Results 181–200 of 11927 for speaker:Philip Hammond

Point of Order (28 Feb 2017)

Philip Hammond: Further to that point of order, Mr Speaker. I did not accuse the hon. Lady of being hysterical; I urged her not to be hysterical. [Interruption.]

Point of Order (28 Feb 2017)

Philip Hammond: If my comments have caused the hon. Lady any offence, I of course withdraw them unreservedly.

Oral Answers to Questions — Treasury: Economic Growth: Yorkshire (28 Feb 2017)

Philip Hammond: The Government will drive productivity and economic growth in Yorkshire by investing in its infrastructure, developing the skills of its people and supporting its companies. At autumn statement we announced that the four local enterprise partnerships covering Yorkshire will receive £156.1 million from the local growth fund to back local priorities and support new jobs, as well as...

Oral Answers to Questions — Treasury: Economic Growth: Yorkshire (28 Feb 2017)

Philip Hammond: Yes. I welcome those investments by large companies, which will bring a large number of jobs to the area. It is also important that we support small and medium-sized enterprises, and the northern powerhouse investment fund will have a specific remit to target and support smaller businesses across the north.

Oral Answers to Questions — Treasury: Economic Growth: Yorkshire (28 Feb 2017)

Philip Hammond: As I have said, we have put additional money into flood defence spending, but—notwithstanding the reopening of the Sheesh Mahal restaurant—I take on board the hon. Lady’s comments about the delay that others are experiencing and I will look at the facts.

Oral Answers to Questions — Treasury: Economic Growth: Yorkshire (28 Feb 2017)

Philip Hammond: Yes, that is two things: it is a major endorsement by a global company and a major vote of confidence in the British economy. It is also a reflection of this Government’s policy that where we place large contracts for military equipment, as we have done with Boeing, we insist on some compensating investment in our economy, so that the investment in our military capability pays for jobs,...

Oral Answers to Questions — Treasury: Economic Growth: Yorkshire (28 Feb 2017)

Philip Hammond: We are very keen on LEPs working together across regions so that these very large pots of devolved funding, including some of the money in the national productivity investment fund that I announced in the autumn statement, can be used to maximum effect across a coherent economic geography. I am not so sure that it is within my power to bring them together, but I would certainly encourage them...

Oral Answers to Questions — Treasury: Economic Growth: Yorkshire (28 Feb 2017)

Philip Hammond: They are perfectly reasonable questions. I am not sure that the Skipton Building Society is holding its breath on how equivalence will work to allow it to carry on marketing complex financial instruments across the European Union. These are matters for negotiation. If we end up with an equivalence regime to allow financial services businesses to continue to trade into the European Union, it...

Oral Answers to Questions — Treasury: Regional Infrastructure Development (28 Feb 2017)

Philip Hammond: We recognise the need to enhance public infrastructure across all regions of the UK. That is why at autumn statement 2016 we committed additional capital to fund new productivity-enhancing economic infrastructure through the national productivity investment fund. We are committed to putting local and regional needs at the heart of the fund. For example, we are spending £1.1 billion on...

Oral Answers to Questions — Treasury: Regional Infrastructure Development (28 Feb 2017)

Philip Hammond: My hon. Friend is right that the midlands is home to some of the world’s leading automotive manufacturing. It is also home to cutting edge battery technology research, including by the Warwick Manufacturing Group at Warwick University. My hon. Friend is absolutely right. If we are going to electrify the vehicle fleet, we have to ensure that clean, sustainable and reliable supplies of...

Oral Answers to Questions — Treasury: Regional Infrastructure Development (28 Feb 2017)

Philip Hammond: As we have made clear, the arrangements we have with the European Union, and with any of the organisations and funds the EU operates, remain to be discussed during the negotiation phase. If the hon. Gentleman is right and we end up not participating in such arrangements in the future, we will clearly have to make separate similar arrangements on a UK-only basis—or, indeed, on an...

Oral Answers to Questions — Treasury: Regional Infrastructure Development (28 Feb 2017)

Philip Hammond: I absolutely agree with my hon. Friend. It is often the smaller local projects that deliver the greatest benefit. They do not have the same kind of grandstanding possibilities around them and therefore are not always quite as favoured, but they are often the most effective way of intervening. They have another benefit: they can often be delivered very quickly by local levels of government,...

Oral Answers to Questions — Treasury: Regional Infrastructure Development (28 Feb 2017)

Philip Hammond: We will continue to invest in our economy, and the distribution of that investment will be in accordance with the Government’s priorities. The hon. Lady should look at the industrial strategy paper that we have published and at statements the Government have made, including on the national productivity investment fund we announced in the autumn. We are committed to infrastructure...

Oral Answers to Questions — Treasury: Regional Infrastructure Development (28 Feb 2017)

Philip Hammond: I will take that as a Budget representation, and yes I do agree with my hon. Friend. We set out in the autumn statement how we would increase investment in infrastructure. That is one of the challenges we face in raising this country’s productivity. Skills is another.

Oral Answers to Questions — Treasury: Regional Infrastructure Development (28 Feb 2017)

Philip Hammond: This discussion is still ongoing. I hope we may bring it to a conclusion within, let’s say, the next eight days.

Oral Answers to Questions — Treasury: Small Businesses (28 Feb 2017)

Philip Hammond: The Government continue to support small businesses to access the finance they need to grow through the British Business Bank, which supports almost £3.4 billion of finance to 54,000 smaller business. In the autumn statement, I announced an additional £400 million of funding for the bank. We also reaffirmed our commitment to the business tax road map, including the permanent...

Oral Answers to Questions — Treasury: Small Businesses (28 Feb 2017)

Philip Hammond: I think the last thing small businesses need is any help from the Labour party. From what I have seen of Labour’s plans, that would be the final straw for most of them. As we have said, we recognise that some small businesses are facing very substantial percentage increases, even where the actual amounts might not be very large, and that that can be difficult for businesses to absorb....

Oral Answers to Questions — Treasury: Small Businesses (28 Feb 2017)

Philip Hammond: The rating system is what it is; it reflects the rental value of properties. I readily acknowledge that in an economy that is changing shape rapidly, where the digital economy plays a much larger role and where some of the biggest businesses are not based on bricks and mortar, there are some very significant challenges for us, which we need to look at. In the short and medium term, business...

Oral Answers to Questions — Treasury: Small Businesses (28 Feb 2017)

Philip Hammond: I will say something more about the medium and longer-term challenges to business rates when I deliver my Budget next week. The hon. Lady would not want to alarm anybody in her constituency and she will know that nobody will see their rates bill go up by 600%.


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