Live Treasury Questions

:00:00. > :00:12.Hello and welcome to BBC Parliament's live coverage from the

:00:13. > :00:16.House of Commons. The Foreign Secretary will make a statement to

:00:17. > :00:20.the House on Libya following his visit to Tripoli to support the new

:00:21. > :00:27.UN backed national unity Government. After that the Conservative and main

:00:28. > :00:33.will have ten minutes to look at her farming bill. Then there is the Bank

:00:34. > :00:38.of England and financial services bill. The legislation brings the

:00:39. > :00:44.Bank of England into the remit of the National Audit Office. Join me

:00:45. > :00:49.for a round-up of the day in both Houses of Parliament at 11 o'clock

:00:50. > :00:50.tonight. First, questions to the Chancellor of the Exchequer and his

:00:51. > :01:16.team of ministers. Order, order. Questions to the

:01:17. > :01:19.Chancellor of the Exchequer. The Government is committed to providing

:01:20. > :01:24.data on active National Insurance numbers used by people from other EU

:01:25. > :01:32.countries. HMRC was compiling this information and is looking into

:01:33. > :01:37.reconciling the main source of integration data. National insurance

:01:38. > :01:42.numbers will be published as part of the ONS publication and it is up to

:01:43. > :01:49.their independent statistics authority to when they will make

:01:50. > :01:55.this public. I have been asking them for these figures. The British

:01:56. > :02:01.people have a right to know such facts, particularly in the context

:02:02. > :02:06.of the UK EU Referendum Bill debate. Can I have assurances that we will

:02:07. > :02:09.know how many foreign nationals have National Insurance numbers from

:02:10. > :02:17.other EU countries before the referendum on June 23? It does

:02:18. > :02:26.require HMRC to combine and match multiple HMRC DWP data sets. It does

:02:27. > :02:34.take some time. The intention is to publish alongside the ONS analysis

:02:35. > :02:38.and I know they have planned to publish a note on this migration

:02:39. > :02:43.matter in incorporating the latest available migration data and to

:02:44. > :02:47.explain whale -- why the datasets are shown different trends. What

:02:48. > :02:52.about the 3.3 million people, one in ten of the existing workforce who

:02:53. > :02:57.pay their National Insurance and tax and their jobs linked to UK exports

:02:58. > :03:02.into the European Union? He agreed that those leave campaigners should

:03:03. > :03:06.just cross their fingers and dismiss reality and that all of us on all

:03:07. > :03:10.sides of this house have a duty to spell out the facts that leaving the

:03:11. > :03:17.European Union will put real jobs at real risk. The honourable gentleman

:03:18. > :03:21.will be aware of the Treasury analysis published yesterday that

:03:22. > :03:26.shows the consequences were we to leave the European Union and the

:03:27. > :03:31.various models that it involves. A permanent reduction to our GDP

:03:32. > :03:35.compared to what it would be, damage to productivity growth, that would

:03:36. > :03:39.be significant. I think the honourable gentleman is right to

:03:40. > :03:43.highlight that point. Will the Government welcome this opportunity

:03:44. > :03:49.to bring forward actual data without the need to project forward 14 years

:03:50. > :03:58.using techniques which are proven inaccurate every six months? As I

:03:59. > :04:04.said, HMRC have gone through that data. They will provide that to the

:04:05. > :04:11.ONS. It is for the ONS to decide the timing. I drew the House's attention

:04:12. > :04:14.to what they said. Returning to the Treasury analysis, it is the case

:04:15. > :04:20.that it is comparing one scenario with their scenarios and of the

:04:21. > :04:25.three possible scenarios set out if we leave the European Union, all of

:04:26. > :04:31.them leave this country poorer than we would otherwise be. The impact of

:04:32. > :04:35.the EU membership on jobs is significant. Could the Minister

:04:36. > :04:42.passed my congratulations to the officials who have done a useful

:04:43. > :04:47.analysis yesterday? On page 65 there is a regional breakdown which

:04:48. > :04:50.suggests that 100,000 jobs in the north-east are dependent on EU

:04:51. > :04:57.exports. I had previously thought the figure should be 140,000. Could

:04:58. > :05:06.he revise it up? I will take on board that representation. There is

:05:07. > :05:10.the large Nissan plant that provides significant numbers of jobs. The

:05:11. > :05:14.argument made in the Treasury analysis is that we benefit from an

:05:15. > :05:19.open economy. If we leave the single market we become a less open

:05:20. > :05:25.economy. That will have a cost to the British people in terms of their

:05:26. > :05:31.living standards. Disgracefully dodgy documents published by the

:05:32. > :05:37.Treasury yesterday which frankly is worthy of the children's programme

:05:38. > :05:41.Jackanory, the immigration figures suggest there will be 3 million

:05:42. > :05:46.immigrants to this country by 2030, placing my honourable friend in

:05:47. > :05:49.clear breach of the Conservative manifesto commitment to reduce

:05:50. > :05:57.immigration to tens of thousands per year. What is his response to that

:05:58. > :06:04.accusation? The numbers are based on the ONS production that was used at

:06:05. > :06:08.the last budget. No account is taken of the achievements of the

:06:09. > :06:14.renegotiation the Prime Minister achieved. In terms of the Treasury

:06:15. > :06:19.analysis, a large number of independent economic commentators

:06:20. > :06:23.have argued that it is broadly in the right direction. I would say to

:06:24. > :06:28.my honourable friend to advocate that we leave the European Union,

:06:29. > :06:33.for them to come forward with their own analysis setting out exactly

:06:34. > :06:42.what model they should follow and what the economic consequences of

:06:43. > :06:48.that would be. We are both building more houses and helping young

:06:49. > :06:52.families for those homes. 400 new houses -- 400,000 new homes are

:06:53. > :06:56.being built and starter homes for first-time buyers. I launched the

:06:57. > :07:00.new lifetime icer said people know of longer have to choose between

:07:01. > :07:06.saving for a home and saving for their retirement. We support the

:07:07. > :07:12.aspirations of people to buy their own home and pass their home on to

:07:13. > :07:19.their children. Following the promises of an extra 90 million from

:07:20. > :07:27.the Treasury to help make it a reality, what other means is he

:07:28. > :07:31.using to encourage house-building for first-time buyers? We are

:07:32. > :07:34.supporting the community she ably represented in parliament and we are

:07:35. > :07:41.able to provide money for the upgrade of the M40 junction and

:07:42. > :07:45.school to go with the new homes being built in Bicester. It comes as

:07:46. > :07:51.a sweep where we are investing in new starter homes, investing in

:07:52. > :07:55.shared equity products the people. Our help to buy ISA has been helped

:07:56. > :07:59.by hundreds of thousands of people and it will help young people. All

:08:00. > :08:04.things we are doing to make sure this is a homeowning democracy.

