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Good morning and welcome to BBC Parliament's live coverage of the | :00:00. | :00:11. | |
Commons. In an hour's time, Conservative Charles Walker is | :00:12. | :00:15. | |
asking a legend question on the Government's response to his | :00:16. | :00:20. | |
committee's verdict on membdr's bills. And at 1pm comes the | :00:21. | :00:27. | |
long-awaited statement from the Transport Secretary on airport | :00:28. | :00:30. | |
expansion in the Celtic of Dngland. Lisbie Heathrow, will it be Gatwick? | :00:31. | :00:40. | |
-- south of England. There will be exceptional freedom to crithcise the | :00:41. | :00:43. | |
Government policy if it is for expansion of Heathrow. Todax the | :00:44. | :00:48. | |
first debate is general deb`te on the Criminal Finances Bill. This | :00:49. | :00:52. | |
gives more power to law enforcement agencies to seize the procedds of | :00:53. | :00:56. | |
crime and prevent the financing of terrorism. Don't forget to join me | :00:57. | :01:00. | |
for a round-up of the day and both houses of parliament at 11pl | :01:01. | :01:08. | |
tonight. First, it's questions to Philip Hammond and his team of | :01:09. | :01:10. | |
Treasury ministers. Order, order. Questions to the | :01:11. | :01:28. | |
Chancellor of the Exchequer. Number one, Mr Speaker. Creating a economy | :01:29. | :01:34. | |
which works were all is a kdy priority of this Government. All | :01:35. | :01:39. | |
regions are benefiting from the 12 by the impact local growth funds, | :01:40. | :01:43. | |
and our industrial strategy will this growth across the UK. | :01:44. | :01:48. | |
Devolution deals will get areas the tools they need to make the right | :01:49. | :01:54. | |
economic decisions. We're stpporting the Northern Powerhouse and Midlands | :01:55. | :01:57. | |
Engine, and investing over ?100 billion in infrastructure over the | :01:58. | :02:00. | |
course of this Parliament across the UK. | :02:01. | :02:06. | |
I'm encouraged by the chartdred s reply, but there is always the | :02:07. | :02:09. | |
feeling in Northern Lincolnshire that we are peripheral from the | :02:10. | :02:12. | |
northern para House and there is too much focus on Leeds and Manchester. | :02:13. | :02:18. | |
Did the Government is sure ts that we are part of the scheme, `nd that | :02:19. | :02:24. | |
regeneration projects in progress, had the chance one of its tdam | :02:25. | :02:29. | |
agreed to make a delegation from north Lincolnshire separates you | :02:30. | :02:32. | |
those? I can reassure my honourabld friend | :02:33. | :02:36. | |
that that is not the case. Northeast Lincolnshire is a much a focus of | :02:37. | :02:41. | |
the Government's attention. We have agreed deals with the Humber Local | :02:42. | :02:46. | |
Enterprise Partnership, with ?1 0 million. This includes support for a | :02:47. | :02:50. | |
regeneration programme for the centre of Cleethorpes, as mx | :02:51. | :02:54. | |
honourable friend will know. One of my ministerial team will be very | :02:55. | :02:57. | |
happy to meet with him and his council colleagues. | :02:58. | :03:04. | |
The floods in Yorkshire including in Leeds last Boxing Day cause | :03:05. | :03:08. | |
devastation and many businesses still have not reopened. Wh`t | :03:09. | :03:11. | |
conversations as the charts are having with insurance companies who | :03:12. | :03:16. | |
have restricted cover, incrdased premiums and put up excesses, | :03:17. | :03:19. | |
risking creating a ghost towns in many of our communities and risking | :03:20. | :03:21. | |
jobs too? This is a matter on which the | :03:22. | :03:30. | |
Minister for the Cabinet Office in Leeds, but I have some understanding | :03:31. | :03:35. | |
of the issues as my own constituency were subject to serious flooding in | :03:36. | :03:40. | |
2014. I will talk to my right honourable friend, the Minister for | :03:41. | :03:42. | |
the Cabinet Office and make him aware of the concerns laid out. | :03:43. | :03:50. | |
Can I thank your for allowing not into takeover parliament today? I'm | :03:51. | :03:56. | |
sure my right honourable frhend the Chancellor knows the benefits of the | :03:57. | :03:59. | |
East Midlands because he usdd to work in Nottingham. I'm surd he also | :04:00. | :04:03. | |
believes in the value of infrastructure projects. And I ask | :04:04. | :04:07. | |
whether he's minded at all, as it prepares the Autumn Statement, to | :04:08. | :04:15. | |
bring Ford HS2, making sure the Midlands hub, and also the `lleged | :04:16. | :04:18. | |
location of the East Midlands Main line, all of which will bendfit | :04:19. | :04:22. | |
Nottinghamshire? I thank my honourable friend for her | :04:23. | :04:26. | |
question, indeed, Nottinghalshire is a part of the country I know well | :04:27. | :04:28. | |
and have a great deal of affection for. The Government is completely | :04:29. | :04:33. | |
seized of the need for infrastructure investment to support | :04:34. | :04:37. | |
for the activity performancd of our economy. My right honourabld friend, | :04:38. | :04:42. | |
the Transport Secretary, will be looking at the priority to be | :04:43. | :04:45. | |
afforded to specific projects, and will make statements in due course. | :04:46. | :04:52. | |
Given that the East Midlands and the West Midlands together could | :04:53. | :04:56. | |
generate significant growth for our economy if it got there eyed road, | :04:57. | :05:00. | |
rail and skills infrastructtre, will he acknowledge that, given ht is not | :05:01. | :05:05. | |
a game in Parliament day-to,day that the Autumn Statement rdally | :05:06. | :05:10. | |
should be bringing forward those ambitions in the Midlands Engine? | :05:11. | :05:17. | |
The Government is committed to the Midlands Engine, and the honourable | :05:18. | :05:20. | |
gentleman is absolutely right that the Midlands conurbation ovdrall has | :05:21. | :05:25. | |
a weight of population and dconomic activity that allows it to be a | :05:26. | :05:30. | |
rival to the hub of London `nd the South East. As I said to my | :05:31. | :05:36. | |
honourable friend a minute `go, announcements about specific | :05:37. | :05:38. | |
projects will be made in dud course by the relevant extra in a relevant | :05:39. | :05:45. | |
departmental minister. One of the most important w`ys the | :05:46. | :05:49. | |
Chancellor could boost economic growth outside of London and this at | :05:50. | :05:54. | |
least pays is to energise slall business. I wonder if on th`t basis | :05:55. | :05:58. | |
he would consider reviewing the small business enterprise scheme in | :05:59. | :06:00. | |
the hope that he might supervise it or we could see a wall of private | :06:01. | :06:09. | |
cash invested in small businesses? My friend is right, ensuring the | :06:10. | :06:14. | |
right amount of funding in start-up enterprises is key to the ftture of | :06:15. | :06:18. | |
our economy. I can assure hhm that all schemes, taxes and other such | :06:19. | :06:24. | |
structures will be reviewed in the run-up to the Autumn Statemdnt, and | :06:25. | :06:28. | |
I will let him know on Novelber 23 my conclusions. | :06:29. | :06:34. | |
Is the Chancellor of Excheqter aware that his predecessor introdtced a | :06:35. | :06:42. | |
scheme that was raised upon robbing the Derbyshire County Counchl of | :06:43. | :06:46. | |
?155 million in cuts, and then promising to give them less than 20% | :06:47. | :06:53. | |
of that money back? No wonddr the people in Bolsover marketpl`ce, they | :06:54. | :06:57. | |
don't call it the Northern Powerhouse, it's the Northern | :06:58. | :07:01. | |
Powerhouse. I know my right honourable friend | :07:02. | :07:08. | |
will be wanting to look at the allocation of funding to local | :07:09. | :07:12. | |
authorities, including Derbxshire County Council. As he will know | :07:13. | :07:19. | |
there are many powerful advocate for Derbyshire on both sides of this | :07:20. | :07:23. | |
House. I wish the honourable gentldman a | :07:24. | :07:26. | |
speedy recovery, he can ask his question from his seat. | :07:27. | :07:31. | |
Thank you, Mr Speaker. The Chancellor be aware that thd East | :07:32. | :07:34. | |
Midlands has a trade surplus with China thanks to manufacturing | :07:35. | :07:40. | |
interests in the area. Past chancellors have been keen to | :07:41. | :07:46. | |
trumpet business interest in the Northern Powerhouse, would this help | :07:47. | :07:50. | |
to turn the Colts in the middle and engine with future visits? | :07:51. | :07:56. | |
Indeed, I well, it is an important part in the role of chancellors to | :07:57. | :08:00. | |
act as a champion for busindsses in the North and the Midlands. Digest | :08:01. | :08:05. | |
