Results 61–80 of 12036 for speaker:Philip Hammond

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

Philip Hammond: The hon. Gentleman says the Government have reneged on a promise to electrify the railway. What passengers care about is the quality of service, the frequency of service, the reliability of service and the speed of the service, and train technology has moved on, such that all those requirements can be met with the new hybrid trains being deployed on that network.

Oral Answers to Questions — Treasury: Topical Questions (28 Nov 2017)

Philip Hammond: The Budget laid out the Government’s vision for a global Britain after we leave the European Union, and our ambitious plans to tackle the long-term challenges that we face so that we can build an economy that is fit for the future. Our balanced approach enables us to give households and businesses the support that they will need in the near term, as well as investing in the future of...

Oral Answers to Questions — Treasury: Topical Questions (28 Nov 2017)

Philip Hammond: As I have already told the House today, as a result of the increase that we announced in the Budget, somebody on the national living wage will be £2,000 a year better off than when it was introduced in 2016. That is before tax. If we take into account the effect of the significant increase in the personal allowance threshold, which has reduced tax for 30 million people and taken 4...

Oral Answers to Questions — Treasury: Topical Questions (28 Nov 2017)

Philip Hammond: The right hon. Gentleman is wrong: it is not without precedent. We did not move an amendment of the law resolution in relation to the Finance Bill that has just gone through Parliament. It is a small but worthwhile modernisation measure that focuses the debate on the measures that we are putting before Parliament in the Finance Bill.

Oral Answers to Questions — Treasury: Topical Questions (28 Nov 2017)

Philip Hammond: There will be more than adequate time to discuss the measures in the Finance Bill, but the debate on the Finance Bill is a debate about the measures being put forward by the Government under the Finance Bill. That is what Parliament is here to debate and that is what we will have time to debate under this arrangement.

Oral Answers to Questions — Treasury: Topical Questions (28 Nov 2017)

Philip Hammond: The Government are committed to a fair tax system in which those with the broadest shoulders bear the greatest burden, and I am pleased to confirm that my hon. Friend is correct—or almost correct. The latest statistics show that in 2017-18, the top 1% of taxpayers are forecast to pay 28% of all income tax liabilities, and that in 2015-16, income inequality fell to its lowest level since...

Oral Answers to Questions — Treasury: Topical Questions (28 Nov 2017)

Philip Hammond: My hon. Friend knows that I will. It is only by embracing technology, looking to the future, committing to accepting inevitable changes and working with our workforces and companies to ensure that we are ready for it and ready to take full advantage of it that we can raise living standards sustainably, and that is what we intend to do.

Oral Answers to Questions — Treasury: Topical Questions (28 Nov 2017)

Philip Hammond: I do agree with my right hon. Friend. Financial services is of course a vital sector. The details of the publication of documents is a matter for DExEU, but as she has raised the matter I will look into it and let her know.

Oral Answers to Questions — Treasury: Topical Questions (28 Nov 2017)

Philip Hammond: The OBR is responsible for the forecasts that it delivers to the House, and Robert Chote outlined publicly the basis of the assumptions that the OBR had made in setting those functions.

Ways and Means - Financial Statementways and Means (22 Nov 2017)

Philip Hammond: I report today on an economy that continues to grow, continues to create more jobs than ever before, and continues to confound those who seek to talk it down: an economy set on a path to a new relationship with our European neighbours and a new future outside the European Union—a future that will be full of change, full of new challenges, and, above all, full of new opportunities. In...

Ways and Means - Financial Statementways and Means (22 Nov 2017)

Philip Hammond: I shall first report to the House on the economic forecasts of the independent Office for Budget Responsibility. This is the bit with the “long, economicky words”. Once again, I thank Robert Chote and his team for their hard work over the last few weeks. I believe passionately that the best way to improve the lives of people across the length and breadth of this country is to help...

Ways and Means - Financial Statementways and Means (22 Nov 2017)

Philip Hammond: Mr Deputy Speaker, to ensure that this relief also helps first-time buyers in very high price areas like London, it will also be available on the first £300,000 of the purchase price of properties up to £500,000, meaning an effective reduction of £5,000. That is a stamp duty cut for 95% for all first-time buyers who pay stamp duty and no stamp duty at all for 80% of first-time...

Written Ministerial Statements — HM Treasury: Notification of Contingent Liability (20 Nov 2017)

Philip Hammond: The Governor of the Bank of England requested on 20 November 2017 to raise the limit on purchases that may be undertaken by the Asset Purchase Facility (APF). This will ensure that the Term Funding Scheme (TFS) can continue to lend central bank reserves to banks and building societies at rates close to Bank Rate during a defined drawdown period, which will close at the end of February 2018....

Written Ministerial Statements — HM Treasury: Bilateral Loan to Ireland (7 Nov 2017)

Philip Hammond: I would like to update the House on the UK’s bilateral loan to Ireland. In 2010, the Government committed to providing a £3.2 billion bilateral loan to Ireland as part of an international assistance package of €67.5 billion including loans provided by the International Monetary Fund (IMF), European Union (EU), euro-area Member States and other bilateral lenders Sweden and...

Oral Answers to Questions — Treasury: Unemployment (24 Oct 2017)

Philip Hammond: In 2010, we inherited the UK’s largest deficit since the second world war, at 9.9% of GDP. We set out a clear fiscal framework to restore confidence in the economy and reduce the deficit, which has subsequently fallen by more than two thirds. We have delivered the lowest corporation tax rate in the G20 and cut employment costs through the employment allowance. Our unemployment rate, in...

Oral Answers to Questions — Treasury: Unemployment (24 Oct 2017)

Philip Hammond: My hon. Friend is absolutely right to say that we have the lowest unemployment rate for four decades, and that is a remarkable achievement. The British economy has performed with remarkable resilience since June 2016. Last year, we had the second highest growth rate in the G7. The British economy is fundamentally strong and resilient. Yes, we have some short-term uncertainty, but underneath...

Oral Answers to Questions — Treasury: Unemployment (24 Oct 2017)

Philip Hammond: We are preparing for all outcomes in our negotiations with the European Union, but the Government’s objective is to reach a deal. As the Prime Minister made clear in her Florence speech, as part of that deal we want to agree an implementation period, during which businesses and Governments can prepare for the new relationship, and we want to agree the principles of that period as soon...

Oral Answers to Questions — Treasury: Unemployment (24 Oct 2017)

Philip Hammond: One of the remarkable achievements of the past seven years has been the increase in participation in the workforce, particularly in the number of women participating in the workforce. That is in large part due to the family-friendly policies this Government have pursued, with huge increases in the availability of childcare—free childcare—and in the tax deductability of childcare....

Oral Answers to Questions — Treasury: Unemployment (24 Oct 2017)

Philip Hammond: No, and that was not what my right hon. Friend said, as the right hon. Gentleman very well knows. I would, however, agree with him that increasing activity in the construction sector is a very good way of creating jobs, but he will know that at 4.3% our economy is approaching full employment and the output gap is extremely small.


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