:08:05. > :08:10.There was a problem because the OBE are say about lifetime ISA's that

:08:11. > :08:16.they will increase house prices because they will increase demand

:08:17. > :08:20.with relatively restricted supply. Is he confident that his measures to

:08:21. > :08:27.increase the supply of housing will mean the OBE are is able to revise

:08:28. > :08:31.that analysis? I agree. It is vital we don't just tell people afford

:08:32. > :08:35.homes, particularly young first-time buyers, but we build more homes.

:08:36. > :08:41.That is the plan we set out in the Spending Review. A big priority was

:08:42. > :08:44.the billions we are going to be spending on building homes. Much

:08:45. > :08:52.more than was spent in the last Labour Government. How is having net

:08:53. > :08:59.migration of additional 3 million people going to help first-time

:09:00. > :09:03.buyers find a home? We have the products to help first-time buyers

:09:04. > :09:06.in this country afford housing but I make this observation on migration.

:09:07. > :09:11.You cannot have access to the single market without accepting free

:09:12. > :09:18.movement of people. It is absolutely clear principle that has made very

:09:19. > :09:21.clear to this country by Germany and France and is internationally

:09:22. > :09:28.accepted. If you want access to the single market, you have to accept

:09:29. > :09:33.free movement of people. Will the Chancellor confirmed that the number

:09:34. > :09:43.of under 35 is who own the own home has fallen by a fifth since he came

:09:44. > :09:52.into office? And that -- first-time buyers are up 57%. In the last

:09:53. > :09:55.Government, they fell by 50%. Perhaps the Chancellor will be

:09:56. > :10:04.heaven for the first time that under 35s would have -- who own their

:10:05. > :10:08.homes has fallen. The number of affordable homes available to buy

:10:09. > :10:13.has halved since 2010. Private rental prices rose 26% in the year

:10:14. > :10:18.to February with incomes failing to keep pace. In September the

:10:19. > :10:23.Government spoke of a national crusade to get 1 million homes built

:10:24. > :10:36.by 2020. In November this was more than halved. Shelter says the policy

:10:37. > :10:42.takes away homes that people can afford. Because of the housing

:10:43. > :10:49.crisis with young people aspiring to own a home of the hardest hit. The

:10:50. > :10:53.number first-time buyers is up by 57% under this Government. I made

:10:54. > :10:57.this observation which is you can't have a strong and successful housing

:10:58. > :11:02.market and people getting on the housing ladder unless you have a

:11:03. > :11:05.strong successful economy. If we followed the prescription of the

:11:06. > :11:11.Labour front bunch where you nationalise half of the economy and

:11:12. > :11:15.impose punitive tax rates, there will be anyone being able to afford

:11:16. > :11:21.any home the country. Is another case that the lifetime ISA could

:11:22. > :11:28.raise a deposit of up to ?50,000 and lower rates a deposit for a terraced

:11:29. > :11:33.home in Norwich for ?120,000? The lifetime ISA will be a very popular

:11:34. > :11:38.and successful new saving products precisely because it doesn't require

:11:39. > :11:40.people to choose between saving for a home and saving for their

:11:41. > :11:46.retirement. They are able to do both. We are looking at ways that

:11:47. > :11:50.people can draw on their savings during their lifetime for particular

:11:51. > :11:56.emergencies or when they need bits of money like they do in the US with

:11:57. > :12:00.the 401 scheme. The lifetime ISA is going to be a radically new saving

:12:01. > :12:02.products and does what we need to do in this country which is build a

:12:03. > :12:11.savings culture. Mr Speaker, productivity in the UK

:12:12. > :12:18.has been weak since the financial crisis. As it has been in all

:12:19. > :12:24.developed countries, the government published its productivity plan

:12:25. > :12:27.fixing the foundations last year. We announced additional reductions

:12:28. > :12:31.corporation tax and business rates and gave the green light to

:12:32. > :12:39.infrastructure projects like cross rail two and high speed three. The

:12:40. > :12:44.SNP has argued the UK economy is in dire need of investment, the

:12:45. > :12:48.Chancellor though despite the productivity plan seems to persevere

:12:49. > :12:53.with policies that stifle productivity. Will the government

:12:54. > :12:58.tell me which policies they have enacted that will encourage an

:12:59. > :13:04.increase in productivity? She is right in saying there is an issue in

:13:05. > :13:08.relation to productivity, but there is an issue across all major

:13:09. > :13:16.economies, last year productivity growth was about 1%, which compares

:13:17. > :13:21.with 0.9% in the G7. For specific measures, we have established the

:13:22. > :13:25.national infrastructure commission, protected science funding and

:13:26. > :13:31.introduced a housing and planning bill, announced the apprenticeship

:13:32. > :13:36.levy that is coming in at ?100 billion infrastructure programme

:13:37. > :13:43.over the course of this Parliament. By being a member of the EU this

:13:44. > :13:51.country benefits from cross fertilisation with good ideas, the

:13:52. > :13:56.supply chain, FDI at 15% and we also benefit from the single market in

:13:57. > :14:00.terms of trade and all of that... Order. Very wide with the question.

:14:01. > :14:04.I have great respect for the honourable gentleman, it has nothing

:14:05. > :14:11.to do with the question on the paper, to which the Chief Secretary

:14:12. > :14:17.will not reply. The minister cannot hide behind all the advanced

:14:18. > :14:22.economies, we are performing worst than most, particularly France.

:14:23. > :14:31.Isn't it the lack of skills of our workers and lack of good education

:14:32. > :14:37.and will the Chancellor's silly policy on forced academisation help

:14:38. > :14:42.or hinder? We recognise there is an issue with productivity, that is why

:14:43. > :14:47.we published the productivity plan. In 2014 the UK was the fastest

:14:48. > :14:54.growing major economy. Last year we were in second place, this year we

:14:55. > :15:04.are projected to grow well. This country is doing well. The Chief

:15:05. > :15:09.Secretary agree that ?540 billion invested by foreign businesses is

:15:10. > :15:14.vital and if we left the EU the uncertainty would put that

:15:15. > :15:20.investment in jeopardy. I agree with my honourable friend, leaving the E.

:15:21. > :15:23.Would damage UK productivity. It would prevent, has the prevent to

:15:24. > :15:27.deny access or make more difficult the access to markets and

:15:28. > :15:34.investment. And it is worth noting that the UK is the No 1 EU

:15:35. > :15:40.destination for foreign direct investment, 28% of all investment in

:15:41. > :15:47.the EU and a large part is due to being an EU member. Five years in

:15:48. > :15:55.office until we had a productivity plan and what do we see,

:15:56. > :16:01.productivity was 18% below the G7. One sector which are needs help is

:16:02. > :16:05.the steel industry. It needs more capital investment to be more

:16:06. > :16:09.competitive. How much will the Government invest in steel in the

:16:10. > :16:17.next 12 months to improve productivity and save British jobs?