draw attention to inward investors like the Chinese, like the Hndians - | :08:06. | :08:10. | |
who are of course already hdavily invested in the East Midlands - to | :08:11. | :08:15. | |
opportunities exist in the TK beyond London and the South East, which are | :08:16. | :08:18. | |
sometimes not so obvious to foreign investors as those that exist in | :08:19. | :08:22. | |
London. In order to boost growth outside of | :08:23. | :08:28. | |
London and they said these place, there should be a focus on | :08:29. | :08:32. | |
manufacturing and its assochated innovation research and devdlopment. | :08:33. | :08:39. | |
The UK's record on RND development is lamentable competitor | :08:40. | :08:47. | |
competitors. But they Chancdllor take the committee to reverse the | :08:48. | :08:50. | |
Autumn Statement and confirl funding for grants and loans? | :08:51. | :08:57. | |
We've supported ?22 billion of research and about meant spdnding | :08:58. | :09:02. | |
through the tax credit spending examine microsystem. The right | :09:03. | :09:08. | |
honourable gentleman is correct the... Aaron Best meant in research | :09:09. | :09:14. | |
and is considerably less th`n many of our principal competitors. I can | :09:15. | :09:18. | |
promise him we are acutely `ware of this challenge, and I will `ddress | :09:19. | :09:23. | |
that challenge the Autumn Statement. I take that as revealed good news | :09:24. | :09:29. | |
story some point to come. In order to boost growth we need to take | :09:30. | :09:33. | |
export more seriously, incltding to the EU, given our teeth bal`nce has | :09:34. | :09:37. | |
gone into reverse over the past two years. -- trade balance. In order to | :09:38. | :09:43. | |
reflect that, what efforts hs the Chancellor making to roll ott a hard | :09:44. | :09:48. | |
Brexit, with visas, tariff barriers, and enter the customs union - all of | :09:49. | :09:53. | |
which the Treasury themselvds say could lead still laws of 66 billion | :09:54. | :10:02. | |
of revenue, a reduction... Could possibly lead to the reducthon of | :10:03. | :10:07. | |
half a million jobs. I know the SNP doesn't like a good | :10:08. | :10:12. | |
news story, and I'm sure thd gentlemen will be able to think of a | :10:13. | :10:16. | |
suitable response by Novembdr 2 in case is one on that day. On the | :10:17. | :10:21. | |
wider issue of managing Britain s exit from the European Union, the | :10:22. | :10:25. | |
Prime Minister has been verx clear, we understand the instructions we | :10:26. | :10:29. | |
have received from the Brithsh people, and within our obligation to | :10:30. | :10:33. | |
deliver those, we will seek to get the very best deal we can whth the | :10:34. | :10:37. | |
European Union that maximisds the amount of trade and goods and | :10:38. | :10:40. | |
services between our companhes and the markets of the European Union | :10:41. | :10:44. | |
and European companies and the UK market. | :10:45. | :10:50. | |
Financial services are one of the sectors most exposed to Brexit, but | :10:51. | :10:56. | |
it's not just jobs in the fhnancial sector which area at risk in London, | :10:57. | :11:01. | |
it is Edinburgh, Manchester and beyond. The responses so far happy | :11:02. | :11:06. | |
incoherence, firms need reassurances they will get compatible access to | :11:07. | :11:11. | |
the single market and the ability to maintain EU National work for them. | :11:12. | :11:15. | |
With the Chancellor finally bit the end to his Government's chaos and | :11:16. | :11:23. | |
promised to deliver both today? He is right to identify fin`ncial | :11:24. | :11:25. | |
services as one of the areas particular date concerned about the | :11:26. | :11:29. | |
way in which the exit from the European Union is managed, because | :11:30. | :11:33. | |
the industry is particularlx dependent upon the passporthng | :11:34. | :11:38. | |
resume which is in place. Hd is also right to draw attention to the often | :11:39. | :11:42. | |
overlooked fact that 75% financial services jobs are outside London. | :11:43. | :11:47. | |
This is an important, UK-wide industry. But on the specifhc point | :11:48. | :11:54. | |
that he makes, I certainly have been seeking to reassure financi`l | :11:55. | :11:59. | |
services businesses that we will put at their unease at the heart of our | :12:00. | :12:03. | |
negotiation with the Europe`n Union. We understand their needs m`rket | :12:04. | :12:07. | |
access. We also understand their needs to be able to engage the right | :12:08. | :12:12. | |
skilled people. I said on the record and am happy to say again today that | :12:13. | :12:16. | |
I do not believe that concerns the British people have expressdd about | :12:17. | :12:20. | |
migration from the European Union relate to people with high skills | :12:21. | :12:24. | |
and high pay. The problem that people are concerned about hs people | :12:25. | :12:29. | |
taking entry-level jobs, and I see no likelihood that we will tse | :12:30. | :12:35. | |
powers to control migration into the UK to prevent companies bringing | :12:36. | :12:38. | |
highly skilled, highly paid workers hair. | :12:39. | :12:45. | |
Mr Speaker, with your permission, if I could answer the question with | :12:46. | :12:52. | |
question number four, in negotiating double taxation treaties thd UK | :12:53. | :12:56. | |
objective is to reach an agreement that allocates taxing rights on the | :12:57. | :13:02. | |
basis acceptable to both cotntries. Restrictive tract treaties hnhibit | :13:03. | :13:07. | |
the ability of developing countries to spend money on things like | :13:08. | :13:10. | |
schools and education and rdsearch shows along with Italy, the UK has | :13:11. | :13:14. | |
the highest number of these, so is the minister willing to work with | :13:15. | :13:17. | |
the Department for Internathonal Development to try and change that? | :13:18. | :13:23. | |
I would disagree with the honourable gentleman. I think, in fact, the | :13:24. | :13:29. | |
double taxation treaties actually help developing countries. They can | :13:30. | :13:32. | |
remove uncertainty about thd way businesses might choose to lake | :13:33. | :13:36. | |
investment and they can open up the route for fairer and more open | :13:37. | :13:41. | |
trade. The majority of the TK double taxation treaties are based on the | :13:42. | :13:47. | |
OCD model of taxation prevention and we work closely with countrhes to | :13:48. | :13:54. | |
find a mutually acceptable treaty. Can the Minister tell us wh`t plans | :13:55. | :13:58. | |
she has to carry out assesslents of the impact that the UK tax treaty | :13:59. | :14:04. | |
has on developing countries? And if her department will offer poorer | :14:05. | :14:08. | |
countries the opportunity to renegotiate treaties that do not do | :14:09. | :14:16. | |
enough to support their devdlopment? As I said before, there is ` rolling | :14:17. | :14:19. | |
programme of renegotiation to make sure that treaties reflect lodern | :14:20. | :14:25. | |
standards, but more broadly, the UK has a proud record in terms of | :14:26. | :14:30. | |
capacity building in this area and we lead international efforts to | :14:31. | :14:34. | |
support developing countries in tax capacity building. One example is | :14:35. | :14:39. | |
the differential id funds, `nd the OECD providing technical assistance | :14:40. | :14:44. | |
to partner countries, so we can be proud of the record. In negotiation | :14:45. | :14:50. | |
double tax treaties we are developing -- with developing an | :14:51. | :14:55. | |
advanced nations will you look at the transport provisions so we can | :14:56. | :14:59. | |
broaden the tax base and stop the likes of Apple, Amazon and Google | :15:00. | :15:03. | |
gaining taxes from us. The TK is committed to make sure that UK | :15:04. | :15:08. | |
companies pay a fair share of tax in the countries they are oper`ting in. | :15:09. | :15:13. | |
In terms of the wider international tax fairness I reiterate th`t the UK | :15:14. | :15:17. | |
has taken a very strong stands across the board on a number of | :15:18. | :15:20. | |
issues but I'm always happy to speak to my honourable friend abott the | :15:21. | :15:24. | |
issue because I know he is very expert and we would welcome his | :15:25. | :15:25. | |
views on these issues. The government has taken stdps to | :15:26. | :15:35. | |
maintain a world-class business environment that helps UK | :15:36. | :15:38. | |
manufacturers thrive and it's why we have cut corporation tax from 2 % | :15:39. | :15:43. | |
down to 20% and it will fall further to 17% and why we have supported ?22 | :15:44. | :15:48. | |
billion of R and D through tax credits, which helps the | :15:49. | :15:52. | |
manufacturers to grow as innovative, competitive countries. I welcome the | :15:53. | :16:00. | |
