Live Treasury Questions

:00:00. > :00:11.Good morning and welcome to BBC Parliament's live coverage of the

:00:12. > :00:15.Commons. In an hour's time, Conservative Charles Walker is

:00:16. > :00:20.asking a legend question on the Government's response to his

:00:21. > :00:27.committee's verdict on membdr's bills. And at 1pm comes the

:00:28. > :00:30.long-awaited statement from the Transport Secretary on airport

:00:31. > :00:40.expansion in the Celtic of Dngland. Lisbie Heathrow, will it be Gatwick?

:00:41. > :00:43.-- south of England. There will be exceptional freedom to crithcise the

:00:44. > :00:48.Government policy if it is for expansion of Heathrow. Todax the

:00:49. > :00:52.first debate is general deb`te on the Criminal Finances Bill. This

:00:53. > :00:56.gives more power to law enforcement agencies to seize the procedds of

:00:57. > :01:00.crime and prevent the financing of terrorism. Don't forget to join me

:01:01. > :01:08.for a round-up of the day and both houses of parliament at 11pl

:01:09. > :01:10.tonight. First, it's questions to Philip Hammond and his team of

:01:11. > :01:28.Treasury ministers. Order, order. Questions to the

:01:29. > :01:34.Chancellor of the Exchequer. Number one, Mr Speaker. Creating a economy

:01:35. > :01:39.which works were all is a kdy priority of this Government. All

:01:40. > :01:43.regions are benefiting from the 12 by the impact local growth funds,

:01:44. > :01:48.and our industrial strategy will this growth across the UK.

:01:49. > :01:54.Devolution deals will get areas the tools they need to make the right

:01:55. > :01:57.economic decisions. We're stpporting the Northern Powerhouse and Midlands

:01:58. > :02:00.Engine, and investing over ?100 billion in infrastructure over the

:02:01. > :02:06.course of this Parliament across the UK.

:02:07. > :02:09.I'm encouraged by the chartdred s reply, but there is always the

:02:10. > :02:12.feeling in Northern Lincolnshire that we are peripheral from the

:02:13. > :02:18.northern para House and there is too much focus on Leeds and Manchester.

:02:19. > :02:24.Did the Government is sure ts that we are part of the scheme, `nd that

:02:25. > :02:29.regeneration projects in progress, had the chance one of its tdam

:02:30. > :02:32.agreed to make a delegation from north Lincolnshire separates you

:02:33. > :02:36.those? I can reassure my honourabld friend

:02:37. > :02:41.that that is not the case. Northeast Lincolnshire is a much a focus of

:02:42. > :02:46.the Government's attention. We have agreed deals with the Humber Local

:02:47. > :02:50.Enterprise Partnership, with ?1 0 million. This includes support for a

:02:51. > :02:54.regeneration programme for the centre of Cleethorpes, as mx

:02:55. > :02:57.honourable friend will know. One of my ministerial team will be very

:02:58. > :03:04.happy to meet with him and his council colleagues.

:03:05. > :03:08.The floods in Yorkshire including in Leeds last Boxing Day cause

:03:09. > :03:11.devastation and many businesses still have not reopened. Wh`t

:03:12. > :03:16.conversations as the charts are having with insurance companies who

:03:17. > :03:19.have restricted cover, incrdased premiums and put up excesses,

:03:20. > :03:21.risking creating a ghost towns in many of our communities and risking

:03:22. > :03:30.jobs too? This is a matter on which the

:03:31. > :03:35.Minister for the Cabinet Office in Leeds, but I have some understanding

:03:36. > :03:40.of the issues as my own constituency were subject to serious flooding in

:03:41. > :03:42.2014. I will talk to my right honourable friend, the Minister for

:03:43. > :03:50.the Cabinet Office and make him aware of the concerns laid out.

:03:51. > :03:56.Can I thank your for allowing not into takeover parliament today? I'm

:03:57. > :03:59.sure my right honourable frhend the Chancellor knows the benefits of the

:04:00. > :04:03.East Midlands because he usdd to work in Nottingham. I'm surd he also

:04:04. > :04:07.believes in the value of infrastructure projects. And I ask

:04:08. > :04:15.whether he's minded at all, as it prepares the Autumn Statement, to

:04:16. > :04:18.bring Ford HS2, making sure the Midlands hub, and also the `lleged

:04:19. > :04:22.location of the East Midlands Main line, all of which will bendfit

:04:23. > :04:26.Nottinghamshire? I thank my honourable friend for her

:04:27. > :04:28.question, indeed, Nottinghalshire is a part of the country I know well

:04:29. > :04:33.and have a great deal of affection for. The Government is completely

:04:34. > :04:37.seized of the need for infrastructure investment to support

:04:38. > :04:42.for the activity performancd of our economy. My right honourabld friend,

:04:43. > :04:45.the Transport Secretary, will be looking at the priority to be

:04:46. > :04:52.afforded to specific projects, and will make statements in due course.

:04:53. > :04:56.Given that the East Midlands and the West Midlands together could

:04:57. > :05:00.generate significant growth for our economy if it got there eyed road,

:05:01. > :05:05.rail and skills infrastructtre, will he acknowledge that, given ht is not

:05:06. > :05:10.a game in Parliament day-to,day that the Autumn Statement rdally

:05:11. > :05:17.should be bringing forward those ambitions in the Midlands Engine?

:05:18. > :05:20.The Government is committed to the Midlands Engine, and the honourable

:05:21. > :05:25.gentleman is absolutely right that the Midlands conurbation ovdrall has

:05:26. > :05:30.a weight of population and dconomic activity that allows it to be a

:05:31. > :05:36.rival to the hub of London `nd the South East. As I said to my

:05:37. > :05:38.honourable friend a minute `go, announcements about specific

:05:39. > :05:45.projects will be made in dud course by the relevant extra in a relevant

:05:46. > :05:49.departmental minister. One of the most important w`ys the

:05:50. > :05:54.Chancellor could boost economic growth outside of London and this at

:05:55. > :05:58.least pays is to energise slall business. I wonder if on th`t basis

:05:59. > :06:00.he would consider reviewing the small business enterprise scheme in

:06:01. > :06:09.the hope that he might supervise it or we could see a wall of private

:06:10. > :06:14.cash invested in small businesses? My friend is right, ensuring the

:06:15. > :06:18.right amount of funding in start-up enterprises is key to the ftture of

:06:19. > :06:24.our economy. I can assure hhm that all schemes, taxes and other such

:06:25. > :06:28.structures will be reviewed in the run-up to the Autumn Statemdnt, and

:06:29. > :06:34.I will let him know on Novelber 23 my conclusions.

:06:35. > :06:42.Is the Chancellor of Excheqter aware that his predecessor introdtced a

:06:43. > :06:46.scheme that was raised upon robbing the Derbyshire County Counchl of

:06:47. > :06:53.?155 million in cuts, and then promising to give them less than 20%

:06:54. > :06:57.of that money back? No wonddr the people in Bolsover marketpl`ce, they

:06:58. > :07:01.don't call it the Northern Powerhouse, it's the Northern

:07:02. > :07:08.Powerhouse. I know my right honourable friend

:07:09. > :07:12.will be wanting to look at the allocation of funding to local

:07:13. > :07:19.authorities, including Derbxshire County Council. As he will know

:07:20. > :07:23.there are many powerful advocate for Derbyshire on both sides of this

:07:24. > :07:26.House. I wish the honourable gentldman a

:07:27. > :07:31.speedy recovery, he can ask his question from his seat.

:07:32. > :07:34.Thank you, Mr Speaker. The Chancellor be aware that thd East

:07:35. > :07:40.Midlands has a trade surplus with China thanks to manufacturing

:07:41. > :07:46.interests in the area. Past chancellors have been keen to

:07:47. > :07:50.trumpet business interest in the Northern Powerhouse, would this help

:07:51. > :07:56.to turn the Colts in the middle and engine with future visits?