:16:18. > :16:22.Well, in terms of productivity, he mentioned the 18% figure, I refer to

:16:23. > :16:28.an answer where I said there has been an issue in the UK and that

:16:29. > :16:33.figure was 17% in the 90s. In terms of steel, what the action that we

:16:34. > :16:38.have taken on steel, we have secured state aid to compensate for energy

:16:39. > :16:43.costs and secured flexibility of emissions regulations and made the

:16:44. > :16:49.procurement rules can allow social factors and we tackle unfair trading

:16:50. > :16:57.practices. The Government has been very active on steel. Question No 4.

:16:58. > :17:01.I would like to answer this we with questions five, seven and 12. The

:17:02. > :17:06.Government is leading the fight against tax evasion and it was

:17:07. > :17:10.Britain that first demanded that multinationals publish where they

:17:11. > :17:15.pay tax country by country. This has now been taken up at a European

:17:16. > :17:21.level, multinationals selling into Europe will be required to report

:17:22. > :17:25.the taxpay they and Britain has allies to agree to share information

:17:26. > :17:29.on the beneficial ownership of companies and we are now seeking

:17:30. > :17:34.international leadership on a blacklist of tax havens with

:17:35. > :17:38.punitive actions against those on that list. We want the rest of the

:17:39. > :17:47.world to follow our example, where we lead others should follow. Thank

:17:48. > :17:53.you. Conservative MEPs have voted six times on instruction from the

:17:54. > :18:02.Treasury to block measures against tax avoidance. What action will the

:18:03. > :18:08.Chancellor take to get all crown dependency to publish ownership? At

:18:09. > :18:12.a European level, we have now got agreement to make sure that

:18:13. > :18:18.multinational, or getting agreement that multinationals should disclose

:18:19. > :18:24.where they pay tax, including in ultralow jurisdictions. We have

:18:25. > :18:30.agreed with our European allies that we will exchange information. For

:18:31. > :18:36.public registries, we are one of the few countries in the world that has

:18:37. > :18:39.committed to a public register. But we want all jurisdictions, all the

:18:40. > :18:48.other advanced economies to follow our lead. Last month I tabled a

:18:49. > :18:53.question about the tax gaps as a result of individuals using overseas

:18:54. > :18:57.territories, all seven questions were grouped into one answer, which

:18:58. > :19:05.said we have no idea. Now the Government has been shamed into

:19:06. > :19:10.action, will it rectify the situation where it has no idea how

:19:11. > :19:15.much is lost and wouldn't a public register help? We publish more

:19:16. > :19:21.detail on the tax gap than any government before us and we have

:19:22. > :19:25.shown that the gap is at its lowest in our history and we have collected

:19:26. > :19:34.?26 billion more than was collected by Labour in extra come plyians. Tax

:19:35. > :19:38.havens are a symptom of a wider problem that the wrong #1r578s are

:19:39. > :19:44.at the heart of the -- values at the heart of our financial system. There

:19:45. > :19:49.is too great a disconnection between the real economy and our society.

:19:50. > :19:53.Eight years on from the crisis, what is the Chancellor assessment of how

:19:54. > :19:57.much has changed for the better? That is a perfectly reasonable

:19:58. > :20:02.question and well put. A huge amount has changed and there is much

:20:03. > :20:06.tougher regulation, we have got better regulators and banks are more

:20:07. > :20:11.on the case of bad action in their areas. But it is true that more

:20:12. > :20:15.needs to be done to create a proper culture in the banking system, where

:20:16. > :20:20.they treat customers fairly and seek to do the right thing. That is

:20:21. > :20:25.happening and of course the banks that do it will get rewarded from

:20:26. > :20:28.their customer Mires. But the industry is like other professions

:20:29. > :20:35.seeking to improve its standards of conduct. The Chancellor will be

:20:36. > :20:39.aware that the reporting requirements for private companies

:20:40. > :20:42.are less stringent than those for publicly listed companies and while

:20:43. > :20:46.the register of beneficial ownership is an improvement, we need to know

:20:47. > :20:51.not just who owns a particular company, but how much tax they are

:20:52. > :20:54.actually avoiding. So if a company gets away with not publishing

:20:55. > :21:00.income, turn over or profit, that won't do. What steps will he take

:21:01. > :21:05.with our over seas territory tos to ensure this is rectified? All

:21:06. > :21:10.companies have to pay their correct taxes and we have taken action to

:21:11. > :21:14.ensure that. But the country by country reporting is designed so

:21:15. > :21:19.that people can see with multinational businesses where

:21:20. > :21:23.they're paying tax. Recent information sharing agreement which

:21:24. > :21:26.the Chancellor referred to, could be a significant step in the fight

:21:27. > :21:32.against tax evasion and I support him. The public are right to be

:21:33. > :21:38.upset when business don't pay their fair share. Evasion needs to be

:21:39. > :21:42.regular rowsly pursued. But doesn't the Chancellor agree when that is

:21:43. > :21:52.caused by tax avoidance, it is the job of Government to simplify the

:21:53. > :21:59.tax code and close the loopholes. I broadly a agree, I welcome the

:22:00. > :22:04.welcome he gives to agreement with other countries on beneficial

:22:05. > :22:08.ownership. Hopefully that will set an example. On tax avoidance, it is

:22:09. > :22:13.the responsibility of the House of Commons and the Government to try

:22:14. > :22:19.and make sure that tax code and the tax law is simple and does what it

:22:20. > :22:25.is intended, but of course we are in a constant race against highly paid

:22:26. > :22:29.accountancy firms who design contrived systems to avoid tax and

:22:30. > :22:34.avoid the intention of Parliament. I have made this point, there has been

:22:35. > :22:38.a significant development, where the Supreme Court takes into account the

:22:39. > :22:44.intention of Parliament as well as the letter of the law and I think

:22:45. > :22:49.that is right. Because it is sometimes an arms race when it comes

:22:50. > :22:52.to tax code and Parliament should be taken into account the wishes of

:22:53. > :22:55.Parliament should be taken into account by the courts. Can I

:22:56. > :23:01.congratulate my honourable friend on the agreement he has reached, isn't

:23:02. > :23:09.it right HMRC employs 26,000 investigators who work to stop tax

:23:10. > :23:14.evasion and they have brought more than ?2 billion from off shore tax

:23:15. > :23:21.avoiders. Isn't it right and would my honourable friend agree, that we

:23:22. > :23:25.can congratulate HMRC for doing the good job they're doing and thank

:23:26. > :23:29.them for their work and anyone who criticises them is just plain wrong.