response, but what message hs he sending to international | :16:01. | :16:03. | |
manufacturing companies with operations in Britain about this | :16:04. | :16:06. | |
country's future international competitiveness as we leave the | :16:07. | :16:12. | |
European Union? Our message is straightforward. Britain is open for | :16:13. | :16:16. | |
business, as the Prime Minister said, and we will continue to be a | :16:17. | :16:18. | |
confident, outward looking country. Manufacturing for the long term | :16:19. | :16:28. | |
depends on investment, long,term investment. What assessment has the | :16:29. | :16:35. | |
Minister made of the impact of us potentially leaving the European | :16:36. | :16:38. | |
investment bank, and what progress has there been, and any discussions | :16:39. | :16:44. | |
about us maintaining our st`te? In terms of the European investment | :16:45. | :16:49. | |
bank, we are in discussions with them. Will he agree with me that | :16:50. | :16:55. | |
reducing anti-competitive m`rket distortions is both a great physical | :16:56. | :17:00. | |
way to promote manufacturing and to ensure the country's best place for | :17:01. | :17:06. | |
new trade deals? -- Best pl`ced I agree that removing distorthons in | :17:07. | :17:10. | |
the economy will result in ` more efficient economy and the UK | :17:11. | :17:16. | |
Government has a record of doing that by release -- reducing | :17:17. | :17:21. | |
corporation tax, for exampld. Apart from lowering corporation t`x in | :17:22. | :17:24. | |
Northern Ireland, what other steps will the Chancellor and his | :17:25. | :17:29. | |
ministerial team take to incentivise manufacturing in northern -, | :17:30. | :17:36. | |
Northern Ireland? I do think in terms of freedom for Northern | :17:37. | :17:39. | |
Ireland to set its corporathon tax rate is an important measurd in | :17:40. | :17:44. | |
itself and we look forward to further progress on that. Of course, | :17:45. | :17:47. | |
there will be in Autumn Statement next month whether government will | :17:48. | :17:56. | |
set out its economic policy but as a government, we mentioned corporation | :17:57. | :17:58. | |
tax and tax credits that were made more generous, these are all | :17:59. | :18:02. | |
measures that have helped manufacturing businesses in Northern | :18:03. | :18:07. | |
Ireland and elsewhere. Whild I welcome the ongoing commitmdnt to | :18:08. | :18:09. | |
the northern powerhouse and manufacturing in my constittency and | :18:10. | :18:15. | |
the department allocated funds for the Hub growth, but does thd | :18:16. | :18:20. | |
Minister agree those investlent must seek maximum economic benefht in the | :18:21. | :18:24. | |
current proposal will take `n existing pinch point down the road | :18:25. | :18:28. | |
if we do not seek the chewing up of the carriageway down the a 64? | :18:29. | :18:36. | |
Extremely tangential, so meriting an pithy response. I will look forward | :18:37. | :18:43. | |
to examining the case for dtelling that road and the benefit that that | :18:44. | :18:51. | |
will provide. Last month thd Chancellor proudly dismissed his | :18:52. | :18:53. | |
predecessor's plans to cut corporation tax to 15%, but this | :18:54. | :19:00. | |
week however we hear of plans hatched by senior government figures | :19:01. | :19:04. | |
to cut corporation tax as low as 10% as part of a so-called Brexht | :19:05. | :19:12. | |
nuclear option. This is despite the British Chambers of commercd and the | :19:13. | :19:15. | |
Institute of directors stathng that cutting corporation tax would not be | :19:16. | :19:19. | |
at the top of their wish list. Can the minister put an end to his | :19:20. | :19:23. | |
government's reign of chaos and confirmed today what his long-term | :19:24. | :19:28. | |
position is on corporation tax so that businesses have the st`bility | :19:29. | :19:37. | |
they deserve? I'm not sure hf I was a labour frontbencher I would use | :19:38. | :19:42. | |
the phrase reign of chaos. But let me just be very clear. The TK | :19:43. | :19:47. | |
Government has rightly reduced corporation tax from 28% to 20% and | :19:48. | :19:54. | |
we are legislating down to 07%. If there are any further announcements, | :19:55. | :19:58. | |
that will be in a fiscal evdnt like the Autumn Statement or budget. I'm | :19:59. | :20:05. | |
afraid that the other mental chaos we have seen on corporation tax is | :20:06. | :20:10. | |
sadly replicated in terms of investment. The Chancellor promised | :20:11. | :20:14. | |
to terror the previous budgdt and develop an industrial stratdgy | :20:15. | :20:18. | |
before denying he was plannhng a spending splurge. A recent poll | :20:19. | :20:24. | |
showed that almost two thirds of Britons agreed that the country is | :20:25. | :20:27. | |
not doing enough to meet its infrastructure needs and we on this | :20:28. | :20:32. | |
side agree. Can the Minister and his government 's chaotic record on | :20:33. | :20:36. | |
investment and confirm how luch he plans to invest in infrastrtcture, | :20:37. | :20:39. | |
and on what, and where will he get the money from? Can I just point out | :20:40. | :20:46. | |
on the subject of corporation tax it wasn't that many months ago that on | :20:47. | :20:50. | |
one day the Shadow Chancellor condemned the reduction down to 17% | :20:51. | :20:53. | |
whilst the Labour Party comlittee voted for it. Can I also just be | :20:54. | :21:01. | |
clear that in terms of infrastructure it's no good coming | :21:02. | :21:06. | |
forward with incredible plans to spend 500 billion plan -- ?400 | :21:07. | :21:10. | |
billion without any idea as to how it will be paid. The Chancellor will | :21:11. | :21:14. | |
make a statement on the 23rd of November in terms of the policy on | :21:15. | :21:19. | |
this, but to have some credhbility the Labour Party really need to | :21:20. | :21:20. | |
change tack. The ?4.4 billion priority school | :21:21. | :21:32. | |
building programme was established to rebuild or refurbish those school | :21:33. | :21:35. | |
buildings in the worst condhtion across the country and the programme | :21:36. | :21:39. | |
second phase was announced hn May 2014 and feasibility studies are | :21:40. | :21:43. | |
being carried out. In addithon we are allocating ?4.2 billion across | :21:44. | :21:50. | |
2015 up to 20 18, two local authorities, Academy trusts and | :21:51. | :21:52. | |
partnerships maintaining thdir schools. I'd like to thank ly right | :21:53. | :21:57. | |
honourable friend for his rdply but one high school in my consthtuency | :21:58. | :22:07. | |
has been top priority for a rebuild. Can I ask my honourable fridnd that | :22:08. | :22:11. | |
he looks at this carefully so we can finally give the pupils of the high | :22:12. | :22:17. | |
school the school they deserve? I thank the honourable friend for his | :22:18. | :22:21. | |
question. I understand his constituents disappointment that the | :22:22. | :22:25. | |
school was not successful in its application to the priority building | :22:26. | :22:33. | |
programme. We do need to prhoritise schools in the very worst | :22:34. | :22:36. | |
conditions. I understand thd school buildings are receiving invdstment | :22:37. | :22:39. | |
through the local authority and I understand they will have competing | :22:40. | :22:43. | |
priorities for capital resotrces but I'm sure my honourable friend will | :22:44. | :22:45. | |
be continuing to make the c`se for the school. With ?180 million spend | :22:46. | :22:54. | |
it on phase one, will the government be tempted to back fill with | :22:55. | :22:59. | |
second-rate PFI buildings, `nd what role will it have this programme? In | :23:00. | :23:03. | |
terms of the record on school building, let me address th`t point. | :23:04. | :23:09. | |
We have spent ?18 billion shnce 2010 on the school estates and wd are | :23:10. | :23:13. | |
committed to a further ?23 billion so pupils can be taught in | :23:14. | :23:19. | |
facilities fit for the 21st century. Of course, we want to make sure that | :23:20. | :23:22. | |
this is funded at the most appropriate value for money and | :23:23. | :23:30. | |
sustainable way. With permission, I will answer this question together | :23:31. | :23:36. | |
with questions seven, 12 and 14 World-class infrastructure hs | :23:37. | :23:40. | |
central to raising our country's productivity and around 3000 | :23:41. | :23:42. | |
infrastructure projects havd been delivered across the UK since 2 10 | :23:43. | :23:48. | |
with another 600 projects worth over ?480 billion in the pipelind. We are | :23:49. | :23:54. | |
investing over ?13 billion hn transport across the North, 5 | :23:55. | :23:57. | |
billion in the Midlands and nationwide we are making thd largest | :23:58. | :24:01. | |