:07:57. > :08:00.Indeed, I well, it is an important part in the role of chancellors to

:08:01. > :08:05.act as a champion for busindsses in the North and the Midlands. Digest

:08:06. > :08:10.draw attention to inward investors like the Chinese, like the Hndians -

:08:11. > :08:15.who are of course already hdavily invested in the East Midlands - to

:08:16. > :08:18.opportunities exist in the TK beyond London and the South East, which are

:08:19. > :08:22.sometimes not so obvious to foreign investors as those that exist in

:08:23. > :08:28.London. In order to boost growth outside of

:08:29. > :08:32.London and they said these place, there should be a focus on

:08:33. > :08:39.manufacturing and its assochated innovation research and devdlopment.

:08:40. > :08:47.The UK's record on RND development is lamentable competitor

:08:48. > :08:50.competitors. But they Chancdllor take the committee to reverse the

:08:51. > :08:57.Autumn Statement and confirl funding for grants and loans?

:08:58. > :09:02.We've supported ?22 billion of research and about meant spdnding

:09:03. > :09:08.through the tax credit spending examine microsystem. The right

:09:09. > :09:14.honourable gentleman is correct the... Aaron Best meant in research

:09:15. > :09:18.and is considerably less th`n many of our principal competitors. I can

:09:19. > :09:23.promise him we are acutely `ware of this challenge, and I will `ddress

:09:24. > :09:29.that challenge the Autumn Statement. I take that as revealed good news

:09:30. > :09:33.story some point to come. In order to boost growth we need to take

:09:34. > :09:37.export more seriously, incltding to the EU, given our teeth bal`nce has

:09:38. > :09:43.gone into reverse over the past two years. -- trade balance. In order to

:09:44. > :09:48.reflect that, what efforts hs the Chancellor making to roll ott a hard

:09:49. > :09:53.Brexit, with visas, tariff barriers, and enter the customs union - all of

:09:54. > :10:02.which the Treasury themselvds say could lead still laws of 66 billion

:10:03. > :10:07.of revenue, a reduction... Could possibly lead to the reducthon of

:10:08. > :10:12.half a million jobs. I know the SNP doesn't like a good

:10:13. > :10:16.news story, and I'm sure thd gentlemen will be able to think of a

:10:17. > :10:21.suitable response by Novembdr 2 in case is one on that day. On the

:10:22. > :10:25.wider issue of managing Britain s exit from the European Union, the

:10:26. > :10:29.Prime Minister has been verx clear, we understand the instructions we

:10:30. > :10:33.have received from the Brithsh people, and within our obligation to

:10:34. > :10:37.deliver those, we will seek to get the very best deal we can whth the

:10:38. > :10:40.European Union that maximisds the amount of trade and goods and

:10:41. > :10:44.services between our companhes and the markets of the European Union

:10:45. > :10:50.and European companies and the UK market.

:10:51. > :10:56.Financial services are one of the sectors most exposed to Brexit, but

:10:57. > :11:01.it's not just jobs in the fhnancial sector which area at risk in London,

:11:02. > :11:06.it is Edinburgh, Manchester and beyond. The responses so far happy

:11:07. > :11:11.incoherence, firms need reassurances they will get compatible access to

:11:12. > :11:15.the single market and the ability to maintain EU National work for them.

:11:16. > :11:23.With the Chancellor finally bit the end to his Government's chaos and

:11:24. > :11:25.promised to deliver both today? He is right to identify fin`ncial

:11:26. > :11:29.services as one of the areas particular date concerned about the

:11:30. > :11:33.way in which the exit from the European Union is managed, because

:11:34. > :11:38.the industry is particularlx dependent upon the passporthng

:11:39. > :11:42.resume which is in place. Hd is also right to draw attention to the often

:11:43. > :11:47.overlooked fact that 75% financial services jobs are outside London.

:11:48. > :11:54.This is an important, UK-wide industry. But on the specifhc point

:11:55. > :11:59.that he makes, I certainly have been seeking to reassure financi`l

:12:00. > :12:03.services businesses that we will put at their unease at the heart of our

:12:04. > :12:07.negotiation with the Europe`n Union. We understand their needs m`rket

:12:08. > :12:12.access. We also understand their needs to be able to engage the right

:12:13. > :12:16.skilled people. I said on the record and am happy to say again today that

:12:17. > :12:20.I do not believe that concerns the British people have expressdd about

:12:21. > :12:24.migration from the European Union relate to people with high skills

:12:25. > :12:29.and high pay. The problem that people are concerned about hs people

:12:30. > :12:35.taking entry-level jobs, and I see no likelihood that we will tse

:12:36. > :12:38.powers to control migration into the UK to prevent companies bringing

:12:39. > :12:45.highly skilled, highly paid workers hair.

:12:46. > :12:52.Mr Speaker, with your permission, if I could answer the question with

:12:53. > :12:56.question number four, in negotiating double taxation treaties thd UK

:12:57. > :13:02.objective is to reach an agreement that allocates taxing rights on the

:13:03. > :13:07.basis acceptable to both cotntries. Restrictive tract treaties hnhibit

:13:08. > :13:10.the ability of developing countries to spend money on things like

:13:11. > :13:14.schools and education and rdsearch shows along with Italy, the UK has

:13:15. > :13:17.the highest number of these, so is the minister willing to work with

:13:18. > :13:23.the Department for Internathonal Development to try and change that?

:13:24. > :13:29.I would disagree with the honourable gentleman. I think, in fact, the

:13:30. > :13:32.double taxation treaties actually help developing countries. They can

:13:33. > :13:36.remove uncertainty about thd way businesses might choose to lake

:13:37. > :13:41.investment and they can open up the route for fairer and more open

:13:42. > :13:47.trade. The majority of the TK double taxation treaties are based on the

:13:48. > :13:54.OCD model of taxation prevention and we work closely with countrhes to

:13:55. > :13:58.find a mutually acceptable treaty. Can the Minister tell us wh`t plans

:13:59. > :14:04.she has to carry out assesslents of the impact that the UK tax treaty

:14:05. > :14:08.has on developing countries? And if her department will offer poorer

:14:09. > :14:16.countries the opportunity to renegotiate treaties that do not do

:14:17. > :14:19.enough to support their devdlopment? As I said before, there is ` rolling

:14:20. > :14:25.programme of renegotiation to make sure that treaties reflect lodern

:14:26. > :14:30.standards, but more broadly, the UK has a proud record in terms of

:14:31. > :14:34.capacity building in this area and we lead international efforts to

:14:35. > :14:39.support developing countries in tax capacity building. One example is

:14:40. > :14:44.the differential id funds, `nd the OECD providing technical assistance

:14:45. > :14:50.to partner countries, so we can be proud of the record. In negotiation

:14:51. > :14:55.double tax treaties we are developing -- with developing an

:14:56. > :14:59.advanced nations will you look at the transport provisions so we can

:15:00. > :15:03.broaden the tax base and stop the likes of Apple, Amazon and Google

:15:04. > :15:08.gaining taxes from us. The TK is committed to make sure that UK

:15:09. > :15:13.companies pay a fair share of tax in the countries they are oper`ting in.

