Results 101–120 of 12353 for speaker:Philip Hammond

Oral Answers to Questions — Treasury: Wage Levels (11 Sep 2018)

Philip Hammond: Today’s data show regular wages growing at the fastest rate for three years. The Office for Budget Responsibility forecast that wages will continue to grow, reaching 3.5% by 2021, while consumer prices index inflation will continue to fall, reaching the target of 2% by the end of this year. That is welcome news for everybody. Nevertheless, the Government recognise the pressure on household...

Oral Answers to Questions — Treasury: Wage Levels (11 Sep 2018)

Philip Hammond: I have already acknowledged the pressure that the high street is under, and it is certainly something that the Government are extremely concerned about. I do not think that we can hold back the tide of changing consumer behaviour, but it is certainly right that we seek to facilitate high streets as they evolve. I remember, when I came into this House 21 years ago, that there was a similar...

Oral Answers to Questions — Treasury: Wage Levels (11 Sep 2018)

Philip Hammond: The hon. Gentleman needs to look a little deeper. The real answer to low wages is improving productivity. The challenge for this Government—for any Government in this country—is to work with industry, trade unions and training institutions to ensure that we address our productivity challenge. That means investment in infrastructure and skills, support for businesses to improve management,...

Oral Answers to Questions — Treasury: Wage Levels (11 Sep 2018)

Philip Hammond: I know that he does have such views, Mr Speaker. As my right hon. Friend asked—and I know that her Committee questioned the Governor on this subject last week—I can now announce to the House that I have been discussing with the Governor his ability to serve a little longer in post in order to ensure continuity through what could be quite a turbulent period for our economy in the early...

Oral Answers to Questions — Treasury: Wage Levels (11 Sep 2018)

Philip Hammond: Yes, thanks to this Government’s introduction of the national living wage.

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

Philip Hammond: My principal responsibility is to ensure economic stability and the continued prosperity of the British people, both during this period of heightened uncertainty and beyond it after Brexit. I will do so by building on the plans that I set out in the autumn Budget and the spring statement. This Government will continue to take a balanced approach to the public finances that enables us to give...

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

Philip Hammond: I think it comes back to the same point: it depends if my hon. Friend is buying.

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

Philip Hammond: There is no ambiguity at all about the Government’s objective. They want to strike a deal with the European Union based on the White Paper that we have published, which we believe will be good for Britain and good for the European Union. We are devoting all our efforts over the coming weeks and months to securing that deal and protecting the British economy.

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

Philip Hammond: First, I would love to know what it actually said on the right hon. Gentleman’s bit of paper. Let me be very clear to him. I, the Prime Minister and all members of the Cabinet are committed to achieving a deal that protects British jobs, British businesses and British prosperity going forward. That is what we are committed to. He is absolutely right that time is running out. We are working...

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

Philip Hammond: First, I recognise my hon. Friend’s long-standing commitment to this cause and the role that his constituency has played in bringing to people’s attention the catastrophe going on with plastics in our oceans. We want to be the first generation that leaves the environment in a better state than we found it, and tackling the scourge of plastic waste is a clear priority to support that. As...

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

Philip Hammond: In 2010, the Government inherited the largest Budget deficit since the second world war, at 9.9% of GDP. Our balanced approach to fiscal policy means that we have significantly reduced the deficit by over four fifths, to 1.9% of GDP last year. That has had benefits for all our constituencies, as the economy has continued to grow. My hon. Friend’s constituents will have seen that benefit: in...

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

Philip Hammond: I imagine the reason is that the provision of these services is contracted out, but I will investigate and write to the hon. Lady.

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

Philip Hammond: In areas of the country like the one my hon. Friend mentions we have seen a resurgence of the entrepreneurial spirit since the financial crisis, with high levels of employment and good levels of wages. Now we need to see businesses being prepared to invest and innovate to grow productivity so that we can carry on seeing wages rising to create the sustainable high-wage economy that we all want...

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

Philip Hammond: I think I will treat my hon. Friend’s comments as a Budget submission.

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

Philip Hammond: I suggest that the hon. Gentleman either has a hearing test or relies on the Hansard of this session, because he has misheard what we have been saying today.

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

Philip Hammond: I certainly agree with my hon. Friend that the Royal Navy is vital to the defence of Britain’s interests around the world, and in peacetime it is the principal way in which we can project our power and military influence around the world. We are waiting for the conclusion of the modernising defence review that is being undertaken by the Defence Secretary with the Cabinet Office. Once we...

Written Ministerial Statements — Treasury: Informal ECOFIN 07-08 September 2018 (6 Sep 2018)

Philip Hammond: An informal meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Vienna on 07-08 September 2018. The Council will discuss the following: Working Lunch - The European Investment Bank: Achievements and future challenges Based on a Presidency Issues note, the Council will discuss the achievements and future challenges of the European Investment Bank (EIB). Working...

Written Ministerial Statements — Treasury: ECOFIN: 13 July 2018 (24 Jul 2018)

Philip Hammond: A meeting of The Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 13 July 2018. EU Finance Ministers discussed the following: Early Morning Session The Eurogroup President briefed the Council on the outcomes of the 12 July meeting of the Eurogroup, and the European Commission provided an update on the current economic situation in the EU. VAT: Generalised Reverse Charge...

Written Ministerial Statements — Treasury: ECOFIN: 13 July 2018 (12 Jul 2018)

Philip Hammond: A meeting of The Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 13 July 2018. The Council will discuss the following: Early Morning Session The Eurogroup President will brief the Council on the outcomes of the 12 July meeting of the Eurogroup, and the European Commission will provide an update on the current economic situation in the EU. VAT: Generalised Reverse...

Written Ministerial Statements — Treasury: ECOFIN: 22 June 2018 (3 Jul 2018)

Philip Hammond: A meeting of The Economic and Financial Affairs Council (ECOFIN) was held in Luxembourg on 22 June 2018. ECOFIN was preceded by a morning meeting of the EIB Board of Governors. Annual EIB Board of Governors meeting The EIB Board of Governors meeting included a speech by EIB President Werner Hoyer, a Governors discussion on the future direction of the Bank, reappointment of the Board of...


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