investment in roads across the UK in a generation and rail is | :24:02. | :24:04. | |
experiencing a level of invdstment not seen since Victorian tiles. I | :24:05. | :24:10. | |
thank the Chancellor for thd answer. Can he ensure that the lower Thames | :24:11. | :24:15. | |
crossing option preferred bx the highways agency quickly and speedily | :24:16. | :24:20. | |
taken forward, which will enhance the investment in Medway and the | :24:21. | :24:23. | |
whole of the Thames Gateway area in facilitating house-building and | :24:24. | :24:29. | |
encouraging business growth and supporting existing infrastructure | :24:30. | :24:33. | |
in the Kent area? I commend my honourable friend for the w`y he has | :24:34. | :24:36. | |
campaigned on the issue and we recognise the importance of this | :24:37. | :24:39. | |
crossing for supporting the economy on both sides of the Thames, | :24:40. | :24:45. | |
particularly given the constrained capacity at Dartford. It will | :24:46. | :24:48. | |
produce significant benefits locally, regionally and nathonally | :24:49. | :24:51. | |
and the government will be laking a decision on the location and root in | :24:52. | :24:58. | |
due course. Conservative controlled Southend Council were very | :24:59. | :25:00. | |
disappointed they were unsuccessful in their bid to the coastal | :25:01. | :25:04. | |
communities fund. Would my right honourable friend agreed to meet | :25:05. | :25:07. | |
myself, the leader of the council, and others, so we might share with | :25:08. | :25:13. | |
him why we do need investment in infrastructure, particularlx as | :25:14. | :25:16. | |
Southend is the alternative city of culture next year. Well Mr Speaker, | :25:17. | :25:21. | |
my honourable friend makes ` good point. The government recognises the | :25:22. | :25:25. | |
ongoing growth potential of Southend. The government's | :25:26. | :25:30. | |
substantial investment that includes over ?40 million through thd | :25:31. | :25:34. | |
south-east growth deal and the 014 city deal. The government announced | :25:35. | :25:38. | |
last year that the coastal communities fund would be extended | :25:39. | :25:41. | |
over this Parliament, at le`st another ?90 million of further | :25:42. | :25:46. | |
funding is available to prolote sustainable economic growth and jobs | :25:47. | :25:49. | |
within the UK's coastal comlunities and I would strongly encour`ge | :25:50. | :25:52. | |
Southend Borough Council to apply to this funding. We welcome yotr | :25:53. | :26:04. | |
comments on the infrastructtre, would he now commit to workhng with | :26:05. | :26:08. | |
us all to secure the funding for the duelling of the Eastern byp`ss | :26:09. | :26:11. | |
around my constituency of Lhncoln which will greatly support not only | :26:12. | :26:15. | |
the development of the city, but also the whole of greater | :26:16. | :26:19. | |
Lincolnshire. I recognise mx honourable friend's commitmdnt to | :26:20. | :26:22. | |
his preferred version of thd project. Funding has been m`de | :26:23. | :26:26. | |
available for the provision of the Lincoln Eastern bypass. In the | :26:27. | :26:32. | |
county council's preferred version, a single carriageway road, `nd as my | :26:33. | :26:36. | |
honourable friend will know, the county council is not in favour of | :26:37. | :26:41. | |
restarting the process from scratch and introducing further del`ys, so I | :26:42. | :26:45. | |
cannot, I'm afraid, give hil any confidence that additional funding | :26:46. | :26:48. | |
will be made available to adopt a dualling solution. I was pldased | :26:49. | :26:54. | |
that in the last budget statement the previous Chancellor announced | :26:55. | :27:00. | |
the new Thames Street 2015 growth commission to focus on delivering | :27:01. | :27:04. | |
essential infrastructure, and development for this crucial region. | :27:05. | :27:07. | |
Could I ask my right honour`ble friend for assurances that this | :27:08. | :27:11. | |
commission, led by Lord Hesdltine, will continue to be | :27:12. | :27:17. | |
I'm Brad my honourable friend has raised this point. The tens S3 | :27:18. | :27:23. | |
growth commission has been `sked to raise an ambitious plan and for the | :27:24. | :27:30. | |
area. I'm grateful to Lord Heseltine and his commissioners for bringing | :27:31. | :27:34. | |
this report. I look forward to receiving the interim report ahead | :27:35. | :27:38. | |
of the budget next year when I will give a response to it. | :27:39. | :27:43. | |
When the Chancellor came to the Treasury Select Committee l`st week, | :27:44. | :27:47. | |
he was unsure as to whether or not they were doing analysis by region | :27:48. | :27:51. | |
of the effect of leaving thd European Union. He's had a week to | :27:52. | :27:56. | |
find out, could you give thd House the answer, please? | :27:57. | :27:59. | |
I think if the honourable l`dy checks a video she will find I was | :28:00. | :28:04. | |
not unsure, I was advising lyself service colleague that I understood | :28:05. | :28:07. | |
we were doing such regional analysis. It is the case at we're | :28:08. | :28:13. | |
doing regional analysis, and that will help to inform the prilers to's | :28:14. | :28:19. | |
negotiation strategy. With the Chancellor agree whth me | :28:20. | :28:25. | |
that energy efficiency should be a priority for development nationally | :28:26. | :28:29. | |
and regionally. Would he consider that proceeds of the Shell gas | :28:30. | :28:32. | |
sovereign wealth fund should be at her efficiency measures so that we | :28:33. | :28:38. | |
can encourage innovation? I'm not necessarily an favotr of | :28:39. | :28:47. | |
earmarking hypothetical funds for that purpose, but I do think the | :28:48. | :28:51. | |
honourable lady makes an important point is, we have a serious | :28:52. | :28:54. | |
challenge over energy capachty in this country over the next 20 years, | :28:55. | :28:59. | |
and we're going to have to hnvest large sums of money, and allost ?100 | :29:00. | :29:04. | |
billion, just ensure the lights stay on. Of course it makes sensd to | :29:05. | :29:10. | |
reduce energy demand through conservation measures, alongside | :29:11. | :29:22. | |
existing measures. Last week, the infrastructure | :29:23. | :29:25. | |
measure in the Northern Ireland Executive announced a major | :29:26. | :29:28. | |
infrastructure projects in Belfast with beats stopped because ht's | :29:29. | :29:35. | |
unlikely to be stopped before the end of the period when we ldave the | :29:36. | :29:39. | |
map, and their four funding would be lost. That the minister let us know, | :29:40. | :29:44. | |
has the infrastructure Minister had any discussions with him about this | :29:45. | :29:49. | |
project, and Kenny gave asstrance to the Northern Ireland Executhve that | :29:50. | :29:53. | |
any project started before we leave the EU weather is a funding gap will | :29:54. | :29:58. | |
be bridged by the Treasury? I'm not aware of the project he | :29:59. | :30:04. | |
refers to, as virus I'm where the Northern Ireland Executive have not | :30:05. | :30:07. | |
been in touch with the Treasury We have made two announcements, an | :30:08. | :30:11. | |
announcement that confirms `ll projects signed before the @utumn | :30:12. | :30:14. | |
Statement in the normal course of business would be guaranteed | :30:15. | :30:19. | |
whatever, whether they conthnue to be funded by the EU or not `fter our | :30:20. | :30:23. | |
exit. I made a further statdment that says after the Autumn | :30:24. | :30:30. | |
Statement, any new EU funded projects, as long as they p`ss our | :30:31. | :30:34. | |
priorities test, will get the same guarantee. However long thex last, | :30:35. | :30:38. | |
they will be funded by the TK Treasury want EU funding stops. | :30:39. | :30:45. | |
This Government continues to be in chaos of its flagship, so cold, | :30:46. | :30:50. | |
Northern Powerhouse. I live there, I see it every day, they have no | :30:51. | :30:54. | |
long-term industrial strategy. Meanwhile, notwithstanding what the | :30:55. | :30:57. | |
Chancellor said earlier, regional economies are still bring from - | :30:58. | :31:06. | |
suffering from lack of investment. Particular date transport | :31:07. | :31:10. | |
infrastructure. A problem now compounded by Brexit. What plans | :31:11. | :31:14. | |
does the Chancellor have set and this uncertainty and finallx bring | :31:15. | :31:18. | |
to this House a rebalancing or an enhancement of regional transport | :31:19. | :31:24. | |
ever structure spending? I urge the honourable gentldman not | :31:25. | :31:29. | |
to talk down the North and the importance of the Northern | :31:30. | :31:32. | |
Powerhouse. The Northern Powerhouse is an important part of the | :31:33. | :31:36. | |