:15:14. > :15:17.In terms of the wider international tax fairness I reiterate th`t the UK

:15:18. > :15:20.has taken a very strong stands across the board on a number of

:15:21. > :15:24.issues but I'm always happy to speak to my honourable friend abott the

:15:25. > :15:25.issue because I know he is very expert and we would welcome his

:15:26. > :15:35.views on these issues. The government has taken stdps to

:15:36. > :15:38.maintain a world-class business environment that helps UK

:15:39. > :15:43.manufacturers thrive and it's why we have cut corporation tax from 2 %

:15:44. > :15:48.down to 20% and it will fall further to 17% and why we have supported ?22

:15:49. > :15:52.billion of R and D through tax credits, which helps the

:15:53. > :16:00.manufacturers to grow as innovative, competitive countries. I welcome the

:16:01. > :16:03.response, but what message hs he sending to international

:16:04. > :16:06.manufacturing companies with operations in Britain about this

:16:07. > :16:12.country's future international competitiveness as we leave the

:16:13. > :16:16.European Union? Our message is straightforward. Britain is open for

:16:17. > :16:18.business, as the Prime Minister said, and we will continue to be a

:16:19. > :16:28.confident, outward looking country. Manufacturing for the long term

:16:29. > :16:35.depends on investment, long,term investment. What assessment has the

:16:36. > :16:38.Minister made of the impact of us potentially leaving the European

:16:39. > :16:44.investment bank, and what progress has there been, and any discussions

:16:45. > :16:49.about us maintaining our st`te? In terms of the European investment

:16:50. > :16:55.bank, we are in discussions with them. Will he agree with me that

:16:56. > :17:00.reducing anti-competitive m`rket distortions is both a great physical

:17:01. > :17:06.way to promote manufacturing and to ensure the country's best place for

:17:07. > :17:10.new trade deals? -- Best pl`ced I agree that removing distorthons in

:17:11. > :17:16.the economy will result in ` more efficient economy and the UK

:17:17. > :17:21.Government has a record of doing that by release -- reducing

:17:22. > :17:24.corporation tax, for exampld. Apart from lowering corporation t`x in

:17:25. > :17:29.Northern Ireland, what other steps will the Chancellor and his

:17:30. > :17:36.ministerial team take to incentivise manufacturing in northern -,

:17:37. > :17:39.Northern Ireland? I do think in terms of freedom for Northern

:17:40. > :17:44.Ireland to set its corporathon tax rate is an important measurd in

:17:45. > :17:47.itself and we look forward to further progress on that. Of course,

:17:48. > :17:56.there will be in Autumn Statement next month whether government will

:17:57. > :17:58.set out its economic policy but as a government, we mentioned corporation

:17:59. > :18:02.tax and tax credits that were made more generous, these are all

:18:03. > :18:07.measures that have helped manufacturing businesses in Northern

:18:08. > :18:09.Ireland and elsewhere. Whild I welcome the ongoing commitmdnt to

:18:10. > :18:15.the northern powerhouse and manufacturing in my constittency and

:18:16. > :18:20.the department allocated funds for the Hub growth, but does thd

:18:21. > :18:24.Minister agree those investlent must seek maximum economic benefht in the

:18:25. > :18:28.current proposal will take `n existing pinch point down the road

:18:29. > :18:36.if we do not seek the chewing up of the carriageway down the a 64?

:18:37. > :18:43.Extremely tangential, so meriting an pithy response. I will look forward

:18:44. > :18:51.to examining the case for dtelling that road and the benefit that that

:18:52. > :18:53.will provide. Last month thd Chancellor proudly dismissed his

:18:54. > :19:00.predecessor's plans to cut corporation tax to 15%, but this

:19:01. > :19:04.week however we hear of plans hatched by senior government figures

:19:05. > :19:12.to cut corporation tax as low as 10% as part of a so-called Brexht

:19:13. > :19:15.nuclear option. This is despite the British Chambers of commercd and the

:19:16. > :19:19.Institute of directors stathng that cutting corporation tax would not be

:19:20. > :19:23.at the top of their wish list. Can the minister put an end to his

:19:24. > :19:28.government's reign of chaos and confirmed today what his long-term

:19:29. > :19:37.position is on corporation tax so that businesses have the st`bility

:19:38. > :19:42.they deserve? I'm not sure hf I was a labour frontbencher I would use

:19:43. > :19:47.the phrase reign of chaos. But let me just be very clear. The TK

:19:48. > :19:54.Government has rightly reduced corporation tax from 28% to 20% and

:19:55. > :19:58.we are legislating down to 07%. If there are any further announcements,

:19:59. > :20:05.that will be in a fiscal evdnt like the Autumn Statement or budget. I'm

:20:06. > :20:10.afraid that the other mental chaos we have seen on corporation tax is

:20:11. > :20:14.sadly replicated in terms of investment. The Chancellor promised

:20:15. > :20:18.to terror the previous budgdt and develop an industrial stratdgy

:20:19. > :20:24.before denying he was plannhng a spending splurge. A recent poll

:20:25. > :20:27.showed that almost two thirds of Britons agreed that the country is

:20:28. > :20:32.not doing enough to meet its infrastructure needs and we on this

:20:33. > :20:36.side agree. Can the Minister and his government 's chaotic record on

:20:37. > :20:39.investment and confirm how luch he plans to invest in infrastrtcture,

:20:40. > :20:46.and on what, and where will he get the money from? Can I just point out

:20:47. > :20:50.on the subject of corporation tax it wasn't that many months ago that on

:20:51. > :20:53.one day the Shadow Chancellor condemned the reduction down to 17%

:20:54. > :21:01.whilst the Labour Party comlittee voted for it. Can I also just be

:21:02. > :21:06.clear that in terms of infrastructure it's no good coming

:21:07. > :21:10.forward with incredible plans to spend 500 billion plan -- ?400

:21:11. > :21:14.billion without any idea as to how it will be paid. The Chancellor will

:21:15. > :21:19.make a statement on the 23rd of November in terms of the policy on

:21:20. > :21:20.this, but to have some credhbility the Labour Party really need to

:21:21. > :21:32.change tack. The ?4.4 billion priority school

:21:33. > :21:35.building programme was established to rebuild or refurbish those school

:21:36. > :21:39.buildings in the worst condhtion across the country and the programme

:21:40. > :21:43.second phase was announced hn May 2014 and feasibility studies are

:21:44. > :21:50.being carried out. In addithon we are allocating ?4.2 billion across

:21:51. > :21:52.2015 up to 20 18, two local authorities, Academy trusts and

:21:53. > :21:57.partnerships maintaining thdir schools. I'd like to thank ly right

:21:58. > :22:07.honourable friend for his rdply but one high school in my consthtuency

:22:08. > :22:11.has been top priority for a rebuild. Can I ask my honourable fridnd that

:22:12. > :22:17.he looks at this carefully so we can finally give the pupils of the high

:22:18. > :22:21.school the school they deserve? I thank the honourable friend for his

:22:22. > :22:25.question. I understand his constituents disappointment that the

:22:26. > :22:33.school was not successful in its application to the priority building

:22:34. > :22:36.programme. We do need to prhoritise schools in the very worst

:22:37. > :22:39.conditions. I understand thd school buildings are receiving invdstment

:22:40. > :22:43.through the local authority and I understand they will have competing

:22:44. > :22:45.priorities for capital resotrces but I'm sure my honourable friend will

:22:46. > :22:54.be continuing to make the c`se for the school. With ?180 million spend

:22:55. > :22:59.it on phase one, will the government be tempted to back fill with

:23:00. > :23:03.second-rate PFI buildings, `nd what role will it have this programme? In

:23:04. > :23:09.terms of the record on school building, let me address th`t point.

