Results 181–200 of 11963 for speaker:Philip Hammond

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: I have explained to the House what happened and what the view is inside Government about the tax locks that we put in place. The hon. Gentleman is entitled to his opinion and he has expressed it.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: My hon. Friend is right. It is a relatively small group, but about 90,000 self-employed people, many of them on very high earnings, benefit enormously from the way the system operates, particularly those who use limited liability partnerships. That is an essential part of the review of this issue in the round that we have to do.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: I think I have made my position quite clear. I have distinguished between the two issues. On the substance of the issue, it is absolutely right to address the discrepancy, which is no longer justified by the difference in access to benefits. However, it is also right that we accept the wider interpretation of the manifesto commitment that my hon. Friends have expressed to me. That is why we...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: I empathise enormously with the self-employed of my hon. Friend’s constituency. He will know that I once lived among them. I sympathise with the point he has raised about public sector employees using personal service companies, but he will know that we have legislated so that, from next April, public sector engagers of people who use personal service companies will be responsible for...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: I have made it clear that there will be no increase in national insurance contributions during the remainder of this Parliament. As I have said, I am not setting out today the Conservative manifesto for the next general election. I am making a commitment for this Parliament, and I hope the House will be satisfied with that.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: Yes. First we will respond to Matthew Taylor’s report, which looks more widely at employment rights in a rapidly changing economy. We will look at parental benefits, which are the principal area where there is still a discrepancy in what is available for the self-employed and the employed. There are other relatively minor areas, but we will look at all of them and seek to, as it were,...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: I am sorry to disappoint the right hon. Gentleman, but he will have to wait 30 years. I am not about to tell him what happened in the Cabinet, but he will know that all decisions are the unanimous decisions of the Cabinet.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: There again, we have a manifesto commitment to spend 0.7% of GDP on overseas aid. That commitment has been legislated for and is therefore locked, unless this House were to decide otherwise.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: Yes, the decision was made by myself and the Prime Minister this morning.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: As you would expect, Mr Speaker, we try, if it is at all possible, to ensure that the House is always informed first of these matters. After my right hon. Friend the Prime Minister and I met this morning, I wrote to the Chairman of the Treasury Committee and placed a copy of that letter in the Library of the House, and I have made this statement at the earliest opportunity available to me.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: Yes; as the hon. Gentleman alluded to, there are specific issues in Northern Ireland, where the public sector still occupies a dominant role in the economy. Of course, we all share the objective of increasing the share of the private sector in the Northern Ireland economy. Small businesses can play an important role in that. The lessons of this review will be generally applicable across the...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: As my hon. Friend will probably know, ideas about merging the tax and national insurance systems have been around for longer than I have. Although it is a superficially attractive proposition, it is fraught with practical difficulties. The Office of Tax Simplification looked at it recently, and I am sure my hon. Friend will have read its report. I say to the House that all matters relating to...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: I set out the basis on which we made the difficult decision to proceed with changes to class 4 national insurance, packaged with the abolition of class 2 national insurance, to try to make the system a little bit fairer. We listened to our hon. Friends and decided to withdraw the proposals, conduct a wide-ranging review and set out to Parliament later in the year how we intend to proceed.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: There is a soft hypothecation around national insurance contributions: 20% of the fund goes to the national health service. They fund the state pension to which self-employed people now have full access for the first time—an extraordinary enhancement in the entitlement. I am told that, for a 45-year-old man, the enhanced pension in retirement, £1,800 or more a year, would cost...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: The hon. Lady might also have remarked that £2 billion was the amount we put into social care funding in the Budget last week, alongside additional capital for the NHS, investment in schools and investment in skills. [Interruption.] Not enough, she says. I understand why she says that, because the shadow Chancellor tells her, “You can borrow for everything you want to do....

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: I am listening carefully to the right hon. Gentleman, but I am not hearing anything worth listening to.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: The self-employed benefit from increased personal allowances, taking 3 million people out of tax altogether and a tax cut for 29 million people. From April this year, the self-employed, like the employed, will have access to tax-free childcare and the additional childcare offer for three and four-year-olds. That is a new extension of the entitlement to the self-employed. As I mentioned, the...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: I explained how we approached this issue. We have a bigger job to do here. The country is embarking on a great venture that will shape the future of this country for many years to come. National insurance class 4 contributions are important, but I suggest they are not the only challenge facing the country today. It is important that we focus on the other issues that are vital to get right.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: As I have said many times today and am very happy to say again, we will always support those who are taking risks to grow and found new businesses. Our job—I take this very seriously and my right hon. Friend the Prime Minister takes it very seriously—is to do what is right for the country. When it becomes apparent that we have to do something because it is the right thing for the...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: It is certainly the case that at the time of the last general election the referendum had not taken place. Indeed, if a Conservative Government had not been elected a referendum would not have taken place. The hon. Gentleman knows and understands that very well. I have explained today how we approached the manifesto commitments, how we delivered them into law and how we have reviewed the way...


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