Results 41–60 of 12036 for speaker:Philip Hammond

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: I am not sure whether the hon. Gentleman was listening to the answer that I gave to the hon. Member for Ilford North (Wes Streeting) a few moments ago. We have ended the blanket pay cap across the public sector and are allowing Secretaries of State to make recommendations to the pay review bodies that reflect the circumstances of their individual workforces.

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: My hon. Friend is exactly right. The uncomfortable fact for the Opposition Front Benchers is that income inequality in this country is now the lowest it has been since the mid-1980s—lower than it was at any point during the 13 years of the Labour Government.

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: Yes, and it is one of this Government’s proudest achievements that we have created 3 million new jobs in this country since 2010. The right hon. Member for Hayes and Harlington (John McDonnell) might reflect on his prediction in 2011 that the Government’s policies would cost the economy 1 million jobs. That turned out to be slightly wide of the mark.

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: It is a priority of the Government to continue to close the gender pay gap, which is now at its lowest level ever.

Oral Answers to Questions — Treasury: Low-paid Workers: Wage Growth (28 Nov 2017)

Philip Hammond: As the hon. Gentleman will know, in the end wages can only be paid for by the productive output of workers. Increasing the productivity of workers in the British economy, so that they can produce more and earn more in a way that allows their firms to remain competitive while paying them more, is the way forward, and that is what the Government will pursue.

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: The Government recognise the importance of closing the economic gap between regions of our country as an economic and social priority, and the industrial strategy is focused on doing that. If we eliminated just half of the productivity gap with London, we would add £300 billion to our gross domestic product; that is £4,600 for every man, woman and child in this country. That is why...

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: The Government are committed to the Sheffield city region deal, which will bring £1 billion of new Government investment to the area. We recognise the debate that is going on about a possible wider Yorkshire-based deal and we are happy to consider that, if it can be done in a way that does not disrupt the existing deal that has been agreed for the Sheffield city region.

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: We know some of the things that drive our low productivity performance. Regional differences are one of them, and others are low levels of capital investment in private businesses, relatively low levels of public infrastructure investment and poor skills. We set out in the Budget a raft of measures that will address all of them. The end result is that this Government, on average, over this...

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: My hon. Friend has been consistent in arguing the case for the promotion of self-build and custom house building, which has an important role to play in our ambition of delivering 300,000 new net additional homes a year by the middle of the next decade.

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: I am absolutely happy to agree with my hon. Friend. The North sea as a basin is coming towards the end of its life, but none the less there are many billions of barrels of oil to be exploited there, involving very large amounts of economic activity in the region and potentially significant receipts to the Treasury. The measure that we have taken will stimulate economic growth in the region...

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: I heard what the hon. Lady said, and my hon. Friend the Member for Harrogate and Knaresborough (Andrew Jones) tells me that he is meeting the Mayor of Manchester next week to discuss this issue.

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: It is. GCHQ is a world-class resource. The way it has engaged in seeking to use its expertise to create a world-class cyber-security business sector in the UK economy is exemplary, and we should encourage it.

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: I do not like to blow my own trumpet, but on the whole I think my jokes were better than the hon. Gentleman’s. As I said to the hon. Member for Barnsley Central (Dan Jarvis), the Sheffield city region deal would bring £1 billion of new Government investment into the area, which will stimulate local economic growth and job creation, and support upskilling in the area and...

Oral Answers to Questions — Treasury: Regional Economic Growth (28 Nov 2017)

Philip Hammond: There are many things in which we can invest in every region of the country, and I am pretty confident that I could take £1 billion to any region of the UK and invest it in a way that would enhance productivity and stimulate economic growth.

Oral Answers to Questions — Treasury: Major Infrastructure Projects (28 Nov 2017)

Philip Hammond: We are expanding the national productivity investment fund to provide £31 billion of investment. That includes a £1.7 billion transport fund to transform our great cities and a more than doubling of the housing infrastructure fund to £5 billion. We have published the “National Infrastructure and Construction Pipeline” and are delivering the largest rail...

Oral Answers to Questions — Treasury: Major Infrastructure Projects (28 Nov 2017)

Philip Hammond: I agree with my hon. and learned Friend. The Cambridge-Milton Keynes-Oxford corridor has the potential to be a globally significant growth corridor, and I agree with the National Infrastructure Commission that to realise this potential we need a joined-up plan that covers jobs, homes and infrastructure. Local and national Government must work together, with developers and investors, to align...

Oral Answers to Questions — Treasury: Major Infrastructure Projects (28 Nov 2017)

Philip Hammond: Yes, we have committed to investing over £2 billion in the strategic road network in the south-west, including the first steps towards transforming the A303-A358 route and upgrading sections of the A30. Safety is one of the Government’s top priorities, and improvements to strategic roads with safety concerns, such as the A38, will be considered for inclusion within the portfolio of...

Oral Answers to Questions — Treasury: Major Infrastructure Projects (28 Nov 2017)

Philip Hammond: I am certainly happy to look at the information we hold and whether it could be presented in a way that satisfies the hon. Gentleman’s requirements. It is a legitimate question. Much of this infrastructure investment will have an impact across the country. For example, investment in HS2 will benefit parts of the north of England far more than many of the areas through which the railway...

Oral Answers to Questions — Treasury: Major Infrastructure Projects (28 Nov 2017)

Philip Hammond: As I understand it—I will correct myself if I am wrong—the allocation to Scotland in Network Rail’s control period 6 investment programme is exactly proportionate to the overall England, Wales and Scotland budget.

Oral Answers to Questions — Treasury: Major Infrastructure Projects (28 Nov 2017)

Philip Hammond: Yes, we do have plans, of course, for investment in the region, including the lower Thames crossing project, but I recognise the challenge that my hon. Friend presents. If there is to be a significant expansion of housing in the region, it is essential that the strategic infrastructure be put in place, and it will be essential that we capture uplifted land value in order to finance it. My...


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