:23:10. > :23:13.We have spent ?18 billion shnce 2010 on the school estates and wd are

:23:14. > :23:19.committed to a further ?23 billion so pupils can be taught in

:23:20. > :23:22.facilities fit for the 21st century. Of course, we want to make sure that

:23:23. > :23:30.this is funded at the most appropriate value for money and

:23:31. > :23:36.sustainable way. With permission, I will answer this question together

:23:37. > :23:40.with questions seven, 12 and 14 World-class infrastructure hs

:23:41. > :23:42.central to raising our country's productivity and around 3000

:23:43. > :23:48.infrastructure projects havd been delivered across the UK since 2 10

:23:49. > :23:54.with another 600 projects worth over ?480 billion in the pipelind. We are

:23:55. > :23:57.investing over ?13 billion hn transport across the North, 5

:23:58. > :24:01.billion in the Midlands and nationwide we are making thd largest

:24:02. > :24:04.investment in roads across the UK in a generation and rail is

:24:05. > :24:10.experiencing a level of invdstment not seen since Victorian tiles. I

:24:11. > :24:15.thank the Chancellor for thd answer. Can he ensure that the lower Thames

:24:16. > :24:20.crossing option preferred bx the highways agency quickly and speedily

:24:21. > :24:23.taken forward, which will enhance the investment in Medway and the

:24:24. > :24:29.whole of the Thames Gateway area in facilitating house-building and

:24:30. > :24:33.encouraging business growth and supporting existing infrastructure

:24:34. > :24:36.in the Kent area? I commend my honourable friend for the w`y he has

:24:37. > :24:39.campaigned on the issue and we recognise the importance of this

:24:40. > :24:45.crossing for supporting the economy on both sides of the Thames,

:24:46. > :24:48.particularly given the constrained capacity at Dartford. It will

:24:49. > :24:51.produce significant benefits locally, regionally and nathonally

:24:52. > :24:58.and the government will be laking a decision on the location and root in

:24:59. > :25:00.due course. Conservative controlled Southend Council were very

:25:01. > :25:04.disappointed they were unsuccessful in their bid to the coastal

:25:05. > :25:07.communities fund. Would my right honourable friend agreed to meet

:25:08. > :25:13.myself, the leader of the council, and others, so we might share with

:25:14. > :25:16.him why we do need investment in infrastructure, particularlx as

:25:17. > :25:21.Southend is the alternative city of culture next year. Well Mr Speaker,

:25:22. > :25:25.my honourable friend makes ` good point. The government recognises the

:25:26. > :25:30.ongoing growth potential of Southend. The government's

:25:31. > :25:34.substantial investment that includes over ?40 million through thd

:25:35. > :25:38.south-east growth deal and the 014 city deal. The government announced

:25:39. > :25:41.last year that the coastal communities fund would be extended

:25:42. > :25:46.over this Parliament, at le`st another ?90 million of further

:25:47. > :25:49.funding is available to prolote sustainable economic growth and jobs

:25:50. > :25:52.within the UK's coastal comlunities and I would strongly encour`ge

:25:53. > :26:04.Southend Borough Council to apply to this funding. We welcome yotr

:26:05. > :26:08.comments on the infrastructtre, would he now commit to workhng with

:26:09. > :26:11.us all to secure the funding for the duelling of the Eastern byp`ss

:26:12. > :26:15.around my constituency of Lhncoln which will greatly support not only

:26:16. > :26:19.the development of the city, but also the whole of greater

:26:20. > :26:22.Lincolnshire. I recognise mx honourable friend's commitmdnt to

:26:23. > :26:26.his preferred version of thd project. Funding has been m`de

:26:27. > :26:32.available for the provision of the Lincoln Eastern bypass. In the

:26:33. > :26:36.county council's preferred version, a single carriageway road, `nd as my

:26:37. > :26:41.honourable friend will know, the county council is not in favour of

:26:42. > :26:45.restarting the process from scratch and introducing further del`ys, so I

:26:46. > :26:48.cannot, I'm afraid, give hil any confidence that additional funding

:26:49. > :26:54.will be made available to adopt a dualling solution. I was pldased

:26:55. > :27:00.that in the last budget statement the previous Chancellor announced

:27:01. > :27:04.the new Thames Street 2015 growth commission to focus on delivering

:27:05. > :27:07.essential infrastructure, and development for this crucial region.

:27:08. > :27:11.Could I ask my right honour`ble friend for assurances that this

:27:12. > :27:17.commission, led by Lord Hesdltine, will continue to be

:27:18. > :27:23.I'm Brad my honourable friend has raised this point. The tens S3

:27:24. > :27:30.growth commission has been `sked to raise an ambitious plan and for the

:27:31. > :27:34.area. I'm grateful to Lord Heseltine and his commissioners for bringing

:27:35. > :27:38.this report. I look forward to receiving the interim report ahead

:27:39. > :27:43.of the budget next year when I will give a response to it.

:27:44. > :27:47.When the Chancellor came to the Treasury Select Committee l`st week,

:27:48. > :27:51.he was unsure as to whether or not they were doing analysis by region

:27:52. > :27:56.of the effect of leaving thd European Union. He's had a week to

:27:57. > :27:59.find out, could you give thd House the answer, please?

:28:00. > :28:04.I think if the honourable l`dy checks a video she will find I was

:28:05. > :28:07.not unsure, I was advising lyself service colleague that I understood

:28:08. > :28:13.we were doing such regional analysis. It is the case at we're

:28:14. > :28:19.doing regional analysis, and that will help to inform the prilers to's

:28:20. > :28:25.negotiation strategy. With the Chancellor agree whth me

:28:26. > :28:29.that energy efficiency should be a priority for development nationally

:28:30. > :28:32.and regionally. Would he consider that proceeds of the Shell gas

:28:33. > :28:38.sovereign wealth fund should be at her efficiency measures so that we

:28:39. > :28:47.can encourage innovation? I'm not necessarily an favotr of

:28:48. > :28:51.earmarking hypothetical funds for that purpose, but I do think the

:28:52. > :28:54.honourable lady makes an important point is, we have a serious

:28:55. > :28:59.challenge over energy capachty in this country over the next 20 years,

:29:00. > :29:04.and we're going to have to hnvest large sums of money, and allost ?100

:29:05. > :29:10.billion, just ensure the lights stay on. Of course it makes sensd to

:29:11. > :29:22.reduce energy demand through conservation measures, alongside

:29:23. > :29:25.existing measures. Last week, the infrastructure

:29:26. > :29:28.measure in the Northern Ireland Executive announced a major

:29:29. > :29:35.infrastructure projects in Belfast with beats stopped because ht's

:29:36. > :29:39.unlikely to be stopped before the end of the period when we ldave the

:29:40. > :29:44.map, and their four funding would be lost. That the minister let us know,

:29:45. > :29:49.has the infrastructure Minister had any discussions with him about this

:29:50. > :29:53.project, and Kenny gave asstrance to the Northern Ireland Executhve that

:29:54. > :29:58.any project started before we leave the EU weather is a funding gap will

:29:59. > :30:04.be bridged by the Treasury? I'm not aware of the project he

:30:05. > :30:07.refers to, as virus I'm where the Northern Ireland Executive have not

:30:08. > :30:11.been in touch with the Treasury We have made two announcements, an

:30:12. > :30:14.announcement that confirms `ll projects signed before the @utumn

:30:15. > :30:19.Statement in the normal course of business would be guaranteed

:30:20. > :30:23.whatever, whether they conthnue to be funded by the EU or not `fter our

:30:24. > :30:30.exit. I made a further statdment that says after the Autumn

:30:31. > :30:34.Statement, any new EU funded projects, as long as they p`ss our

:30:35. > :30:38.priorities test, will get the same guarantee. However long thex last,

:30:39. > :30:45.they will be funded by the TK Treasury want EU funding stops.

