Results 41–60 of 12241 for speaker:Philip Hammond

Oral Answers to Questions — Treasury: Support for Businesses and Entrepreneurs (22 May 2018)

Philip Hammond: I do not know whether that was an announcement of a change in Labour party policy. My understanding is that the Labour party’s position is to increase corporate tax rates for small businesses. Perhaps the hon. Gentleman will tell us whether he has changed his position. On the question of our future customs arrangements with the European Union, the hon. Gentleman will know that I have...

Oral Answers to Questions — Treasury: Support for Businesses and Entrepreneurs (22 May 2018)

Philip Hammond: I have already answered the hon. Gentleman’s questions about my meeting with Mr Cameron last October. In a meeting that ranged across a number of issues, Mr Cameron was good enough to inform me of his intention to take up this role with a fund promoting investment both in China and the UK. The Government support all initiatives that improve trade and investment between the UK and China.

Oral Answers to Questions — Treasury: New Technologies (22 May 2018)

Philip Hammond: The Government are committed to helping firms to harness the benefits of new technologies, and we are taking action to do so. For example, we have set the annual investment allowance at £200,000 a year, its highest-ever permanent level; we have announced a 10-year action plan to unlock more than £20 billion to finance growth in innovative firms; and we have delivered the biggest...

Oral Answers to Questions — Treasury: New Technologies (22 May 2018)

Philip Hammond: Yes. I congratulate my hon. Friend on his commitment in this regard, especially in his role as chairman of the all-party parliamentary group on the fourth industrial revolution. Science, research and innovation are areas in which the UK has huge strengths. Our challenge is to provide the right environment—including the right tax environment—to ensure that that potential stays in...

Oral Answers to Questions — Treasury: New Technologies (22 May 2018)

Philip Hammond: We have a globally competitive offer for businesses seeking to locate in the United Kingdom, and, of course, Northern Ireland will have corporation tax flexibilities of its own in due course. However, we seek to make all parts of the UK attractive to foreign direct investment, and Northern Ireland has done extremely well from that.

Oral Answers to Questions — Treasury: New Technologies (22 May 2018)

Philip Hammond: This is partly about public investment and partly about private investment to encourage the roll-out of full-fibre broadband technologies and give companies access to the funds that they need to make investments and take advantage of the public infrastructure. We will make further announcements about our forward broadband strategy during the summer.

Oral Answers to Questions — Treasury: New Technologies (22 May 2018)

Philip Hammond: Once we have left the European Union the money that was reaching the UK from EU sources will be allocated to the UK shared prosperity fund, and over the course of this year we will consult on both the distribution and the application of those funds and the size that that fund should be.

Oral Answers to Questions — Treasury: Economic Growth (22 May 2018)

Philip Hammond: The best way to drive economic growth is to raise our productivity growth rate. That is why since 2010 the Government have overseen over half a trillion pounds in capital investment including in the national productivity investment fund, have increased investment in skills and have reduced taxes for business, and I tell my hon. Friend that the way not to support economic growth is through...

Oral Answers to Questions — Treasury: Economic Growth (22 May 2018)

Philip Hammond: Since 2010 the shadow Chancellor has predicted that the UK would go into recession on no fewer than eight separate occasions—that is eight out of zero. But the UK economy is growing steadily and is now 10.7% bigger than its pre-crisis level, and the Office for Budget Responsibility expects it to continue to grow in each year of its forecast to 2022. While we know that the shadow...

Oral Answers to Questions — Treasury: Economic Growth (22 May 2018)

Philip Hammond: The Government’s view is that a unified rate of VAT across the United Kingdom is an important part of our single market of the United Kingdom, which is an essential economic good for the whole of this country.

Oral Answers to Questions — Treasury: Economic Growth (22 May 2018)

Philip Hammond: We absolutely look forward to being able to make progress on the Moray growth deal, and I am very happy to meet my hon. Friend. I know that the Exchequer Secretary, who is dealing with this matter, would also be pleased to meet him.

Oral Answers to Questions — Treasury: Economic Growth (22 May 2018)

Philip Hammond: As the hon. Gentleman knows, I firmly believe that the service that will be provided on the route from London to Swansea will deliver exactly what passengers have bargained to get, without the need for the disruption and cost of overhead electrification. We will look at the funding needs of all parts of the United Kingdom appropriately, to support economic growth and to reduce regional...

Oral Answers to Questions — Treasury: Economic Growth (22 May 2018)

Philip Hammond: Precisely, Mr Speaker. It is the economic growth generation potential of housing development that we will take into account when evaluating transport proposals. In relation to the specific project to which my hon. Friend refers, the Exchequer Secretary advises me that the Department for Transport is eagerly awaiting a business plan for the project from the relevant local authority.

Oral Answers to Questions — Treasury: Economic Growth (22 May 2018)

Philip Hammond: The Government will look carefully at proposals from Yorkshire leaders for a devolution settlement, provided that it does not undermine the existing South Yorkshire-Sheffield city region devolution settlement that has already been established, with a Mayor already elected.

Oral Answers to Questions — Treasury: Economic Growth (22 May 2018)

Philip Hammond: As my hon. Friend will know, the Chief Secretary to the Treasury has a great interest in that proposal. Without even needing to consult her, I can say without hesitation that she will be delighted to meet him and his colleagues.

Oral Answers to Questions — Treasury: Topical Questions (22 May 2018)

Philip Hammond: My principal responsibility is to ensure economic stability and the continued prosperity of the British people, and I will do so by building on the plans set out in the autumn Budget and the spring statement. The Government’s balanced approach to the public finances enables us to give households, businesses and our public services targeted support in the near term, and to invest in...

Oral Answers to Questions — Treasury: Topical Questions (22 May 2018)

Philip Hammond: On the publication of Government analysis, I have made it clear on several occasions that once Parliament is being asked to vote on a proposal—on a package—it will be appropriate for the Government to publish the analysis that they have, to make sure that that debate is as informed as possible. The future trajectory of household incomes will depend, in part, on the quality of the...

Oral Answers to Questions — Treasury: Topical Questions (22 May 2018)

Philip Hammond: The hon. Lady focuses rightly on output per hour. The problem is a productivity gap between the regions of the UK and the most prosperous areas of London. We have to close that productivity gap. That is in the interest of not only those individual regions, but our overall national economy. We will do so by investing in public infrastructure and in skills, and by ensuring that the conditions...

Oral Answers to Questions — Treasury: Topical Questions (22 May 2018)

Philip Hammond: A pilot railcard for that age group was launched as a trial, and was fully subscribed very quickly. The Department for Transport will be announcing in due course when the continuation of the scheme will take place.


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