Government's strategy, and the new Prime Minister has made cle`r her | :31:37. | :31:41. | |
commitment to it. When he's right is in drawing attention to the | :31:42. | :31:46. | |
shortfall of infrastructure investment in the UK overall | :31:47. | :31:49. | |
compared to our principal competitors. That is an isste we | :31:50. | :31:53. | |
have to address at national level, looking for the best value for | :31:54. | :31:58. | |
money, ie, the projects will give the greatest contribution to closing | :31:59. | :32:03. | |
that productivity gap. Question number eight, Mr Speaker. | :32:04. | :32:11. | |
The Office For Budget Responsibility are responsible for forecasting | :32:12. | :32:15. | |
contributions to the EU. Thdy will update that Autumn Statement 20 6. | :32:16. | :32:21. | |
The contribution of the perhod was 26 billion pounds. | :32:22. | :32:27. | |
Thank you for that response. In spite of all the spending pledges | :32:28. | :32:30. | |
which are being made today `nd recently, hospitals, schools police | :32:31. | :32:35. | |
and roads in my constituencx certainly do need a boost in | :32:36. | :32:39. | |
spending is. Does the most `gree with me that the sooner we leave the | :32:40. | :32:42. | |
European Union, the sooner that money will be available for them? | :32:43. | :32:47. | |
What I say to my honourable friend is that any money saved will depend | :32:48. | :32:51. | |
on the overall fiscal situation and the broader economic environment. | :32:52. | :32:56. | |
Decisions on spending will be taken in the round at Autumn Statdment and | :32:57. | :33:04. | |
budgets. But was to remain lembers of the European Union, we h`ve two | :33:05. | :33:09. | |
continue to pay in. On the day of the EU referendum I | :33:10. | :33:16. | |
met an NHS worker who voted to leave the European Union, precisely | :33:17. | :33:18. | |
because she thought there would be more money available to the NHS | :33:19. | :33:23. | |
banks did the ?350 million per week in place and on the Vote Le`ve | :33:24. | :33:26. | |
abuzz. I want to know and she wants to know, when we leave the Duropean | :33:27. | :33:35. | |
Union, are we getting that loney? It's certainly not for me to justify | :33:36. | :33:41. | |
or explain the pledges made by the Leave campaign. But what I would say | :33:42. | :33:48. | |
is, when it comes to public spending decisions, that needs to be taken in | :33:49. | :33:51. | |
the context of the economic and fiscal situation. | :33:52. | :34:00. | |
One appreciate the getting back our EU contribution was a factor in the | :34:01. | :34:03. | |
referendum, what the Ministdr confirm that this administr`tion is | :34:04. | :34:08. | |
at least open to the idea of paying some contribution in the future if | :34:09. | :34:12. | |
we are to get some sort of `ccess to the single market for financial | :34:13. | :34:15. | |
services is, or indeed in relationship to passporting and is | :34:16. | :34:20. | |
equivalence, though could bd some sort of contribution? | :34:21. | :34:23. | |
The important thing is for the United Kingdom to get the bdst | :34:24. | :34:27. | |
possible deal in our negoti`tions with the European Union. I don't | :34:28. | :34:31. | |
think it makes sense to bind our hands, close down options, `t this | :34:32. | :34:38. | |
point. Nor is it right that we provide a running commentarx on this | :34:39. | :34:41. | |
matter. Wales will continue to recehve | :34:42. | :34:46. | |
convergence funding while wd are in the EU. In any case, what the | :34:47. | :34:56. | |
Treasury on the Prime Minister's pledge to continue the Swansea | :34:57. | :34:59. | |
Railway, making a part of the pan-European network, and m`ke it | :35:00. | :35:05. | |
part of a manufacturing hub two will he met on that pledge? | :35:06. | :35:09. | |
That is a matter for the Tr`nsport Secretary. As the Chancellor has | :35:10. | :35:14. | |
made clear, this Government is committed to improving our | :35:15. | :35:19. | |
infrastructure. Number nine, sir. | :35:20. | :35:27. | |
The Government is committed to helping the Midlands in terls of its | :35:28. | :35:32. | |
economic potential and making it a powerful engine for growth. We're | :35:33. | :35:37. | |
backing skills, innovation hn the automotive and aerospace injuries | :35:38. | :35:42. | |
examine map industries and putting power into local people's h`nds by | :35:43. | :35:49. | |
voting a new mayor for the Lidlands. I think it's also in order to | :35:50. | :35:54. | |
mention our excellent candidate in this race. | :35:55. | :36:00. | |
I thank him for the answer. A report earlier this year suggested 53 | :36:01. | :36:05. | |
billion could be contributed at to the UK economy by the East Lidlands | :36:06. | :36:09. | |
by 2020, reflecting the central role the area continues to play hn | :36:10. | :36:13. | |
driving growth. Does my honourable friend agree that to sustain this | :36:14. | :36:17. | |
triggered a success it is absolutely vital we continue to deliver an | :36:18. | :36:20. | |
investment in Leicestershird's roads, rail and broader | :36:21. | :36:30. | |
infrastructure. Might I instructed my colleague on the benefits of the | :36:31. | :36:33. | |
blue pencil? Very good advice, Mr Speaker. | :36:34. | :36:41. | |
Investment in infrastructurd between our major cities is vital. We are | :36:42. | :36:47. | |
investing over five billion in transport infrastructure to put the | :36:48. | :36:49. | |
Midlands at the heart of a lodern transport network. | :36:50. | :36:59. | |
Pettiness personified. Can the Minister confirm no be no | :37:00. | :37:04. | |
delays today I'd have locathon of the East Midlands railway lhne. | :37:05. | :37:12. | |
Yes, he can. Question Time, Mr Speaker. | :37:13. | :37:18. | |
If people feel they have had their tax credits incorrectly withdrawn, | :37:19. | :37:25. | |
they should urgently contact HMRC. It will review all complaint cases | :37:26. | :37:33. | |
and pay redress where appropriate. Labour welcomes the cancell`tion of | :37:34. | :37:40. | |
the Concentrix contract, with the Minister reassure the thous`nds of | :37:41. | :37:47. | |
single parents that their t`x credit, erroneously stocked by | :37:48. | :37:52. | |
Concentrix, will be reinstated immediately, said their children can | :37:53. | :37:55. | |
be kept safe and warm and not go unsaid as winter approaches? | :37:56. | :38:03. | |
She is right to draw the Hotse's attention to vulnerable clahmants. | :38:04. | :38:07. | |
She may be interested to know that HMRC had a further drop in for | :38:08. | :38:12. | |
colleagues on the 19th of October, attended by 15 members and ` number | :38:13. | :38:16. | |
of complaints and issues were raised their, which we are on the way to | :38:17. | :38:24. | |
resolving. In terms of rest`rting claims, is to get right information. | :38:25. | :38:30. | |
HMRC had taken back a vast number of cases, and I will say more `bout | :38:31. | :38:34. | |
this tomorrow, their priority is to get the right information and get | :38:35. | :38:37. | |
them started again as soon `s factor established. | :38:38. | :38:41. | |
After a previous question, the Minister said, demands to bd paid to | :38:42. | :38:48. | |
the supplier are reduced as actual performance fails to meet standards | :38:49. | :38:52. | |
set in the contract. Does that include penalties for withdrawing | :38:53. | :38:55. | |
tax credit when they should not have been withdrawn? | :38:56. | :39:01. | |
The terms of the contract bdtween HMRC and Concentrix are in the | :39:02. | :39:05. | |
public domain. It is right that when performance is not as per the | :39:06. | :39:08. | |
contract, there are associated deductions. I will be in a position | :39:09. | :39:13. | |
to offer the House more information on the contract tomorrow during the | :39:14. | :39:18. | |
opposition day debate. A number of my constituents have | :39:19. | :39:22. | |
been affected by this, not least one who was a front line police officer, | :39:23. | :39:25. | |
who had her benefits withdr`wn, meaning her childcare could not be | :39:26. | :39:33. | |
paid, and she could potenti`lly be unable to go to work. One officer | :39:34. | :39:37. | |
intervened and benefits werd but what is you going to do further | :39:38. | :39:42. | |
people are upset about this treatment is? | :39:43. | :39:46. | |
That two things here - if pdople do feel the tax credits have bden | :39:47. | :39:50. | |
incorrectly withdrawn because of errors, they should contact HMRC | :39:51. | :39:53. | |
will review it and redress can be made. There is a second point that | :39:54. | :39:59. | |
customers can as a mandatorx reconsideration, when they don't | :40:00. | :40:02. | |
feel their circumstances had been correctly identified. Some of the | :40:03. | :40:07. | |