:30:46. > :30:50.This Government continues to be in chaos of its flagship, so cold,

:30:51. > :30:54.Northern Powerhouse. I live there, I see it every day, they have no

:30:55. > :30:57.long-term industrial strategy. Meanwhile, notwithstanding what the

:30:58. > :31:06.Chancellor said earlier, regional economies are still bring from -

:31:07. > :31:10.suffering from lack of investment. Particular date transport

:31:11. > :31:14.infrastructure. A problem now compounded by Brexit. What plans

:31:15. > :31:18.does the Chancellor have set and this uncertainty and finallx bring

:31:19. > :31:24.to this House a rebalancing or an enhancement of regional transport

:31:25. > :31:29.ever structure spending? I urge the honourable gentldman not

:31:30. > :31:32.to talk down the North and the importance of the Northern

:31:33. > :31:36.Powerhouse. The Northern Powerhouse is an important part of the

:31:37. > :31:41.Government's strategy, and the new Prime Minister has made cle`r her

:31:42. > :31:46.commitment to it. When he's right is in drawing attention to the

:31:47. > :31:49.shortfall of infrastructure investment in the UK overall

:31:50. > :31:53.compared to our principal competitors. That is an isste we

:31:54. > :31:58.have to address at national level, looking for the best value for

:31:59. > :32:03.money, ie, the projects will give the greatest contribution to closing

:32:04. > :32:11.that productivity gap. Question number eight, Mr Speaker.

:32:12. > :32:15.The Office For Budget Responsibility are responsible for forecasting

:32:16. > :32:21.contributions to the EU. Thdy will update that Autumn Statement 20 6.

:32:22. > :32:27.The contribution of the perhod was 26 billion pounds.

:32:28. > :32:30.Thank you for that response. In spite of all the spending pledges

:32:31. > :32:35.which are being made today `nd recently, hospitals, schools police

:32:36. > :32:39.and roads in my constituencx certainly do need a boost in

:32:40. > :32:42.spending is. Does the most `gree with me that the sooner we leave the

:32:43. > :32:47.European Union, the sooner that money will be available for them?

:32:48. > :32:51.What I say to my honourable friend is that any money saved will depend

:32:52. > :32:56.on the overall fiscal situation and the broader economic environment.

:32:57. > :33:04.Decisions on spending will be taken in the round at Autumn Statdment and

:33:05. > :33:09.budgets. But was to remain lembers of the European Union, we h`ve two

:33:10. > :33:16.continue to pay in. On the day of the EU referendum I

:33:17. > :33:18.met an NHS worker who voted to leave the European Union, precisely

:33:19. > :33:23.because she thought there would be more money available to the NHS

:33:24. > :33:26.banks did the ?350 million per week in place and on the Vote Le`ve

:33:27. > :33:35.abuzz. I want to know and she wants to know, when we leave the Duropean

:33:36. > :33:41.Union, are we getting that loney? It's certainly not for me to justify

:33:42. > :33:48.or explain the pledges made by the Leave campaign. But what I would say

:33:49. > :33:51.is, when it comes to public spending decisions, that needs to be taken in

:33:52. > :34:00.the context of the economic and fiscal situation.

:34:01. > :34:03.One appreciate the getting back our EU contribution was a factor in the

:34:04. > :34:08.referendum, what the Ministdr confirm that this administr`tion is

:34:09. > :34:12.at least open to the idea of paying some contribution in the future if

:34:13. > :34:15.we are to get some sort of `ccess to the single market for financial

:34:16. > :34:20.services is, or indeed in relationship to passporting and is

:34:21. > :34:23.equivalence, though could bd some sort of contribution?

:34:24. > :34:27.The important thing is for the United Kingdom to get the bdst

:34:28. > :34:31.possible deal in our negoti`tions with the European Union. I don't

:34:32. > :34:38.think it makes sense to bind our hands, close down options, `t this

:34:39. > :34:41.point. Nor is it right that we provide a running commentarx on this

:34:42. > :34:46.matter. Wales will continue to recehve

:34:47. > :34:56.convergence funding while wd are in the EU. In any case, what the

:34:57. > :34:59.Treasury on the Prime Minister's pledge to continue the Swansea

:35:00. > :35:05.Railway, making a part of the pan-European network, and m`ke it

:35:06. > :35:09.part of a manufacturing hub two will he met on that pledge?

:35:10. > :35:14.That is a matter for the Tr`nsport Secretary. As the Chancellor has

:35:15. > :35:19.made clear, this Government is committed to improving our

:35:20. > :35:27.infrastructure. Number nine, sir.

:35:28. > :35:32.The Government is committed to helping the Midlands in terls of its

:35:33. > :35:37.economic potential and making it a powerful engine for growth. We're

:35:38. > :35:42.backing skills, innovation hn the automotive and aerospace injuries

:35:43. > :35:49.examine map industries and putting power into local people's h`nds by

:35:50. > :35:54.voting a new mayor for the Lidlands. I think it's also in order to

:35:55. > :36:00.mention our excellent candidate in this race.

:36:01. > :36:05.I thank him for the answer. A report earlier this year suggested 53

:36:06. > :36:09.billion could be contributed at to the UK economy by the East Lidlands

:36:10. > :36:13.by 2020, reflecting the central role the area continues to play hn

:36:14. > :36:17.driving growth. Does my honourable friend agree that to sustain this

:36:18. > :36:20.triggered a success it is absolutely vital we continue to deliver an

:36:21. > :36:30.investment in Leicestershird's roads, rail and broader

:36:31. > :36:33.infrastructure. Might I instructed my colleague on the benefits of the

:36:34. > :36:41.blue pencil? Very good advice, Mr Speaker.

:36:42. > :36:47.Investment in infrastructurd between our major cities is vital. We are

:36:48. > :36:49.investing over five billion in transport infrastructure to put the

:36:50. > :36:59.Midlands at the heart of a lodern transport network.

:37:00. > :37:04.Pettiness personified. Can the Minister confirm no be no

:37:05. > :37:12.delays today I'd have locathon of the East Midlands railway lhne.

:37:13. > :37:18.Yes, he can. Question Time, Mr Speaker.

:37:19. > :37:25.If people feel they have had their tax credits incorrectly withdrawn,

:37:26. > :37:33.they should urgently contact HMRC. It will review all complaint cases

:37:34. > :37:40.and pay redress where appropriate. Labour welcomes the cancell`tion of

:37:41. > :37:47.the Concentrix contract, with the Minister reassure the thous`nds of

:37:48. > :37:52.single parents that their t`x credit, erroneously stocked by

:37:53. > :37:55.Concentrix, will be reinstated immediately, said their children can

:37:56. > :38:03.be kept safe and warm and not go unsaid as winter approaches?

:38:04. > :38:07.She is right to draw the Hotse's attention to vulnerable clahmants.

:38:08. > :38:12.She may be interested to know that HMRC had a further drop in for

:38:13. > :38:16.colleagues on the 19th of October, attended by 15 members and ` number

:38:17. > :38:24.of complaints and issues were raised their, which we are on the way to

:38:25. > :38:30.resolving. In terms of rest`rting claims, is to get right information.

:38:31. > :38:34.HMRC had taken back a vast number of cases, and I will say more `bout

:38:35. > :38:37.this tomorrow, their priority is to get the right information and get

:38:38. > :38:41.them started again as soon `s factor established.

:38:42. > :38:48.After a previous question, the Minister said, demands to bd paid to

:38:49. > :38:52.the supplier are reduced as actual performance fails to meet standards

:38:53. > :38:55.set in the contract. Does that include penalties for withdrawing

:38:56. > :39:01.tax credit when they should not have been withdrawn?

:39:02. > :39:05.The terms of the contract bdtween HMRC and Concentrix are in the

:39:06. > :39:08.public domain. It is right that when performance is not as per the

:39:09. > :39:13.contract, there are associated deductions. I will be in a position

:39:14. > :39:18.to offer the House more information on the contract tomorrow during the

:39:19. > :39:22.opposition day debate. A number of my constituents have

:39:23. > :39:25.been affected by this, not least one who was a front line police officer,

:39:26. > :39:33.who had her benefits withdr`wn, meaning her childcare could not be

:39:34. > :39:37.paid, and she could potenti`lly be unable to go to work. One officer

:39:38. > :39:42.intervened and benefits werd but what is you going to do further

:39:43. > :39:46.people are upset about this treatment is?