:23:30. > :23:35.My honourable friend is right I think to highlight the good work

:23:36. > :23:42.that HMRC do it is never popular being a tax collector. But I think

:23:43. > :23:46.they're doing a good job and we are putting more resources in so they

:23:47. > :23:50.can target wealthy individuals who are evading tax, but we do have

:23:51. > :23:57.26,000 people employed by the Government to make sure that people

:23:58. > :24:01.comply with the tax laws. I congratulate the work of the

:24:02. > :24:06.Chancellor, but does he recognise that a low tax economy will attract

:24:07. > :24:11.wealthy people from all over the world to invest and create jobs and

:24:12. > :24:21.pay more tax and the they draw more tax in the end? I agree, that is

:24:22. > :24:27.what we Conservatives believe in. That is the right approach and we

:24:28. > :24:33.have reduced corporation tax and income tax and of course when we cut

:24:34. > :24:48.the top rate of tax we collected more income. Thank you. With the tax

:24:49. > :24:52.gap... With the tax gap now at its lowest level on record, does the

:24:53. > :24:59.Chancellor agree this Government has done more to ensure the taxes that

:25:00. > :25:03.ar owe rd paid than the last Labour government achieved? My honourable

:25:04. > :25:11.friend, who is an excellent member of Parliament in the west of

:25:12. > :25:13.England, well what... My honourable friend is right, of course you get

:25:14. > :25:18.these suggestions from the Labour Party about what we should do to the

:25:19. > :25:22.tax, they were in office for 13 years and they had Treasury

:25:23. > :25:26.ministers answering questions for 13 years, not a single one of these

:25:27. > :25:32.things happened when they were in charge and no one believes if they

:25:33. > :25:39.were back in charge they would be tough and take action. Can we bring

:25:40. > :25:42.it back to today, in the Panama revelations about the behaviour of

:25:43. > :25:50.offshore companies the Chancellor could not fail to notice key role

:25:51. > :25:58.played in many deals by UK head quartered banks and intermediaries.

:25:59. > :26:02.HSBC created more off shore companies through Mossack Fonseca

:26:03. > :26:08.than any other bank. Will he support the new clause tabled by the Labour

:26:09. > :26:12.Party to the Bank of England bill, requiring British institutions to

:26:13. > :26:17.record the true owners of any companies or trusts whom they work

:26:18. > :26:20.for, and will he welcome the proposals by my honourable friend

:26:21. > :26:25.for a register of the beneficial owners of property in the UK, to

:26:26. > :26:33.tackle money laundering, often linked to tax evasion? Well, first,

:26:34. > :26:36.can I say we are introducing a beneficial register of the

:26:37. > :26:42.beneficial ownership of companies and trusts that need to pay tax. And

:26:43. > :26:48.of course, therefore, banks must comply. And we will introduce a new

:26:49. > :26:53.criminal offence for the facilitating tax evasion. And so

:26:54. > :26:58.that will apply to the corporate sector as well. So there is a new

:26:59. > :27:03.criminal offence to facilitate tax evasion and the criminal offence

:27:04. > :27:06.that says ignorance is no defence when you have been found to be

:27:07. > :27:23.evading taxes. Tax havens can lead to loss of

:27:24. > :27:29.revenue. Can I ask the Chancellor, given the relevant -- revelations,

:27:30. > :27:38.has the Treasury carried out a new assessment to look at the scale and

:27:39. > :27:46.size of the revenue lost to the UK? There are already a large number of

:27:47. > :27:53.ongoing investigations which may well lead to prosecutions in respect

:27:54. > :27:59.of Panama. The revenue and the Government already had data on this.

:28:00. > :28:06.If there is additional information is available in the Panama papers

:28:07. > :28:09.and despite requests the media have not handed this information to us

:28:10. > :28:14.yet, if there is additional information we will act on it. I

:28:15. > :28:25.asked the Chancellor to go much further? They are the biggest firm

:28:26. > :28:29.in Panama. There will be many others in different countries. The scale

:28:30. > :28:35.and scope of this is likely to be astronomical. I think the Chancellor

:28:36. > :28:38.and the Government need to go further. We need to have a much

:28:39. > :28:44.clearer understanding of the scale of this. Can I ask him to make all

:28:45. > :28:50.the representations he came to the Panama authorities and other

:28:51. > :28:54.jurisdictions where other similar activities are taking place?

:28:55. > :28:59.Representations are not going to be enough. That is why we want

:29:00. > :29:04.international agreement to a blacklist where jurisdictions go on

:29:05. > :29:09.that blacklist if they don't comply with the norms we are establishing

:29:10. > :29:16.on transparency and once they are on the blacklist, they are subject to

:29:17. > :29:20.penalties, punitive action, sanctions so that it is clear that

:29:21. > :29:24.they can't carry on in the way they have been doing business. If the

:29:25. > :29:32.whole world comes around that and there was welcome support for the

:29:33. > :29:40.concept, if we get that blacklist and that punitive action, we will

:29:41. > :29:44.help solve this problem. With your permission I would like to answer

:29:45. > :29:47.this question along with question number 13. Corporation tax cuts have

:29:48. > :29:56.been an essential part of the economics travesty. -- strategy.

:29:57. > :30:00.Further cuts to the main rate announced our budget to 17% in 2020

:30:01. > :30:05.will benefit over 1 million companies large and small, low

:30:06. > :30:10.corporation tax will support UK companies to invest and grow and

:30:11. > :30:13.create jobs as they do so. One of the justifications for the

:30:14. > :30:19.corporation tax cut was businesses would pass on that tax cut to the

:30:20. > :30:24.increase in the living rage -- wage. Now they tend to pocket the tax cut

:30:25. > :30:28.and squeeze the conditions, what steps is the Government taking to

:30:29. > :30:33.monitor that? The cuts in corporation tax will result in

:30:34. > :30:38.greater investment in this country, productivity growth is what will

:30:39. > :30:42.drive a higher living standards. Let us remember it is this Government

:30:43. > :30:45.that has brought in the national living wage and it is seeing very

:30:46. > :30:52.large numbers of people seeing increase their wages and salaries.

:30:53. > :30:57.Due to changes in personal independence changes, disabilities

:30:58. > :31:04.are set to lose ?1 billion as the same time as corporation taxes being

:31:05. > :31:09.cut. Is he comfortable with Pareto lose -- with prioritising big

:31:10. > :31:13.business over disabled people? Let me make this point to the House and

:31:14. > :31:17.to the honourable gentleman. The way this country is going to be

:31:18. > :31:20.prosperous and can afford public services and afford support for the

:31:21. > :31:24.most vulnerable is by a strong growing economy. Competitive

:31:25. > :31:32.business taxes help us have that strong growing economy. Is my right

:31:33. > :31:35.honourable friend aware that the Federation of Small Businesses has

:31:36. > :31:39.said the decision to further low corporation tax to 70% is an

:31:40. > :31:44.important statement of intent and will provide a boost to firms. Will

:31:45. > :31:50.it further underpin the enterprising economy that we need? I agree with

:31:51. > :31:54.my honourable friend and he is right to highlight the Commons. Reductions

:31:55. > :31:58.in corporation tax will help small businesses and large businesses and

:31:59. > :32:04.help drive a competitive and dynamic economy. Can he agree that it is

:32:05. > :32:08.easy to trot out phrases like tax cuts that companies but it is vital

:32:09. > :32:13.we have low corporation tax to attract investment in this country

:32:14. > :32:16.and ensure we have jobs there and that the Chancellor has repetitively

:32:17. > :32:21.encouraged companies to pass on tax cuts to workers where they should