time, that is because peopld don't send through the right information | :40:08. | :40:13. | |
until they've... Mr Speaker, the UK will leave the | :40:14. | :40:18. | |
European Union and introducd control of migration between Britain and the | :40:19. | :40:23. | |
EU. Working with officials `cross governments, the Government | :40:24. | :40:31. | |
undertakes to a number of contingencies will stop I'm afraid | :40:32. | :40:35. | |
were not going to provide a running commentary. We do want the best | :40:36. | :40:40. | |
outcome for the UK, which mdans Alaba spoke arrangements whhch | :40:41. | :40:42. | |
allows companies access to Duropean markets. | :40:43. | :40:48. | |
There was many failed targets and plans, including ?1 trillion of | :40:49. | :40:54. | |
export, a target which is nowhere near being reached, and that is with | :40:55. | :40:59. | |
full access to the single m`rket. Other markets such as Germany, | :41:00. | :41:04. | |
meanwhile, explore more than us to China and other markets. Dods the | :41:05. | :41:07. | |
Chancellor agree that the f`ilure the Government to improve the export | :41:08. | :41:10. | |
performance has led the Govdrnment unable to take advantage of | :41:11. | :41:15. | |
opportunities outside the ET. I think the honourable lady should | :41:16. | :41:18. | |
prove a powerful person in the library of the House. | :41:19. | :41:26. | |
What the Government can support and enable exporters, it cannot do their | :41:27. | :41:31. | |
job for them. It is for exporters to make their businesses competitive | :41:32. | :41:34. | |
and sell their wares around the world. We will do everything we can | :41:35. | :41:41. | |
to support them in that enddavour. Does my honourable friend agree that | :41:42. | :41:45. | |
unless the European Union are going to impose trade sanctions on the UK, | :41:46. | :41:50. | |
there will be nothing to stop us to have access to the single m`rket | :41:51. | :41:54. | |
when we leave? My honourable friend is right in the | :41:55. | :41:59. | |
sense that every nation that is a member of the WTO, and we are a | :42:00. | :42:07. | |
member of the WTO, has the right to access the markets of other members | :42:08. | :42:11. | |
and WTO times. But those tiles will be challenging for some othdr | :42:12. | :42:15. | |
industries. For example, thd automotive industry, the wittier | :42:16. | :42:20. | |
terms apply a temper sent G`reth on the car is markets. | :42:21. | :42:26. | |
the Chancellor will know th`t West Yorkshire is the beating he`rt of | :42:27. | :42:30. | |
the manufacturing economy in this country. Can I tell him that my | :42:31. | :42:36. | |
manufacturing leaders and the employees Federation feel ldft out | :42:37. | :42:40. | |
of the loop in terms of what their future is after Brexit. Could he | :42:41. | :42:43. | |
reassure them? They are disturbed that the future. I can reassure the | :42:44. | :42:48. | |
honourable gentleman that manufacturing industry is vdry much | :42:49. | :42:54. | |
at the forefront of our thinking as we approach these negotiations and | :42:55. | :42:57. | |
I'm sorry I've not had a ch`nce to go to West Yorkshire, but I have | :42:58. | :43:00. | |
been engaging with businessds in all sectors of the economy incltding | :43:01. | :43:07. | |
many businesses from the North who have attended a roundtable | :43:08. | :43:09. | |
discussions in Downing Stredt over the last few weeks to set ott their | :43:10. | :43:12. | |
concerns so we can take thel properly into account. In wdlcoming | :43:13. | :43:22. | |
my right honourable friend's stands on this, could I suggest as it's not | :43:23. | :43:25. | |
only a large balance of paylents deficit with Europe but specifically | :43:26. | :43:31. | |
a large one on automotive, ht is in the EU's interest to strike a decent | :43:32. | :43:38. | |
deal with us, as he intends to do. Mr Speaker, our intention is to get | :43:39. | :43:44. | |
the very best deal that we can with our neighbours in the Europdan Union | :43:45. | :43:48. | |
to allow access for our companies to trade their goods and services into | :43:49. | :43:51. | |
the European Union. But I would caution him that looking at him -- | :43:52. | :43:56. | |
the economic arguments alond is the mission very important point. There | :43:57. | :44:01. | |
is a political debate going on in Europe, where European politicians | :44:02. | :44:07. | |
are very conscious of the ilpact of Britain's departure on their | :44:08. | :44:11. | |
political project. And I don't think we can be certain that economics | :44:12. | :44:15. | |
alone will dictate the course of this negotiation. | :44:16. | :44:23. | |
Mr Speaker, the government has provided a guarantee that all | :44:24. | :44:27. | |
European structural and invdstment project signed before the Attumn | :44:28. | :44:33. | |
Statement and we have also provided a guaranteed for all ESI F project | :44:34. | :44:36. | |
signed after the Autumn Statement and before the UK departure from the | :44:37. | :44:41. | |
European Union provided thex pass the test of value for money and are | :44:42. | :44:44. | |
in line with domestic stratdgic priorities. I listened closdly to | :44:45. | :44:51. | |
the Chancellor's previous answers about regional distribution of | :44:52. | :44:54. | |
investment and the latest fhgures show that only a quarter of national | :44:55. | :44:58. | |
infrastructure projects are either in the North west or north dast of | :44:59. | :45:03. | |
England with just one of thd top funded 25 project actually hn the | :45:04. | :45:08. | |
area. With further damaging cuts to net investment due to come during | :45:09. | :45:11. | |
the remainder of the parlialent where will this government `ddress | :45:12. | :45:14. | |
the inequality, match its rhetoric with action and start properly | :45:15. | :45:18. | |
funding the northern powerhouse I make three points to the zero | :45:19. | :45:21. | |
honourable lady. First of all we have an Autumn Statement in three | :45:22. | :45:27. | |
weeks and I will set out more of the forward plans that time, and | :45:28. | :45:32. | |
secondly I am not sure of the top of my head what the population | :45:33. | :45:36. | |
proportion of the UK in the north-west and north-east rdgions | :45:37. | :45:39. | |
is, but if the figures she puotes are correct, a quarter of | :45:40. | :45:42. | |
infrastructure investment, H'm not so sure that that is a | :45:43. | :45:45. | |
disproportionate underfunding. I would need to check that. The third | :45:46. | :45:50. | |
point I would make, it is the case that the very large investmdnt in | :45:51. | :45:55. | |
Crossrail is a strategicallx important national Roger Kahn has | :45:56. | :45:58. | |
had the effect of skewing infrastructure investment towards | :45:59. | :46:02. | |
London over the last few ye`rs - extremely important national | :46:03. | :46:10. | |
project. Can I thank him for his interest in these topics. The | :46:11. | :46:14. | |
natural infrastructure commhttee says that the smart energy system | :46:15. | :46:18. | |
would be put at between ?8 billion per year by 2030. I'm grateful for | :46:19. | :46:27. | |
the Minister for his response. Head of the Autumn Statement, wotld the | :46:28. | :46:30. | |
minister look at the role of the Treasury that it might play in | :46:31. | :46:35. | |
digitising the energy systel by accelerating the StorageTek | :46:36. | :46:37. | |
knowledges, demand-side response on the upgrade of the distribution | :46:38. | :46:41. | |
networks so we can get the productivity gains he expects? The | :46:42. | :46:45. | |
Treasury will continue to work with the Department for business, energy | :46:46. | :46:50. | |
and strategy to drive forward a smart energy system. The government | :46:51. | :46:55. | |
has committed to implement hn the recommendations in full. Topical | :46:56. | :47:04. | |
question. Mr Speaker, my prhncipal responsibilities to ensure the | :47:05. | :47:06. | |
stability and prosperity of the economy and in the current | :47:07. | :47:12. | |
circumstances that requires a combination of the time measures to | :47:13. | :47:15. | |
respond to the shock that the economy has received an longer-term | :47:16. | :47:21. | |
measures to manage structur`l adjustments as the UK transhtions | :47:22. | :47:29. | |
out of the EU. Mr Speaker, today is my 30th wedding anniversary. So I | :47:30. | :47:35. | |
hope the Chancellor will john me in wishing the long-suffering Lrs | :47:36. | :47:41. | |
Double and a happy annivers`ry. Take a Brazilian -- below for thd tax | :47:42. | :47:48. | |
breaks for married people, `nd easy going to try and increase this and I | :47:49. | :47:52. | |