:39:47. > :39:50.That two things here - if pdople do feel the tax credits have bden

:39:51. > :39:53.incorrectly withdrawn because of errors, they should contact HMRC

:39:54. > :39:59.will review it and redress can be made. There is a second point that

:40:00. > :40:02.customers can as a mandatorx reconsideration, when they don't

:40:03. > :40:07.feel their circumstances had been correctly identified. Some of the

:40:08. > :40:13.time, that is because peopld don't send through the right information

:40:14. > :40:18.until they've... Mr Speaker, the UK will leave the

:40:19. > :40:23.European Union and introducd control of migration between Britain and the

:40:24. > :40:31.EU. Working with officials `cross governments, the Government

:40:32. > :40:35.undertakes to a number of contingencies will stop I'm afraid

:40:36. > :40:40.were not going to provide a running commentary. We do want the best

:40:41. > :40:42.outcome for the UK, which mdans Alaba spoke arrangements whhch

:40:43. > :40:48.allows companies access to Duropean markets.

:40:49. > :40:54.There was many failed targets and plans, including ?1 trillion of

:40:55. > :40:59.export, a target which is nowhere near being reached, and that is with

:41:00. > :41:04.full access to the single m`rket. Other markets such as Germany,

:41:05. > :41:07.meanwhile, explore more than us to China and other markets. Dods the

:41:08. > :41:10.Chancellor agree that the f`ilure the Government to improve the export

:41:11. > :41:15.performance has led the Govdrnment unable to take advantage of

:41:16. > :41:18.opportunities outside the ET. I think the honourable lady should

:41:19. > :41:26.prove a powerful person in the library of the House.

:41:27. > :41:31.What the Government can support and enable exporters, it cannot do their

:41:32. > :41:34.job for them. It is for exporters to make their businesses competitive

:41:35. > :41:41.and sell their wares around the world. We will do everything we can

:41:42. > :41:45.to support them in that enddavour. Does my honourable friend agree that

:41:46. > :41:50.unless the European Union are going to impose trade sanctions on the UK,

:41:51. > :41:54.there will be nothing to stop us to have access to the single m`rket

:41:55. > :41:59.when we leave? My honourable friend is right in the

:42:00. > :42:07.sense that every nation that is a member of the WTO, and we are a

:42:08. > :42:11.member of the WTO, has the right to access the markets of other members

:42:12. > :42:15.and WTO times. But those tiles will be challenging for some othdr

:42:16. > :42:20.industries. For example, thd automotive industry, the wittier

:42:21. > :42:26.terms apply a temper sent G`reth on the car is markets.

:42:27. > :42:30.the Chancellor will know th`t West Yorkshire is the beating he`rt of

:42:31. > :42:36.the manufacturing economy in this country. Can I tell him that my

:42:37. > :42:40.manufacturing leaders and the employees Federation feel ldft out

:42:41. > :42:43.of the loop in terms of what their future is after Brexit. Could he

:42:44. > :42:48.reassure them? They are disturbed that the future. I can reassure the

:42:49. > :42:54.honourable gentleman that manufacturing industry is vdry much

:42:55. > :42:57.at the forefront of our thinking as we approach these negotiations and

:42:58. > :43:00.I'm sorry I've not had a ch`nce to go to West Yorkshire, but I have

:43:01. > :43:07.been engaging with businessds in all sectors of the economy incltding

:43:08. > :43:09.many businesses from the North who have attended a roundtable

:43:10. > :43:12.discussions in Downing Stredt over the last few weeks to set ott their

:43:13. > :43:22.concerns so we can take thel properly into account. In wdlcoming

:43:23. > :43:25.my right honourable friend's stands on this, could I suggest as it's not

:43:26. > :43:31.only a large balance of paylents deficit with Europe but specifically

:43:32. > :43:38.a large one on automotive, ht is in the EU's interest to strike a decent

:43:39. > :43:44.deal with us, as he intends to do. Mr Speaker, our intention is to get

:43:45. > :43:48.the very best deal that we can with our neighbours in the Europdan Union

:43:49. > :43:51.to allow access for our companies to trade their goods and services into

:43:52. > :43:56.the European Union. But I would caution him that looking at him --

:43:57. > :44:01.the economic arguments alond is the mission very important point. There

:44:02. > :44:07.is a political debate going on in Europe, where European politicians

:44:08. > :44:11.are very conscious of the ilpact of Britain's departure on their

:44:12. > :44:15.political project. And I don't think we can be certain that economics

:44:16. > :44:23.alone will dictate the course of this negotiation.

:44:24. > :44:27.Mr Speaker, the government has provided a guarantee that all

:44:28. > :44:33.European structural and invdstment project signed before the Attumn

:44:34. > :44:36.Statement and we have also provided a guaranteed for all ESI F project

:44:37. > :44:41.signed after the Autumn Statement and before the UK departure from the

:44:42. > :44:44.European Union provided thex pass the test of value for money and are

:44:45. > :44:51.in line with domestic stratdgic priorities. I listened closdly to

:44:52. > :44:54.the Chancellor's previous answers about regional distribution of

:44:55. > :44:58.investment and the latest fhgures show that only a quarter of national

:44:59. > :45:03.infrastructure projects are either in the North west or north dast of

:45:04. > :45:08.England with just one of thd top funded 25 project actually hn the

:45:09. > :45:11.area. With further damaging cuts to net investment due to come during

:45:12. > :45:14.the remainder of the parlialent where will this government `ddress

:45:15. > :45:18.the inequality, match its rhetoric with action and start properly

:45:19. > :45:21.funding the northern powerhouse I make three points to the zero

:45:22. > :45:27.honourable lady. First of all we have an Autumn Statement in three

:45:28. > :45:32.weeks and I will set out more of the forward plans that time, and

:45:33. > :45:36.secondly I am not sure of the top of my head what the population

:45:37. > :45:39.proportion of the UK in the north-west and north-east rdgions

:45:40. > :45:42.is, but if the figures she puotes are correct, a quarter of

:45:43. > :45:45.infrastructure investment, H'm not so sure that that is a

:45:46. > :45:50.disproportionate underfunding. I would need to check that. The third

:45:51. > :45:55.point I would make, it is the case that the very large investmdnt in

:45:56. > :45:58.Crossrail is a strategicallx important national Roger Kahn has

:45:59. > :46:02.had the effect of skewing infrastructure investment towards

:46:03. > :46:10.London over the last few ye`rs - extremely important national

:46:11. > :46:14.project. Can I thank him for his interest in these topics. The

:46:15. > :46:18.natural infrastructure commhttee says that the smart energy system

:46:19. > :46:27.would be put at between ?8 billion per year by 2030. I'm grateful for

:46:28. > :46:30.the Minister for his response. Head of the Autumn Statement, wotld the

:46:31. > :46:35.minister look at the role of the Treasury that it might play in

:46:36. > :46:37.digitising the energy systel by accelerating the StorageTek

:46:38. > :46:41.knowledges, demand-side response on the upgrade of the distribution

:46:42. > :46:45.networks so we can get the productivity gains he expects? The

:46:46. > :46:50.Treasury will continue to work with the Department for business, energy

:46:51. > :46:55.and strategy to drive forward a smart energy system. The government

:46:56. > :47:04.has committed to implement hn the recommendations in full. Topical

:47:05. > :47:06.question. Mr Speaker, my prhncipal responsibilities to ensure the

:47:07. > :47:12.stability and prosperity of the economy and in the current

:47:13. > :47:15.circumstances that requires a combination of the time measures to

:47:16. > :47:21.respond to the shock that the economy has received an longer-term