:32:22. > :32:27.go. He is absolutely right to highlight that point. All taxes are

:32:28. > :32:32.ultimately paid by people in the end. Business taxes which discourage

:32:33. > :32:36.investment discourages the economic growth we need in this country and

:32:37. > :32:46.that growth is what this Government is determined to deliver. A general

:32:47. > :32:51.anti-avoidance rule was considered by an independent study group. The

:32:52. > :32:56.group of men -- the group recommended an anti-abuse will

:32:57. > :33:02.because they felt strongly it would strengthen and comp at existing

:33:03. > :33:06.tools available to HMRC. The Government introduced the wall in

:33:07. > :33:11.2013 striking the right balance between protection against avoidance

:33:12. > :33:16.and certainty for taxpayers. I thank the Minister but one way to put an

:33:17. > :33:21.end to aggressive tax avoidance is through a general principle,

:33:22. > :33:25.principle not a rule. There is a difference. You can find a way

:33:26. > :33:29.around a rule but a principle isn't an easy matter to do that. Will the

:33:30. > :33:33.Government back up their public statements about tackling aggressive

:33:34. > :33:38.tax avoidance and legislate for a general principle of tax avoidance?

:33:39. > :33:42.I will remind the honourable gentleman that the last Labour

:33:43. > :33:46.Government balked at this issue and declined a general anti-abuse roll

:33:47. > :33:53.or an anti-abuse principle because of fears and cert -- uncertainty.

:33:54. > :33:56.Alongside the introduction of the anti-abuse rule we brought in

:33:57. > :34:02.measures to deal with accelerated payments, measures to deal with

:34:03. > :34:06.promoters, we have closed 40 tax loopholes and announced 25 in this

:34:07. > :34:14.Parliament already. It is worth pointing out that avoidance is

:34:15. > :34:18.coming down. We announced at the budget and extensive package for the

:34:19. > :34:23.south-west that covers both rail and road. A new marine hub enterprise

:34:24. > :34:28.zone in Cornwall, a ?4.5 million boost for ultrafast broadband across

:34:29. > :34:31.the region and a 900 million devolution deal with the West of

:34:32. > :34:34.England. The South West will also benefit from income tax cuts and

:34:35. > :34:40.business rate reductions announced on the budget. One item that went

:34:41. > :34:45.largely unnoticed in the budget was the ?90 million for community land

:34:46. > :34:49.trust in the south-west to mitigate the impact on second home ownership.

:34:50. > :34:54.How will that money be allocated and will he work with me and fellow

:34:55. > :34:58.Conservative MPs in the south-west to ensure that money is put aside

:34:59. > :35:04.for people to purchase plots and help working people get on? He is

:35:05. > :35:07.right that we will be releasing 90 million for community led housing in

:35:08. > :35:12.the south-west and I look forward to discussing with him how we might

:35:13. > :35:17.best do that. We are introducing a new right to build and reforms to

:35:18. > :35:23.planning which will also boost the custom build sector in Cornwall and

:35:24. > :35:27.beyond. What my right honourable friend agree with me that the past

:35:28. > :35:31.Labour Government under funded infrastructure projects in the

:35:32. > :35:34.south-west resulting in lower productivity from this region and

:35:35. > :35:38.hence less of a contribution to the national economy then we should have

:35:39. > :35:43.had? It is this Government which is turning this around with its huge

:35:44. > :35:50.?7.6 billion commitment to infrastructure and connectivity. He

:35:51. > :35:56.has two focus on what this Government is doing. I welcome the

:35:57. > :35:59.opportunity to say something about what this Government is doing in

:36:00. > :36:03.relation to infrastructure in the south-west. We have 35 projects in

:36:04. > :36:11.the infrastructure pipeline in south-west with a value of billion.

:36:12. > :36:15.We announced improvements to exodus and David station,

:36:16. > :36:20.Weston-Super-Mare, community housing and also a fund for more roads and

:36:21. > :36:31.better roads in their south-west as well. We are continuing our support

:36:32. > :36:35.the solar keeping the small-scale feed in tariffs open beyond January

:36:36. > :36:42.20 16th setting tariffs on a path to help transition the industry to a

:36:43. > :36:47.sustainable subsidy for the future. Given the EU's reformed action plan

:36:48. > :36:54.will give Government discretion in applying rates of VAT including on

:36:55. > :36:57.solar power, will he today confirm categorically to solar installation

:36:58. > :37:03.at the UK has officially and permanently dropped the proposal to

:37:04. > :37:08.hike seven of VAT to 20%? The reduced rate of VAT remains in place

:37:09. > :37:11.on all 11 of the 11 categories in which it was in place on

:37:12. > :37:16.energy-saving materials before. Following a decision by the European

:37:17. > :37:20.Court we have been consulting with parties on this issue and given the

:37:21. > :37:28.complexities, we are still considering those responses. Will he

:37:29. > :37:32.agree that about 90% or more of the solar energy available in Britain

:37:33. > :37:36.has been put in place under this Government and does he agree with me

:37:37. > :37:41.that for us to have intermittent renewable power used as a steady

:37:42. > :37:49.caseload, the investment the Government is supporting in that we

:37:50. > :37:59.technology is key? He is right on multiple counts. Solar has been a

:38:00. > :38:03.British success story. He is also correct that the development of

:38:04. > :38:05.battery technology is incredibly important for the future development

:38:06. > :38:13.of this technology here and elsewhere. I welcome the

:38:14. > :38:17.environmental audit committee's report that found that membership of

:38:18. > :38:21.the European Union has been overwhelmingly positive for the UK's

:38:22. > :38:27.environment. He will be aware our committee is conducting an enquiry

:38:28. > :38:33.into the Treasury's approach to sustainable environment and can he

:38:34. > :38:39.encouraged -- encourage the chance to look at the approach to solar

:38:40. > :38:44.power offshore wind, waste and recycling policies? I look forward

:38:45. > :38:47.to reading her committee's report. The Treasury takes a balanced

:38:48. > :38:52.approach making sure we stay on target to meet our commitments and

:38:53. > :38:57.we are on target to meet our commitment of 15% renewable energy

:38:58. > :39:02.by 2020 but we must do so in a golf -- in a cost effective way and make

:39:03. > :39:06.sure the substance can only be paid for by taxpayers. When the minister

:39:07. > :39:10.join me in congratulating the UK solar power industry for being one

:39:11. > :39:12.of the top ten in the world? Larger than Australia and smaller than

:39:13. > :39:23.Spain despite a rather less advantageous climate? Under labour

:39:24. > :39:26.we had the highest dependency on fossil fuels in the G8 and the

:39:27. > :39:32.lowest contribution from renewable energy of a net -- of any major

:39:33. > :39:37.country. The deportment -- the deployment of solar power has been a

:39:38. > :39:41.great success story. One of the big things that this Government can do

:39:42. > :39:51.to help solar is when it comes to storage not to double charge when it