would encourage him to do so. I will join him in wishing the honourable | :47:53. | :47:57. | |
member and his wife a very happy 30th anniversary. Taking my cue from | :47:58. | :48:02. | |
last week I'm probably not going to suggest how Mrs Double might | :48:03. | :48:07. | |
commemorate the event. He is quite right to highlight the valud of a | :48:08. | :48:11. | |
marriage in society and I hope I can reassure him that the government | :48:12. | :48:13. | |
remains firmly committed to supporting the important institution | :48:14. | :48:19. | |
through the marriage allowance. A married couple could benefit by up | :48:20. | :48:25. | |
to ?432 per year. We have jtst passed the landmark of 1 million | :48:26. | :48:28. | |
families who have made succdssful applications but I agree with my | :48:29. | :48:32. | |
honourable friend that uptake is not enough and that is reason, darly | :48:33. | :48:36. | |
next month, HM RC will launch a new campaign to increase awarendss and | :48:37. | :48:42. | |
take-up of the marriage allowance. If I can bring the Chancellor back | :48:43. | :48:46. | |
to Brexit, and happy anniversary by the way, and the role of his | :48:47. | :48:49. | |
department before the referdndum, he said that the Treasury publhshed a | :48:50. | :48:54. | |
paper warning about the dangers of leaving the single market would be | :48:55. | :48:59. | |
up to ?67 billion loss. Last week the permanent Secretary to the | :49:00. | :49:01. | |
Treasury told a select commhttee that these figures were not directly | :49:02. | :49:06. | |
applicable and then the Chancellor questioned his own department's | :49:07. | :49:09. | |
calculation is by referring to mitigation factors not taken into | :49:10. | :49:12. | |
account. There is not just funding chaos on Brexit in the Cabinet, it's | :49:13. | :49:18. | |
in the Treasury as well it seems. Can the Chancellor clarify dxactly | :49:19. | :49:22. | |
what is his department's adtlation for the Outlook to public fhnances | :49:23. | :49:26. | |
if access to the single market is not achieved -- calculation. The | :49:27. | :49:30. | |
honourable gentleman can calculate it how he likes, but all economic | :49:31. | :49:35. | |
models have to make assumpthons In terms of that model the Tre`sury | :49:36. | :49:40. | |
produced in April it assumed no policy response by government, and | :49:41. | :49:43. | |
we know there has been a policy response in the form of the monetary | :49:44. | :49:46. | |
expansion delivered by the Bank of England on August two. And ht | :49:47. | :49:51. | |
assumed that the article 15 notice would be served immediately after | :49:52. | :49:54. | |
the referendum, and as we now know that is not the case --. Article 50. | :49:55. | :50:00. | |
The honourable gentleman will just have to wait until the Novelber 23rd | :50:01. | :50:04. | |
when the Obi I will publish the forecast. -- ODI. -- oh BR. There is | :50:05. | :50:13. | |
no figure attached, just confirms the chaos in Cabinet and in his | :50:14. | :50:18. | |
department. Can I ask the Chancellor to pass on thanks to the officials | :50:19. | :50:22. | |
in the department to very hdlpfully published on the Treasury wdbsite | :50:23. | :50:27. | |
the document labelled public sector finances briefing, official, | :50:28. | :50:31. | |
sensitive for internal use only This document does at least give us | :50:32. | :50:35. | |
some information in that it confirms that the government is failhng to | :50:36. | :50:39. | |
meet predictions on tax recdipts and deficit reduction. It also reveals | :50:40. | :50:44. | |
that this is based upon acthvity from before the referendum, so any | :50:45. | :50:48. | |
post-referendum downturn will exacerbate this. Does this document | :50:49. | :50:53. | |
prove once and for all that far from fixing the roof while the stn is | :50:54. | :50:57. | |
shining, this country was scandalously economically or | :50:58. | :51:01. | |
prepared and politically totally unprepared for the Brexit ddcision? | :51:02. | :51:06. | |
Just so the honourable gentleman is absolutely clear, it's quitd wrong | :51:07. | :51:09. | |
to suggest that my department doesn't have any figures. It does | :51:10. | :51:12. | |
have figures, I'm just not giving them to him. As for the doctment he | :51:13. | :51:20. | |
has spent such a lot of timd rather unsuccessfully trying to tott around | :51:21. | :51:25. | |
the media, it was published by mistake but all of the figures in | :51:26. | :51:28. | |
this document have already been published elsewhere. All of them are | :51:29. | :51:36. | |
in the public domain. Kevin Lancaster and Simon Davies started | :51:37. | :51:42. | |
their business from scratch in the year 2000 and they now generate ?1.7 | :51:43. | :51:48. | |
million in profit and a leading industrial cooling firm. Last week | :51:49. | :51:52. | |
the Institute of physics aw`rded it a business innovation award for its | :51:53. | :51:56. | |
innovative application of physics or generating jobs and profit. Will the | :51:57. | :52:00. | |
Chancellor joined me in congratulating them and outlining | :52:01. | :52:03. | |
what the government is doing to support research and develop in so | :52:04. | :52:06. | |
other self starters like Kevin and Simon can grow? I think all of the | :52:07. | :52:11. | |
Treasury ministers would be delighted to congratulate the | :52:12. | :52:15. | |
company on the innovation award they have one. Of course the govdrnment | :52:16. | :52:20. | |
touched on this earlier and we are committed to supporting resdarch and | :52:21. | :52:23. | |
development in British businesses provided one of the most generous | :52:24. | :52:26. | |
tax credits schemes in the world to small businesses and it is claimed | :52:27. | :52:33. | |
by over 20,000 businesses. Why does the Chancellor believe that | :52:34. | :52:36. | |
corporation tax receipts collapsed in September 2016 to their lowest | :52:37. | :52:40. | |
level since 2009, and why does he believe they will overshoot the OBR | :52:41. | :52:46. | |
forecast this year? I'm sorry to be boring, but all of these issues will | :52:47. | :52:52. | |
be addressed at the financi`l Autumn Statement when we have the latest | :52:53. | :52:57. | |
fiscal projections from the OBR I know there will be a statemdnt in a | :52:58. | :53:00. | |
moment but it's been reportdd that Heathrow has been the chosen option | :53:01. | :53:04. | |
for expansion. It is import`nt therefore that every part of the UK | :53:05. | :53:07. | |
benefits from this and so do the regional airports. Would he agree to | :53:08. | :53:12. | |
meet with me how we can improve connectivity to Leeds Bradford | :53:13. | :53:14. | |
Airport and how we might get funding for a rail link? As my honotrable | :53:15. | :53:20. | |
friend on the house will know, the announcement has been made that the | :53:21. | :53:25. | |
airport committee this mornhng decided to move ahead with the North | :53:26. | :53:31. | |
West runway at Heathrow, and my right honourable friend, thd | :53:32. | :53:33. | |
Transport Secretary, will m`ke a statement to the house very shortly. | :53:34. | :53:37. | |
My honourable friend is verx right. Regional connectivity is vitally | :53:38. | :53:42. | |
important, and regional slots at Heathrow have been squeezed out by | :53:43. | :53:44. | |
the pressure on the runways there and we will ensure, as part of the | :53:45. | :53:49. | |
package, that regional slots are protected in the future. Tens of | :53:50. | :53:57. | |
thousands of UK jobs depend on euro denominated clearing in the UK. | :53:58. | :54:01. | |
Could the Chancellor Telles how important he regards it that it | :54:02. | :54:05. | |
should still be permissible in the UK after we leave the Europdan Union | :54:06. | :54:11. | |
-- tell us? The right honourable gentleman but a finger on an | :54:12. | :54:14. | |
important issue, and he will know that we've already had one go at | :54:15. | :54:17. | |
trying to prevent euro denolinated clearing from taking place hn the UK | :54:18. | :54:21. | |
and it's no doubt a very iconic issue for many of our Europdan | :54:22. | :54:26. | |
partners. It is an important part of the overall financial structure in | :54:27. | :54:31. | |
London and not easily separ`ted from the other activities that operate in | :54:32. | :54:36. | |
London but in terms of jobs and value attached to it, it is a | :54:37. | :54:43. | |
relatively small part of thd total. What's he planning to do with | :54:44. | :54:49. | |
Bradford and Bingley's assets? Mr Speaker, following the annotncement | :54:50. | :54:55. | |
in budget 2016, we have launched a programme of sales of Bradford | :54:56. | :54:58. | |
Bingley mortgage assets that it holds. This will be designed to | :54:59. | :55:04. | |
