when we are looking at national insurance thresholds, it is important for us to remember that national insurance payments provide access to social security benefits: they build individuals’ entitlements to...

Oral Answers to Questions — Treasury: Income Tax (11 Dec 2018)

Philip Hammond: I hear the hon. Gentleman’s point, but I repeat what I have just said. We have to remember that people coming into national insurance at a lower rate also means people coming into entitlement to contributory benefits at that rate. We have a contributory principle in our benefits system, and national insurance is the key to it.

Oral Answers to Questions — Treasury: Income Tax (11 Dec 2018)

Philip Hammond: When I was in Brussels the other day, I was reliably informed that the kingdom of Belgium was originally intended to be a temporary construct, but it still seems to be with us. The world has moved on since the Napoleonic wars, as my hon. Friend may or may not celebrate, and I have to tell him that the Government have no plans to abolish income tax.

Oral Answers to Questions — Treasury: Income Tax (11 Dec 2018)

Philip Hammond: My understanding is that my right hon. Friend the Secretary of State for Defence has put in place special measures to ensure that those members of the armed forces who are disadvantaged by Scotland’s higher income tax rates are compensated, in order to avoid a situation where they regard postings to Scotland as hardship postings.


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