:39:52. > :40:01.is getting a put back into the grid. A stroke of a pen would make a huge

:40:02. > :40:04.difference. Bit tariffs are designed to make sure there is a reasonable

:40:05. > :40:10.and appropriate return that goes to investors. They have to be adjusted

:40:11. > :40:13.periodically. One of the great parts of the success stories of solar is

:40:14. > :40:21.the costs have come down by two thirds since 2010. According to the

:40:22. > :40:26.solar trade association, the Government will be spending 1% of

:40:27. > :40:30.new expenditure under the levy control frameworks supporting solar

:40:31. > :40:35.power yet mainstream analysts expect solar power to dominate future

:40:36. > :40:39.energy supply. With this in mind will the Chancellor promised to do

:40:40. > :40:43.much more to ensure that Britain becomes a market leader in this

:40:44. > :40:50.industry or do week let China take the lead yet again? Britain does

:40:51. > :40:54.have a leadership position in this industry but we need a balance. We

:40:55. > :40:57.need a portfolio of energy sources and we need to recognise the

:40:58. > :41:09.importance of baseload power. That is why they -- the development in

:41:10. > :41:12.new nuclear is also important. The Government fully supports expanding

:41:13. > :41:17.the UK's trade relationship with Iran. The Treasury is actively

:41:18. > :41:20.liaising with UK banks and industry bodies to understand concerns and

:41:21. > :41:28.help re-establish financial channels between the UK and Iran. Despite the

:41:29. > :41:31.improvements relations between the British and Iranian governments

:41:32. > :41:36.coming UK businesses still face significant barriers to complete a

:41:37. > :41:40.legitimate banking transactions for trade purposes. But the minister

:41:41. > :41:43.look at what more can be done to help facilitate financial

:41:44. > :41:46.transactions between the UK and Iranian banks so that UK economy can

:41:47. > :41:59.benefit from this new market? It is challenging in terms of the

:42:00. > :42:03.payment channels because of payment channels, because the US still has

:42:04. > :42:10.sanctions in place. We have been speaking to banks and liaising with

:42:11. > :42:15.the US authorities to push for clarity for UK banks, some banks

:42:16. > :42:22.have a more extensive US business than others and it might be worth

:42:23. > :42:26.companies in her constituency and elsewhere to consider switching

:42:27. > :42:31.banks with less exposure in the United States. Given the

:42:32. > :42:37.opportunities for British businesses in Iran as a result of relaxation of

:42:38. > :42:44.sanctions, could the Treasury have a word with our friends the Americans

:42:45. > :42:49.to make sure that they don't use their banking regulations to seek to

:42:50. > :42:53.prevent some of the commercial deals which may flow to British companies

:42:54. > :42:59.as a result of the relaxation of sanctions? My honourable friend is

:43:00. > :43:04.right to highlight one of the key issues here and I can assure him

:43:05. > :43:10.that we are working at all levels in terms of discussions with the US

:43:11. > :43:16.authorities in terms of how we can ensure that British companies

:43:17. > :43:29.selling to Iran are able to put that money into UK bank accounts.

:43:30. > :43:35.Question 14. It is export week and I can announce that UK export fms has

:43:36. > :43:42.provided over ?15 billion of support to exporters since 2010 and UK TI

:43:43. > :43:48.has more than doubled the number of businesses it helps to over 54,000.

:43:49. > :43:53.The UK industrial production and manufacturing output suffered falls

:43:54. > :44:04.in February and remained well below the levels of 2008 and the ONS

:44:05. > :44:11.reported that house prices in London had reached 524,000. Out of reach to

:44:12. > :44:17.all but those on six figure salaries or those who benefitted from

:44:18. > :44:25.inheritance. One of my constituents is going to see the Britain and the

:44:26. > :44:30.economy rebalanced to the north of England like was promised? I would

:44:31. > :44:35.like to encourage the honourable lady to seek an adjournment debate

:44:36. > :44:42.to elaborate on her question. She will welcome the fact and her

:44:43. > :44:47.constituency will welcome that employment in the north-west is at

:44:48. > :44:53.the highest level on record and over 89,000 businesses in the north-west

:44:54. > :44:59.will not be paying business rates and that 360,000 in the north-west

:45:00. > :45:06.will benefit from the living wage. Thank you, British exports to China

:45:07. > :45:12.have more than doubled since 2010, led by manufacturing, will the

:45:13. > :45:16.minister congratulate those businesses and encourage others to

:45:17. > :45:23.follow their lead? It is wonderful to hear during export week about the

:45:24. > :45:29.work Eck porting -- exporting. It is a priority of the government to

:45:30. > :45:33.continues to encourage more firms to export and we aim to have another

:45:34. > :45:39.100,000 businesses export over the life of this Parliament. The current

:45:40. > :45:46.account deficit is at a post war high of more than 35% of GDP. 44% of

:45:47. > :45:51.our exports go to EU, it took Canada seven years to negotiate a free

:45:52. > :45:54.trade agreement with the EU, would the minister agree that the last

:45:55. > :45:59.thing that exporters need and the last thing that the one in ten jobs

:46:00. > :46:06.that depends on exports to the EU need is the uncertainty that this

:46:07. > :46:10.referendum is bringing and that Brexit would bring? Last time I

:46:11. > :46:15.looked I thought it was Labour policy to have this referendum. But

:46:16. > :46:19.I do agree with the honourable lady it is important that she and others

:46:20. > :46:23.get out the message of the importance to exports and

:46:24. > :46:28.manufacturing of the UK's membership of the single market and I shall be

:46:29. > :46:36.voting in the same way as her on 23rd June. Topical questions.

:46:37. > :46:48.Question No 1. The core purpose is to ensure stability and prosperity

:46:49. > :46:53.of the economy. The inno have ative claims organisation has received a

:46:54. > :46:59.gold investor in people award and began in a bedroom a few years ago

:47:00. > :47:04.and now employs 300 people, would my honourable friend agree that not

:47:05. > :47:09.only is Taunton Dean an excellent place to do business, but the whole

:47:10. > :47:12.of the wider South West thanks to the infrastructure and connectivity

:47:13. > :47:20.injection this Government is giving it? Well, let me join her in

:47:21. > :47:24.congratulating the group on this award and I'm glad they're being

:47:25. > :47:28.recognised. She is right that Taunton and the whole of South West

:47:29. > :47:32.is a great place to do business. We are investing huge sums in the roads

:47:33. > :47:37.and railways, broad band and housing. Without her I don't think

:47:38. > :47:42.we would be having the upgrade of the roads and there is a lesson when

:47:43. > :47:53.the South West votes blue, the voice of the South West is heard in

:47:54. > :47:57.Parliament. Isn't just over tax that people are concerned about the

:47:58. > :48:03.behaviour of the superrich. Will the Chancellor welcome the action taken

:48:04. > :48:15.by shareholders at BP against excessive pay awards. The chief

:48:16. > :48:22.executives pay at FTSE 100 companies has risen to 150 time that of