:47:22. > :47:29.measures to manage structur`l adjustments as the UK transhtions

:47:30. > :47:35.out of the EU. Mr Speaker, today is my 30th wedding anniversary. So I

:47:36. > :47:41.hope the Chancellor will john me in wishing the long-suffering Lrs

:47:42. > :47:48.Double and a happy annivers`ry. Take a Brazilian -- below for thd tax

:47:49. > :47:52.breaks for married people, `nd easy going to try and increase this and I

:47:53. > :47:57.would encourage him to do so. I will join him in wishing the honourable

:47:58. > :48:02.member and his wife a very happy 30th anniversary. Taking my cue from

:48:03. > :48:07.last week I'm probably not going to suggest how Mrs Double might

:48:08. > :48:11.commemorate the event. He is quite right to highlight the valud of a

:48:12. > :48:13.marriage in society and I hope I can reassure him that the government

:48:14. > :48:19.remains firmly committed to supporting the important institution

:48:20. > :48:25.through the marriage allowance. A married couple could benefit by up

:48:26. > :48:28.to ?432 per year. We have jtst passed the landmark of 1 million

:48:29. > :48:32.families who have made succdssful applications but I agree with my

:48:33. > :48:36.honourable friend that uptake is not enough and that is reason, darly

:48:37. > :48:42.next month, HM RC will launch a new campaign to increase awarendss and

:48:43. > :48:46.take-up of the marriage allowance. If I can bring the Chancellor back

:48:47. > :48:49.to Brexit, and happy anniversary by the way, and the role of his

:48:50. > :48:54.department before the referdndum, he said that the Treasury publhshed a

:48:55. > :48:59.paper warning about the dangers of leaving the single market would be

:49:00. > :49:01.up to ?67 billion loss. Last week the permanent Secretary to the

:49:02. > :49:06.Treasury told a select commhttee that these figures were not directly

:49:07. > :49:09.applicable and then the Chancellor questioned his own department's

:49:10. > :49:12.calculation is by referring to mitigation factors not taken into

:49:13. > :49:18.account. There is not just funding chaos on Brexit in the Cabinet, it's

:49:19. > :49:22.in the Treasury as well it seems. Can the Chancellor clarify dxactly

:49:23. > :49:26.what is his department's adtlation for the Outlook to public fhnances

:49:27. > :49:30.if access to the single market is not achieved -- calculation. The

:49:31. > :49:35.honourable gentleman can calculate it how he likes, but all economic

:49:36. > :49:40.models have to make assumpthons In terms of that model the Tre`sury

:49:41. > :49:43.produced in April it assumed no policy response by government, and

:49:44. > :49:46.we know there has been a policy response in the form of the monetary

:49:47. > :49:51.expansion delivered by the Bank of England on August two. And ht

:49:52. > :49:54.assumed that the article 15 notice would be served immediately after

:49:55. > :50:00.the referendum, and as we now know that is not the case --. Article 50.

:50:01. > :50:04.The honourable gentleman will just have to wait until the Novelber 23rd

:50:05. > :50:13.when the Obi I will publish the forecast. -- ODI. -- oh BR. There is

:50:14. > :50:18.no figure attached, just confirms the chaos in Cabinet and in his

:50:19. > :50:22.department. Can I ask the Chancellor to pass on thanks to the officials

:50:23. > :50:27.in the department to very hdlpfully published on the Treasury wdbsite

:50:28. > :50:31.the document labelled public sector finances briefing, official,

:50:32. > :50:35.sensitive for internal use only This document does at least give us

:50:36. > :50:39.some information in that it confirms that the government is failhng to

:50:40. > :50:44.meet predictions on tax recdipts and deficit reduction. It also reveals

:50:45. > :50:48.that this is based upon acthvity from before the referendum, so any

:50:49. > :50:53.post-referendum downturn will exacerbate this. Does this document

:50:54. > :50:57.prove once and for all that far from fixing the roof while the stn is

:50:58. > :51:01.shining, this country was scandalously economically or

:51:02. > :51:06.prepared and politically totally unprepared for the Brexit ddcision?

:51:07. > :51:09.Just so the honourable gentleman is absolutely clear, it's quitd wrong

:51:10. > :51:12.to suggest that my department doesn't have any figures. It does

:51:13. > :51:20.have figures, I'm just not giving them to him. As for the doctment he

:51:21. > :51:25.has spent such a lot of timd rather unsuccessfully trying to tott around

:51:26. > :51:28.the media, it was published by mistake but all of the figures in

:51:29. > :51:36.this document have already been published elsewhere. All of them are

:51:37. > :51:42.in the public domain. Kevin Lancaster and Simon Davies started

:51:43. > :51:48.their business from scratch in the year 2000 and they now generate ?1.7

:51:49. > :51:52.million in profit and a leading industrial cooling firm. Last week

:51:53. > :51:56.the Institute of physics aw`rded it a business innovation award for its

:51:57. > :52:00.innovative application of physics or generating jobs and profit. Will the

:52:01. > :52:03.Chancellor joined me in congratulating them and outlining

:52:04. > :52:06.what the government is doing to support research and develop in so

:52:07. > :52:11.other self starters like Kevin and Simon can grow? I think all of the

:52:12. > :52:15.Treasury ministers would be delighted to congratulate the

:52:16. > :52:20.company on the innovation award they have one. Of course the govdrnment

:52:21. > :52:23.touched on this earlier and we are committed to supporting resdarch and

:52:24. > :52:26.development in British businesses provided one of the most generous

:52:27. > :52:33.tax credits schemes in the world to small businesses and it is claimed

:52:34. > :52:36.by over 20,000 businesses. Why does the Chancellor believe that

:52:37. > :52:40.corporation tax receipts collapsed in September 2016 to their lowest

:52:41. > :52:46.level since 2009, and why does he believe they will overshoot the OBR

:52:47. > :52:52.forecast this year? I'm sorry to be boring, but all of these issues will

:52:53. > :52:57.be addressed at the financi`l Autumn Statement when we have the latest

:52:58. > :53:00.fiscal projections from the OBR I know there will be a statemdnt in a

:53:01. > :53:04.moment but it's been reportdd that Heathrow has been the chosen option

:53:05. > :53:07.for expansion. It is import`nt therefore that every part of the UK

:53:08. > :53:12.benefits from this and so do the regional airports. Would he agree to

:53:13. > :53:14.meet with me how we can improve connectivity to Leeds Bradford

:53:15. > :53:20.Airport and how we might get funding for a rail link? As my honotrable

:53:21. > :53:25.friend on the house will know, the announcement has been made that the

:53:26. > :53:31.airport committee this mornhng decided to move ahead with the North

:53:32. > :53:33.West runway at Heathrow, and my right honourable friend, thd

:53:34. > :53:37.Transport Secretary, will m`ke a statement to the house very shortly.

:53:38. > :53:42.My honourable friend is verx right. Regional connectivity is vitally

:53:43. > :53:44.important, and regional slots at Heathrow have been squeezed out by

:53:45. > :53:49.the pressure on the runways there and we will ensure, as part of the

:53:50. > :53:57.package, that regional slots are protected in the future. Tens of

:53:58. > :54:01.thousands of UK jobs depend on euro denominated clearing in the UK.

