Results 41–60 of 12413 for speaker:Philip Hammond

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.

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

Philip Hammond: My principal responsibility is to ensure economic stability and the continued prosperity of the British people, and at this juncture the best way to achieve this objective is to back the Prime Minister’s Brexit deal, ensuring a smooth and orderly departure from the EU, delivering on the decision of the British people, securing a close economic partnership with our most important trading...

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

Philip Hammond: It is not the Government’s policy to maintain a permanent customs union with the European Union. Opposition Front Benchers often offer a customs union as if it were a magical solution, but it will not deliver us frictionless borders; it will introduce regulatory friction at our borders with the European Union, and it will introduce regulatory friction between Northern Ireland and the...

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

Philip Hammond: Those powers are there specifically to deal with the customs union that we will need to create with the Crown dependencies, not for the purpose that the hon. Gentleman is suggesting.

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

Philip Hammond: I am very confident that my right hon. Friend the Prime Minister will succeed in the mission that she is undertaking today, and I look forward to her reporting to the House on the progress that she has made.

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

Philip Hammond: I think I have been perfectly clear and consistent in expressing the view that no deal would be a very bad outcome for this country, and I will do everything I can to make sure that that is not an outcome we face. A White Paper on the Government’s future migration policy will be published shortly.

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

Philip Hammond: First, I should make it clear that the additional support we are providing to Crossrail is in the form of a loan that will be repaid to the Government by London, so it is London taxpayers and London farepayers who will meet the cost of the overrun. The north-west is now the second-highest region in the UK for transport investment: per capita investment has risen from £648 per year between...

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

Philip Hammond: The Treasury will look closely at that.

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

Philip Hammond: We have made it clear that we will first prioritise the security of the UK, and that we will then prioritise the flow of trade. We will not prioritise the collection of customs tariffs. The hon. Lady will be aware that these are tariffs that we are not currently collecting; they would be additional revenues. We will treat that as something that we can do in slower time, if the situation arises.

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

Philip Hammond: That is certainly one of the levers that we can pull, and I am happy to look again at how we support home energy efficiency.

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

Philip Hammond: Our university sector is a vital asset to the UK. Over the past decade we have seen the universities working much more closely with industry, and that relationship is having a positive and advantageous effect on the growth profile and the technology uptake in the economy. As we leave the European Union, it is vital that our universities are able to go on exchanging students and teaching staff...

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

Philip Hammond: A very large number. I will go back to the Treasury and write to my hon. Friend with a precise figure.

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

Philip Hammond: Yes. There cannot be strong defence without a strong economy.

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

Philip Hammond: Yes, and that is indeed the express view of the vast majority of businesses in this country.


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