:48:23. > :48:28.employees. Will he tackle the renumeration bracket where an old

:48:29. > :48:35.boys network seems to operate and will he support the widening of

:48:36. > :48:41.shareholder and employee representation on committees? It is

:48:42. > :48:46.right that companies and the shareholders who own them think

:48:47. > :48:50.about their pay policy, act responsibly and don't pay excessive

:48:51. > :48:54.amounts to chief executives who don't deserve it. It is this

:48:55. > :48:58.government that introduced those shareholders votes. They didn't

:48:59. > :49:02.exist under previous Labour governments. So I'm glad that

:49:03. > :49:06.shareholders are using the opportunity we have given them. I

:49:07. > :49:10.don't think if what he is hinting at we should put trade unions on

:49:11. > :49:13.company boards, but I do agree that we should make sure that

:49:14. > :49:18.shareholders use all the tools available to them. Would the

:49:19. > :49:27.Chancellor update the House on discussions we has had for a city

:49:28. > :49:36.deal for Swansea bay and what he can do to help jobs in south west Wales.

:49:37. > :49:41.First, we are now in conversation with Swansea about what we can do

:49:42. > :49:49.for the city deal and we are aware we need to help the steel workers in

:49:50. > :49:55.Port Talbot and we are working to sell the site and helping those who

:49:56. > :49:59.have been made redundant and we are looking at the Tidal Bay scheme and

:50:00. > :50:08.whether we can make that fly as well. Announcements by the House of

:50:09. > :50:12.Commons library shows that cumulatively 86% of savings between

:50:13. > :50:20.2010 and 20 will have come from women's pockets. What has the

:50:21. > :50:25.Chancellor got against women? The analysis from the House of Commons

:50:26. > :50:30.library is fundamentally flawed. First of all it assumes that every

:50:31. > :50:37.pound of government borrowing benefits people. And it also doesn't

:50:38. > :50:41.highlight the fact that it is higher rate taxpaying women like myself who

:50:42. > :50:48.have had their child benefit ended, who form the largest part of that.

:50:49. > :50:56.Is she arguing that her party want to reinstate child benefit for

:50:57. > :51:00.higher late taxpayers? Last year I held a business breakfast where, the

:51:01. > :51:04.level of business rate was the biggest issue. My constituents are

:51:05. > :51:08.delighted with the Chancellor's doubling of small business rate

:51:09. > :51:13.relief. Could my honourable friend said what else the Government can do

:51:14. > :51:18.to support small businesses to ensure they invest for growth? Small

:51:19. > :51:23.businesses are fundamental to the economy and to job creation. That is

:51:24. > :51:27.why we had such a big package to help ease the burden of business

:51:28. > :51:36.rates and reduced corporation tax, which is paid by small companies in

:51:37. > :51:40.profit and it is the case that we have increased the investment amount

:51:41. > :51:43.and to help them with the brd of national living wage, we have

:51:44. > :51:49.increased the employment allowance to employ four people on the the

:51:50. > :51:55.national living wage and pay no national insurance. The papers

:51:56. > :52:01.unearthed revelations, with the relationship between tax and

:52:02. > :52:06.landownership. What steps is the government taking to ensure

:52:07. > :52:12.transparency of landownership across the UK? This Government is bringing

:52:13. > :52:17.in a register so we will know the beneficial ownership of people who

:52:18. > :52:21.hold property or structures of old property in the country. That is

:52:22. > :52:25.something we have not had before and we are making progress. At the

:52:26. > :52:34.budget the Chancellor outlined measures to bring in around ?12

:52:35. > :52:38.billion from measures against tax avoidance, from the measures since,

:52:39. > :52:46.what more does he expect to bring in? The OBR assesses and puts on the

:52:47. > :52:51.score card the estimated revenue we will raise, it is around and extra

:52:52. > :52:57.billion a year from the measures in the budget and in last year's budget

:52:58. > :53:05.we had ?5 billion worth of measures to raise money from clamping down on

:53:06. > :53:13.aggressive tax avoidance. But the fight continues. Following reports

:53:14. > :53:18.in this morning's daily mail that energy firms overcharged customers,

:53:19. > :53:24.does the Chancellor agree that Treasury cuts for building new

:53:25. > :53:33.renewable energy was another bad idea? Well, as we covered, the

:53:34. > :53:39.tariff system which is in place to encourage renewable energy has to

:53:40. > :53:50.deliver a balanced portfolio of energy. We encourage firms to pass

:53:51. > :53:55.on price cuts to customers. All 31 local firms who reached the final of

:53:56. > :53:59.the small business award will benefit from the corporation tax cut

:54:00. > :54:06.and will the Government support small businesses across the country.

:54:07. > :54:09.I join my honourable friend who is a voice for that area and

:54:10. > :54:13.congratulating the businesses in the area. We are helping them with

:54:14. > :54:19.improvements to roads and infrastructure in the area.

:54:20. > :54:24.Ministers will have heard concerns of small businesses about the

:54:25. > :54:33.changes to quarterly tax returns, what are they doing that this is in

:54:34. > :54:38.place to monitor that and ensure it does not become burdensome to small

:54:39. > :54:42.businesses. Let me be clear that we are not talking about quarterly tax

:54:43. > :54:46.returns, this is about reporting and not about doing a full return and

:54:47. > :54:50.the purpose of the changes is to reduce the burden on businesses.

:54:51. > :54:54.This will start to be introduced in 2018, I hope that we will be setting

:54:55. > :54:58.out fourth information about the plans in the coming weeks. But the

:54:59. > :55:02.intention is to ensure that we reduce the tax gap, but also help

:55:03. > :55:11.businesses comply with the tax system. I would like to thank the

:55:12. > :55:17.Chancellor for their good humour in dealing with with me. I will move a

:55:18. > :55:24.new clause to the Bank of England Bill. Will the government accept now

:55:25. > :55:28.clause 9? It is right that betake action against money laundering and

:55:29. > :55:33.that needs to be done internationally. We should focus our

:55:34. > :55:37.resources and the force of law where the risks are greatest. I have been

:55:38. > :55:46.concerned that the banks are at risk of going too far and being

:55:47. > :55:52.disproportion Nate. And I have written to the chief executives of

:55:53. > :55:56.banks, but my honourable friend has worked with us and tabled an

:55:57. > :56:05.amendment and we are happy to accept that amendment, because we are

:56:06. > :56:10.trying to achieve the same goal. The Public Accounts Committee report

:56:11. > :56:15.highlight of the ?16 billion of the tax gap that is tax fraud, the money

:56:16. > :56:20.brought into the Treasury for that stayed static at 3% of total tax

:56:21. > :56:26.liabilities. Does he think that there is more to be done here and

:56:27. > :56:30.given the 35 individuals being investigated would increase to 100

:56:31. > :56:32.by 2020, does that demonstrate there is a combap of opportunity that the

