Results 141–160 of 12208 for speaker:Philip Hammond

Previous Business – Commons: Select Committee (5 Mar 2018)

European Scrutiny: EU Withdrawal. 4:30 pm; Room 8, Palace of Westminster
Witnesses: Rt Hon Philip Hammond MP, Chancellor of the Exchequer Mark Bowman, Director General, International Finance, HM Treasury

Oral Answers to Questions — Treasury: PFI Contracts and Carillion (27 Feb 2018)

Philip Hammond: I am sure that the hon. Gentleman knows this, but just to put it in context, the vast majority of all current PFI projects—86%—were signed under the previous Labour Government. Since coming into office in 2010, this Government have reformed the approach, so that now PF2 contracts deliver better value for money for taxpayers. The performance of PFI contracts, including those where...

Oral Answers to Questions — Treasury: PFI Contracts and Carillion (27 Feb 2018)

Philip Hammond: The hon. Gentleman may be slightly confusing PFI contracts with outsourcing contracts that do not involve capital structures. The resolution of Carillion continues. So far, there has been a very high rate of uptake by private clients of Carillion to continue the services that are being delivered, and we have high hopes of protecting the vast majority of the jobs involved.

Oral Answers to Questions — Treasury: PFI Contracts and Carillion (27 Feb 2018)

Philip Hammond: We absolutely value transparency in the public-private partnerships that are delivered. They are an important part of the overall infrastructure. As I just explained to the House, there are currently no PF2 projects in procurement. That indicates that we have set the bar for value for money in public-private partnerships very high, and we will continue to do so.

Oral Answers to Questions — Treasury: PFI Contracts and Carillion (27 Feb 2018)

Philip Hammond: I have not yet received a letter from the shadow Chancellor, but if he has written to me, I shall of course reply to him and answer his questions.

Oral Answers to Questions — Treasury: Major Infrastructure Investment (27 Feb 2018)

Philip Hammond: As my hon. Friend the Exchequer Secretary to the Treasury has just told the House, there has been more than £0.25 trillion of public and private investment in infrastructure since 2010. We continued to invest in infrastructure in the autumn Budget 2017 by expanding the national productivity investment fund, so that it will now provide £31 billion of additional investment,...

Oral Answers to Questions — Treasury: Major Infrastructure Investment (27 Feb 2018)

Philip Hammond: My hon. Friend is right that the major road network will support the creation of new housing developments by improving access to future development sites and boosting suitable land capacity, so investment decisions for this funding will include consideration of how proposed schemes will unlock land for housing developments, helping to improve how transport is planned for new developments at...

Oral Answers to Questions — Treasury: Major Infrastructure Investment (27 Feb 2018)

Philip Hammond: My right hon. Friend is a great champion of infrastructure in Essex, and I share her wish to create a more dependable railway with an increased focus on punctuality and reliability, which is why the Government are pursuing the biggest rail investment programme since Victorian times. Under the Greater Anglia franchise, there is a commitment to deliver more services and faster journey times,...

Oral Answers to Questions — Treasury: Major Infrastructure Investment (27 Feb 2018)

Philip Hammond: My hon. Friend is right to observe that we cannot build the homes this country needs without infrastructure. Often, the push-back from local communities against the idea of accommodating greater numbers of homes is caused by the fear that infrastructure will not keep pace. The autumn Budget 2017 more than doubled the housing infrastructure fund, taking it to a total of £5 billion. On 1...

Oral Answers to Questions — Treasury: Major Infrastructure Investment (27 Feb 2018)

Philip Hammond: My constituency has also been affected by flooding, and some of the responses are major engineering projects that take time to develop. The Department for Environment, Food and Rural Affairs and the Environment Agency have funding for flood relief projects, but those developments have to be prioritised and worked up into proper business cases. I will look at the specific case the hon. Lady...

Oral Answers to Questions — Treasury: Major Infrastructure Investment (27 Feb 2018)

Philip Hammond: I imagine that the right hon. Gentleman is referring to the Swansea Bay tidal lagoon project which, as he knows, is under consideration by the Government. An announcement will be made in due course.

Oral Answers to Questions — Treasury: Major Infrastructure Investment (27 Feb 2018)

Philip Hammond: I just do not recognise or agree with the hon. Gentleman’s figures. The Infrastructure and Projects Authority’s analysis shows that infrastructure investment per capita in the north is actually higher than in the south-east.

Oral Answers to Questions — Treasury: Major Infrastructure Investment (27 Feb 2018)

Philip Hammond: The Government are committed to the northern powerhouse project and recognise that that has to be supported through infrastructure investment. We are looking at northern powerhouse infrastructure investment projects on a case-by-case basis, and we will continue to support the development of the northern powerhouse.

Oral Answers to Questions — Treasury: EU Exit Analysis (27 Feb 2018)

Philip Hammond: The cross-Whitehall analysis referred to is provisional internal analysis—it is part of a broad, ongoing programme of analysis—and further work is in train. The analysis has been developed as a tool to inform Ministers on the European Union Exit and Trade Committee and its Sub-Committees about the choices that must be made as negotiations progress.

Oral Answers to Questions — Treasury: EU Exit Analysis (27 Feb 2018)

Philip Hammond: The Government intend to maintain the greatest possible access for British businesses to European Union markets. The hon. Lady is right that we should approach this on the basis of evidence. We should look for evidence of the value of our trade flows with Europe and what jobs they generate in the UK, and we should look objectively at the opportunities that arise with third-country trade deals...

Oral Answers to Questions — Treasury: EU Exit Analysis (27 Feb 2018)

Philip Hammond: As the hon. Lady knows, the analysis to which she refers is based on standardised, off-the-shelf trade models. The Government are seeking a bespoke deal with the European Union to deliver a deep economic partnership, which would have a completely different set of outcomes. That remains our objective.

Oral Answers to Questions — Treasury: Leaving the EU (27 Feb 2018)

Philip Hammond: Membership of the European economic area would require free movement of people with the rest of the European Union, and the UK Government have been clear that the free movement of people cannot continue as it does now. We are seeking a bespoke, comprehensive and ambitious economic partnership in the mutual interests of the UK and the EU.

Oral Answers to Questions — Treasury: Leaving the EU (27 Feb 2018)

Philip Hammond: As I said in answer to a previous question, the figures to which my hon. Friend refers are based on standardised trade models, not the bespoke deal that we are seeking to achieve. She asks what steps I am taking to protect her constituents’ interests. I am supporting my colleagues in seeking to negotiate an ambitious economic partnership with the EU that delivers the maximum possible...

Oral Answers to Questions — Treasury: Leaving the EU (27 Feb 2018)

Philip Hammond: The hon. Lady is absolutely right that the creative industries are one of Britain’s great success stories. More broadly, our services sector is our strategic strength in many respects. As we negotiate our future relationship with the European Union, we have to ensure that we protect not only the market in goods, but the market in services, where Britain has such significant comparative...

Oral Answers to Questions — Treasury: Topical Questions (27 Feb 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. This Government are determined to meet the important challenges we face and to seize the opportunities ahead as we create an economy fit for the future. Our balanced approach to the public finances enables us to...


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