Results 141–160 of 11963 for speaker:Philip Hammond

Oral Answers to Questions — Treasury: Topical Questions (18 Apr 2017)

Philip Hammond: We are very keen on employees having an opportunity to take a stake in the businesses for which they work. We will look carefully at any proposals that would tend to enhance productivity by incentivising and encouraging employees.

Oral Answers to Questions — Treasury: Topical Questions (18 Apr 2017)

Philip Hammond: The hon. Lady will know that my right hon. Friend the Secretary of State for Education is considering responses to the consultation on the school funding formula. At the Budget, we announced a substantial increase in funding for 16-to-19 technical education, which will make an important contribution to improving the UK’s productivity.

Oral Answers to Questions — Treasury: Topical Questions (18 Apr 2017)

Philip Hammond: I know that my hon. Friend regards the islands as particularly important, and I concur with him on that. The Government support continuing economic growth across the south-east, including all regions and islands. The Solent local enterprise partnership receives more than £180 million from the local growth fund, including funding for investment in local skills and business start-ups, with...

Oral Answers to Questions — Treasury: Topical Questions (18 Apr 2017)

Philip Hammond: As I have already said, this should be seen for what it is: an opening gambit in a long and complex negotiation.

Oral Answers to Questions — Treasury: Topical Questions (18 Apr 2017)

Philip Hammond: I am afraid that the hon. Gentleman will just have to contain himself and ready his money, because he will be able to buy a copy in due course.

Oral Answers to Questions — Treasury: Topical Questions (18 Apr 2017)

Philip Hammond: We are making real progress in realising our holdings in the banking sector. We continue the programmed sale of our shareholding in Lloyds, which is now down from 43% to less than 2%. Just last month, we sold £12 billion of Bradford and Bingley mortgages in a highly competitive process. The Government are not at present actively marketing their stake in RBS. Our policy remains to return...

Oral Answers to Questions — Treasury: Topical Questions (18 Apr 2017)

Philip Hammond: That deficit is still £60 billion, but it was £200 billion when we started working on it.

Oral Answers to Questions — Treasury: Topical Questions (18 Apr 2017)

Philip Hammond: As it happens, I was just planning my domestic travel arrangements for the next five weeks, and I will keep my hon. Friend’s request in mind when I do that.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: To echo what my right hon. Friend the Prime Minister said in Question Time, I am rather reluctant to take lessons from the right hon. Gentleman on anything except, perhaps, chaos theory; he certainly knows something about that. He talks about being forced to make a decision. We have listened to our colleagues and the voices of public opinion. In my view, that is how Parliament should work. We...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: In the Budget speech last week, I made very clear that we were seeking to close the gap a little. We were not seeking to equalise the contributions treatment of the employed and self-employed, as there are very good reasons why there may well need to be a gap. That is why we will look at this in the round—contributions, entitlements and the way the whole package works for the...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: On the last point, we will, of course, consult people widely over the course of the summer as we carry out the review. The hon. Gentleman will know that it is intrinsic in the Budget process that it is difficult to have any kind of proper consultation when preparing a Budget. He asked about measures in the autumn Budget. I said that all spending measures in the spring Budget would be fully...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: Yes, I can assure my hon. Friend that this Government will always be on the side of those who genuinely strive to take risks, to innovate, to grow businesses and to contribute in that way to the economy. However, the right hon. Member for Hayes and Harlington (John McDonnell), in his response to the statement, addressed the issue of bogus self-employment, and he is right: there is a problem...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: I find it a bit extraordinary that that should be the hon. Gentleman’s intervention. He, after all, is the one who said that Labour would fund its £500 billion plans by doubling income tax, doubling national insurance, doubling council tax and doubling VAT. He is the one who sounded the alarm on the Opposition side. Look, I have had extensive conversations with colleagues since the...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: I am grateful to my right hon. Friend. We have, absolutely, recognised the view of colleagues on the crucial issue of the manifesto commitment. However, on the substantive issue of the differences in treatment of people who are employed and people who are self-employed, there is a fundamental structural challenge that will have to be addressed, and that includes the question of how we extend...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: I have to say that that was an extraordinary contribution, because the hon. Lady cannot have it both ways or, to put it another way, have her cake and eat it. She wants me to adopt a broad interpretation of manifesto commitments and to adhere to it, and she wants me to protect the revenue base by addressing the difference in contribution treatment between the employed and the self-employed. I...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: The straight answer to my right hon. Friend is that only in the la la land that the Labour party occupies is that trick is possible. Of course, my right hon. Friend is right to draw attention to the issue, and I emphasise again my commitment in this Budget to fiscal neutrality— the right hon. Member for Hayes and Harlington (John McDonnell), of course, does not believe in fiscal neutrality.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: The right hon. Gentleman says, “Dear me”. I repeat: he does not—[Interruption.]

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: Thank you, Mr Speaker. The right hon. Gentleman does not believe in fiscal neutrality—that is a fact. He believes in borrowing £500 billion of additional money, and saddling our children and our grandchildren with that debt. However, I very much take my right hon. Friend’s advice on maintaining fiscal neutrality and dealing with the structural issue that underlies this statement.

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: The right hon. Gentleman is right. As I have said, there is, as the economy changes shape, an increasing tendency for employers, effectively, to drive people out of employment and into what is thinly disguised employment, badged as self-employment. That is one of the issues that Matthew Taylor is looking at in his review. I have had the opportunity to have a preliminary meeting with him. We...

Class 4 National Insurance Contributions (15 Mar 2017)

Philip Hammond: My hon. Friend is absolutely right: it is about the environment being conducive to people starting and running small businesses. I congratulate those in Rossendale who do that—who get up every morning and who are prepared to take those risks. They will now benefit from the abolition of class 2 national insurance contributions, making them that little bit better off.


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