:56:33. > :56:46.Chancellor has missed? We are taking strong action on tax

:56:47. > :56:52.evasion is. There is 90 investigations in terms of offshore

:56:53. > :56:55.tax evasion ongoing the moment. We announced last summer and additional

:56:56. > :57:02.?800 million going into HMRC to support the activity that they are

:57:03. > :57:06.undertaking. We are getting access to the common reporting standard and

:57:07. > :57:16.registers of beneficial interest much more information that we can

:57:17. > :57:24.take on. Many have gone out of the Chamber and there is a lack of

:57:25. > :57:27.stamina. I welcome the funding consultation and I want as the

:57:28. > :57:31.Chancellor when taking into account the figures for the growth in people

:57:32. > :57:34.numbers will he be taking into account the actual numbers for the

:57:35. > :57:40.new school year is not the previous school year to ensure we have a

:57:41. > :57:44.truly fair formula? The National funding formula will look at

:57:45. > :57:51.historical unfairness. School budgets will be set on the pupil

:57:52. > :57:56.sensors giving schools the certainty they need. The consultation also

:57:57. > :57:59.proposes to include a new factor to recognise in year growth targeting

:58:00. > :58:05.funding to schools with significant increases in pupil numbers. Nobody

:58:06. > :58:14.has accused me of lack of stamina yet but am I right and accurate in

:58:15. > :58:19.my assessment that Labour funds can only -- can only be used for

:58:20. > :58:23.charitable purposes and not to Government departments? I think the

:58:24. > :58:28.question is in relation about the air ambulance Northern Ireland. We

:58:29. > :58:32.are working with both the charity and the Northern Ireland executive

:58:33. > :58:39.in terms of how the funds are delivered. They will be going to the

:58:40. > :58:45.air ambulance charity and I know he welcomed this. In his document

:58:46. > :58:48.published yesterday, the Chancellor pose the question, is a national

:58:49. > :58:53.security best served by retreating from the world? I hope he's not

:58:54. > :58:57.foolish to suggest that those that wish the UK to leave the EU was to

:58:58. > :59:03.retreat from the world because the truth is far from that. We want the

:59:04. > :59:07.UK to break free from the shackles of the EU and its superstate and

:59:08. > :59:13.embrace the exciting world out there which befits the world's fifth

:59:14. > :59:18.largest economy, a nuclear power and a permanent member of the United

:59:19. > :59:23.Nations Security Council. I respect his views and we are having a

:59:24. > :59:29.referendum and his boat and my vote count equally. Our membership of the

:59:30. > :59:33.European Union does enhance our national-security and that is a

:59:34. > :59:38.point made by the Secretary General of Nato last week. I would observe

:59:39. > :59:41.that not a single one of this country's allies or friends abroad

:59:42. > :59:51.are recommending that we leave the EU. A number of people sleeping

:59:52. > :59:55.rough on our streets -- the number of people sleeping rough on our

:59:56. > :00:02.streets has doubled. It is a shocking indictment on society as a

:00:03. > :00:07.whole. Will the Chancellor now step in and intervene in the shambles

:00:08. > :00:12.that is the Housing Bill and make sure that the support for homeless

:00:13. > :00:17.people in terms of hostels and specialist accommodation is

:00:18. > :00:23.protected? We in the budget provided over ?100 million extra to help with

:00:24. > :00:29.the problem of homelessness and the problem of rough sleeping and we

:00:30. > :00:31.have provided money for the second stage as they believe hostels to

:00:32. > :00:36.make sure they have secure accommodation to go to. I am happy

:00:37. > :00:44.to listen to further representations or ideas he and any other member

:00:45. > :00:50.has. The Treasury can't even get its forecasts on growth and the deficit

:00:51. > :00:54.correct the next year. Doesn't the Chancellor realise that instructing

:00:55. > :00:59.his officials to produce a report based on thoroughly tendentious

:01:00. > :01:05.figures about what might or might not happen in the event of Grexit,

:01:06. > :01:10.simply belittles the reputation of the Treasury for economic competence

:01:11. > :01:15.and forecasting? Why doesn't he give us his vision compared to our vision

:01:16. > :01:18.of a free people in a free parliament 's controlling our own

:01:19. > :01:25.borders and leading the world towards free trade? Are positive

:01:26. > :01:30.vision is that by being part of a reformed EU we can raise living

:01:31. > :01:36.standards, create more jobs, make sure that consumers have access to

:01:37. > :01:39.lower prices. We have set out a range of possibilities for the

:01:40. > :01:42.alternative that might happen if Britain leads the EU. All of that

:01:43. > :01:50.will make Britain permanently poorer but I would say that if he wants to

:01:51. > :01:57.produce their own plan, their own analysis, be my guest. Bass with the

:01:58. > :02:00.financial Secretary to the Treasury confirmed details obtained by Crown

:02:01. > :02:05.dependencies and overseas territories shepherd the UK will not

:02:06. > :02:09.be passed onto any tax jurisdictions. There is a real

:02:10. > :02:12.chance the UK would be complicit in tax evasion. Will the Chancellor

:02:13. > :02:20.review this to make sure taxes paid where it is due? It is the case that

:02:21. > :02:26.the Crown dependencies and David -- overseas dependencies are ensuring

:02:27. > :02:35.they have got beneficial interests. It is also the case that the UK's --

:02:36. > :02:39.the UK is cooperating with the bid jurisdictions. Public registers

:02:40. > :02:43.should be the norm but before we get that point we will look at the

:02:44. > :02:52.opportunities for those central registers and that information will

:02:53. > :02:58.be shared to jurisdictions. I remember when the charger establish

:02:59. > :03:10.the OBE are. I cannot think what could have changed. The dossier is

:03:11. > :03:15.looking to breaking the manifesto. The competitions of his new policy

:03:16. > :03:19.on mass migration in areas such as school places, housing, health and

:03:20. > :03:25.transport are not explicit in the document. Why is that? We're having

:03:26. > :03:29.a referendum and people will take different views on the prospects for

:03:30. > :03:34.the UK going forward. The public want facts and information. We have

:03:35. > :03:38.set out in the analysis produced by the Treasury what we think the

:03:39. > :03:42.likely impact on the economy will be. That analysis has been supported

:03:43. > :03:47.now by the London School of economics. It is giving a similar

:03:48. > :03:52.message to the message given by the Bank of England about the economic

:03:53. > :03:54.shock that will come if we leave and you have bodies like the

:03:55. > :03:58.International Monetary Fund and others saying a similar thing. In

:03:59. > :04:02.terms of the weight of evidence and the weight of opinion, it is clear

:04:03. > :04:06.there have been economic prices if we left the EU. Some would regard

:04:07. > :04:14.that as a price worth paying which is a respectable argument but not

:04:15. > :04:20.one I agree with. We must now move on. Statement the Secretary of State

:04:21. > :04:27.for Foreign and Commonwealth Office. Secretary Philip Hammond. With

:04:28. > :04:31.permission I would like to update the House on the current situation

:04:32. > :04:32.in Libya and what the Government is