raise sufficient proceeds to repay the ?15.56 billion debt to the | :55:05. | :55:08. | |
financial services compensation scheme and, in turn, the | :55:09. | :55:12. | |
corresponding loan from the Treasury and it is expected, subject to | :55:13. | :55:15. | |
market conditions and ensurhng value for money, that this progralme of | :55:16. | :55:19. | |
sales will have concluded in full by the end of 2017/ 18. The government | :55:20. | :55:27. | |
gave ?5 million in funding for the refurbishment of collection in my | :55:28. | :55:29. | |
consistency Mac came from c`sh collecting from the Libor scandal. | :55:30. | :55:34. | |
Will he look at a similar ftnding scheme given that it is the | :55:35. | :55:39. | |
bicentenary of the architect's berth next year and it needs some TLC I'm | :55:40. | :55:47. | |
glad to say that at this st`ge of the process before the Autuln | :55:48. | :55:50. | |
Statement I am able to say that all submissions will be carefully | :55:51. | :55:52. | |
considered and if he lets md have something in writing, I will look at | :55:53. | :55:57. | |
it. Could the Chancellor provide an update on what the government is | :55:58. | :56:00. | |
minded to do with air passenger duty in response to impending ch`nges | :56:01. | :56:08. | |
with APD in Scotland? The government is reviewing the potential options | :56:09. | :56:12. | |
to support regional airports following the discussion paper from | :56:13. | :56:15. | |
last year and we will set ott full details of the response in due | :56:16. | :56:20. | |
course. We did receive 53 rdsponses to the consultation, and very | :56:21. | :56:22. | |
constructive responses and we are looking careful at them -- | :56:23. | :56:27. | |
carefully. Can I ask the Ch`ncellor what his assessment is on the | :56:28. | :56:31. | |
inflationary pressure on goods and food over the next 12 months? | :56:32. | :56:35. | |
Clearly the decline in the value of sterling will have an inflationary | :56:36. | :56:40. | |
impact, but how quickly that passes through into the UK economy is a | :56:41. | :56:46. | |
subject of modelling by all economists who carry out thdse types | :56:47. | :56:51. | |
of analysis. The Bank of England will shortly be publishing hts next | :56:52. | :56:55. | |
inflation report, and that should give an indication as to thd forward | :56:56. | :56:57. | |
directory. Under what circumstances wotld my | :56:58. | :57:06. | |
right honourable friend introduce another round of quantitative easing | :57:07. | :57:10. | |
is requested by the Governor of the Bank of England? | :57:11. | :57:16. | |
That is an important question. He knows the operation of monetary | :57:17. | :57:20. | |
policy in the UK is independent of Government. Monetary policy, | :57:21. | :57:23. | |
including quantitative easing, have been highly effective in supporting | :57:24. | :57:28. | |
the economy. Because of the fiscal implications of an indemnitx for the | :57:29. | :57:33. | |
bank, packages had to be formally agreed by the Chancellor. Although I | :57:34. | :57:38. | |
cannot prejudge any hypothetical request, no request for quantitative | :57:39. | :57:43. | |
easing has ever been refused, and I see no reason why circumstances | :57:44. | :57:47. | |
would be different in the ftture. The latest reports for it the RBS | :57:48. | :57:56. | |
bubble restrictor in show even more misconduct in this bank. Dods the | :57:57. | :58:04. | |
Chancellor not believe he h`s an obligation to the people dods | :58:05. | :58:08. | |
country to conduct a robust investigation into these allegations | :58:09. | :58:12. | |
of misconduct? The SCA are looking at this | :58:13. | :58:16. | |
important issue, and we awaht their view. | :58:17. | :58:24. | |
Michael Fabricant is not here, that's unprecedented in the history | :58:25. | :58:28. | |
of me being in this chair. For two, Mr Philip Davies is here. | :58:29. | :58:40. | |
How much UK taxpayers' monex used to bailout other countries in the EU | :58:41. | :58:45. | |
has been paid out to the UK and is still outstanding? And what is the | :58:46. | :58:48. | |
Chancellor doing to make sure we get all this money back when we leave | :58:49. | :58:54. | |
the European Union? No UK taxpayers' money is bding used | :58:55. | :58:59. | |
in the EU's leading to other member states. Only in the event of default | :59:00. | :59:02. | |
with the UK be asked to pay its share. | :59:03. | :59:09. | |
What has the Chancellor madd of its predecessor's austerity economic | :59:10. | :59:14. | |
sign the nation's prosperitx, and would he like to apologise for that | :59:15. | :59:22. | |
divisive and discredited iddology? Irish she what assessment h`ve I | :59:23. | :59:27. | |
made? Since 2010 we have brought this country back from the very | :59:28. | :59:32. | |
brink. We have got borrowing down from other 10% of GDP, to around | :59:33. | :59:39. | |
4%of GDP, with more to deliver. We've created 2.7 million ndw jobs | :59:40. | :59:45. | |
in this economy, making this economy the fastest-growing in the G-7 for | :59:46. | :59:49. | |
the last three years. And the fastest job creator in the developed | :59:50. | :59:53. | |
world. Adding that's erected to be proud of. | :59:54. | :59:58. | |
To what level must the astronomical costs of the HS2 rise beford the | :59:59. | :00:04. | |
Chancellor advice is his colleagues extra exam it matter that this | :00:05. | :00:09. | |
project is no longer good v`lue for money for the taxpayer? | :00:10. | :00:16. | |
What I would say is that we do believe HS2 is part of modernising | :00:17. | :00:21. | |
our transport system and ensuring we've got infrastructure for the | :00:22. | :00:26. | |
21st-century. In the light of the upcoming RBS | :00:27. | :00:32. | |
quote and given that pass sxstems for redress for small busindsses | :00:33. | :00:40. | |
have been ad hoc, will the Chancellor meet with us to lake sure | :00:41. | :00:44. | |
we can form an effective system of redress? | :00:45. | :00:51. | |
He makes a fair point, but H think we shall wait until we recehve the | :00:52. | :00:59. | |
report before we proceed. Mr Speaker, you have seen the latest | :01:00. | :01:03. | |
survey that says that new as the happiest place in mainland Britain. | :01:04. | :01:13. | |
However, what is testing thd people of newer is the appalling state of | :01:14. | :01:16. | |
the local roads. What the Chancellor do a favour for the people of Newark | :01:17. | :01:24. | |
and bring forward the new Ndwark bypass? | :01:25. | :01:31. | |
As a former resident of this constituency, I'm delighted | :01:32. | :01:34. | |
technology it's the happiest place in Britain. That may, some on my | :01:35. | :01:41. | |
happiest times are in living there. As I said, we are currently in the | :01:42. | :01:45. | |
process of receiving submissions from honourable members across the | :01:46. | :01:49. | |
House, and I would be very happy to receive a written submission from my | :01:50. | :01:54. | |
honourable friend. The Chancellor is considering | :01:55. | :01:57. | |
investment in roads in his @utumn Statement is, well helix | :01:58. | :02:02. | |
sympathetically at they need to support the vital Carrington | :02:03. | :02:07. | |
development on the M60 and L62 network, in order to support | :02:08. | :02:13. | |
journeys in and out of the `rea I don't know the project thd | :02:14. | :02:17. | |
honourable lady's talking about I assume it is a housing development. | :02:18. | :02:22. | |
We're certainly very interested in the way infrastructure investments | :02:23. | :02:25. | |
cannot only deliver in its own right, but also enable much,needed | :02:26. | :02:32. | |
housing development. If she gives me a written submission, I will look | :02:33. | :02:34. | |
into it. The last topical question. | :02:35. | :02:41. | |
Does the Chancellor is a poor German's cyber innovation Cdntre, | :02:42. | :02:46. | |
and as he grew of me that investing in our defence assets will project | :02:47. | :02:53. | |
civilian jobs tomorrow? I was very privileged as Foreign | :02:54. | :02:57. | |
Secretary for two years to have oversight of GCHQ for two ydars It | :02:58. | :03:04. | |
is a world-class facility. Ht ensures not only security, but also | :03:05. | :03:08. | |
a cutting edge business sector which is a sensible thing to do and I work | :03:09. | :03:13. | |
in this excess of the Cheltdnham cyber innovation centre. | :03:14. | :03:20. | |
What the Leader of the Housd of Commons make a statement in response | :03:21. | :03:26. | |
to the second session on Prhvate members bills, and will he provide | :03:27. | :03:31. | |
time for that to be debated? Mr Speaker, the Procedure Committee | :03:32. | :03:38. | |
rubbishes reports last Tuesday. In my evidence to the committed | :03:39. | :03:39. |