:54:02. > :54:05.Could the Chancellor Telles how important he regards it that it

:54:06. > :54:11.should still be permissible in the UK after we leave the Europdan Union

:54:12. > :54:14.-- tell us? The right honourable gentleman but a finger on an

:54:15. > :54:17.important issue, and he will know that we've already had one go at

:54:18. > :54:21.trying to prevent euro denolinated clearing from taking place hn the UK

:54:22. > :54:26.and it's no doubt a very iconic issue for many of our Europdan

:54:27. > :54:31.partners. It is an important part of the overall financial structure in

:54:32. > :54:36.London and not easily separ`ted from the other activities that operate in

:54:37. > :54:43.London but in terms of jobs and value attached to it, it is a

:54:44. > :54:49.relatively small part of thd total. What's he planning to do with

:54:50. > :54:55.Bradford and Bingley's assets? Mr Speaker, following the annotncement

:54:56. > :54:58.in budget 2016, we have launched a programme of sales of Bradford

:54:59. > :55:04.Bingley mortgage assets that it holds. This will be designed to

:55:05. > :55:08.raise sufficient proceeds to repay the ?15.56 billion debt to the

:55:09. > :55:12.financial services compensation scheme and, in turn, the

:55:13. > :55:15.corresponding loan from the Treasury and it is expected, subject to

:55:16. > :55:19.market conditions and ensurhng value for money, that this progralme of

:55:20. > :55:27.sales will have concluded in full by the end of 2017/ 18. The government

:55:28. > :55:29.gave ?5 million in funding for the refurbishment of collection in my

:55:30. > :55:34.consistency Mac came from c`sh collecting from the Libor scandal.

:55:35. > :55:39.Will he look at a similar ftnding scheme given that it is the

:55:40. > :55:47.bicentenary of the architect's berth next year and it needs some TLC I'm

:55:48. > :55:50.glad to say that at this st`ge of the process before the Autuln

:55:51. > :55:52.Statement I am able to say that all submissions will be carefully

:55:53. > :55:57.considered and if he lets md have something in writing, I will look at

:55:58. > :56:00.it. Could the Chancellor provide an update on what the government is

:56:01. > :56:08.minded to do with air passenger duty in response to impending ch`nges

:56:09. > :56:12.with APD in Scotland? The government is reviewing the potential options

:56:13. > :56:15.to support regional airports following the discussion paper from

:56:16. > :56:20.last year and we will set ott full details of the response in due

:56:21. > :56:22.course. We did receive 53 rdsponses to the consultation, and very

:56:23. > :56:27.constructive responses and we are looking careful at them --

:56:28. > :56:31.carefully. Can I ask the Ch`ncellor what his assessment is on the

:56:32. > :56:35.inflationary pressure on goods and food over the next 12 months?

:56:36. > :56:40.Clearly the decline in the value of sterling will have an inflationary

:56:41. > :56:46.impact, but how quickly that passes through into the UK economy is a

:56:47. > :56:51.subject of modelling by all economists who carry out thdse types

:56:52. > :56:55.of analysis. The Bank of England will shortly be publishing hts next

:56:56. > :56:57.inflation report, and that should give an indication as to thd forward

:56:58. > :57:06.directory. Under what circumstances wotld my

:57:07. > :57:10.right honourable friend introduce another round of quantitative easing

:57:11. > :57:16.is requested by the Governor of the Bank of England?

:57:17. > :57:20.That is an important question. He knows the operation of monetary

:57:21. > :57:23.policy in the UK is independent of Government. Monetary policy,

:57:24. > :57:28.including quantitative easing, have been highly effective in supporting

:57:29. > :57:33.the economy. Because of the fiscal implications of an indemnitx for the

:57:34. > :57:38.bank, packages had to be formally agreed by the Chancellor. Although I

:57:39. > :57:43.cannot prejudge any hypothetical request, no request for quantitative

:57:44. > :57:47.easing has ever been refused, and I see no reason why circumstances

:57:48. > :57:56.would be different in the ftture. The latest reports for it the RBS

:57:57. > :58:04.bubble restrictor in show even more misconduct in this bank. Dods the

:58:05. > :58:08.Chancellor not believe he h`s an obligation to the people dods

:58:09. > :58:12.country to conduct a robust investigation into these allegations

:58:13. > :58:16.of misconduct? The SCA are looking at this

:58:17. > :58:24.important issue, and we awaht their view.

:58:25. > :58:28.Michael Fabricant is not here, that's unprecedented in the history

:58:29. > :58:40.of me being in this chair. For two, Mr Philip Davies is here.

:58:41. > :58:45.How much UK taxpayers' monex used to bailout other countries in the EU

:58:46. > :58:48.has been paid out to the UK and is still outstanding? And what is the

:58:49. > :58:54.Chancellor doing to make sure we get all this money back when we leave

:58:55. > :58:59.the European Union? No UK taxpayers' money is bding used

:59:00. > :59:02.in the EU's leading to other member states. Only in the event of default

:59:03. > :59:09.with the UK be asked to pay its share.

:59:10. > :59:14.What has the Chancellor madd of its predecessor's austerity economic

:59:15. > :59:22.sign the nation's prosperitx, and would he like to apologise for that

:59:23. > :59:27.divisive and discredited iddology? Irish she what assessment h`ve I

:59:28. > :59:32.made? Since 2010 we have brought this country back from the very

:59:33. > :59:39.brink. We have got borrowing down from other 10% of GDP, to around

:59:40. > :59:45.4%of GDP, with more to deliver. We've created 2.7 million ndw jobs

:59:46. > :59:49.in this economy, making this economy the fastest-growing in the G-7 for

:59:50. > :59:53.the last three years. And the fastest job creator in the developed

:59:54. > :59:58.world. Adding that's erected to be proud of.

:59:59. > :00:04.To what level must the astronomical costs of the HS2 rise beford the

:00:05. > :00:09.Chancellor advice is his colleagues extra exam it matter that this

:00:10. > :00:16.project is no longer good v`lue for money for the taxpayer?

:00:17. > :00:21.What I would say is that we do believe HS2 is part of modernising

:00:22. > :00:26.our transport system and ensuring we've got infrastructure for the

:00:27. > :00:32.21st-century. In the light of the upcoming RBS

:00:33. > :00:40.quote and given that pass sxstems for redress for small busindsses

:00:41. > :00:44.have been ad hoc, will the Chancellor meet with us to lake sure

:00:45. > :00:51.we can form an effective system of redress?

:00:52. > :00:59.He makes a fair point, but H think we shall wait until we recehve the

:01:00. > :01:03.report before we proceed. Mr Speaker, you have seen the latest

:01:04. > :01:13.survey that says that new as the happiest place in mainland Britain.

:01:14. > :01:16.However, what is testing thd people of newer is the appalling state of

:01:17. > :01:24.the local roads. What the Chancellor do a favour for the people of Newark

:01:25. > :01:31.and bring forward the new Ndwark bypass?

:01:32. > :01:34.As a former resident of this constituency, I'm delighted

:01:35. > :01:41.technology it's the happiest place in Britain. That may, some on my

:01:42. > :01:45.happiest times are in living there. As I said, we are currently in the

:01:46. > :01:49.process of receiving submissions from honourable members across the

:01:50. > :01:54.House, and I would be very happy to receive a written submission from my

:01:55. > :01:57.honourable friend. The Chancellor is considering

:01:58. > :02:02.investment in roads in his @utumn Statement is, well helix

:02:03. > :02:07.sympathetically at they need to support the vital Carrington

:02:08. > :02:13.development on the M60 and L62 network, in order to support

:02:14. > :02:17.journeys in and out of the `rea I don't know the project thd

:02:18. > :02:22.honourable lady's talking about I assume it is a housing development.

:02:23. > :02:25.We're certainly very interested in the way infrastructure investments

:02:26. > :02:32.cannot only deliver in its own right, but also enable much,needed

:02:33. > :02:34.housing development. If she gives me a written submission, I will look

:02:35. > :02:41.into it. The last topical question.

:02:42. > :02:46.Does the Chancellor is a poor German's cyber innovation Cdntre,

:02:47. > :02:53.and as he grew of me that investing in our defence assets will project

:02:54. > :02:57.civilian jobs tomorrow? I was very privileged as Foreign

:02:58. > :03:04.Secretary for two years to have oversight of GCHQ for two ydars It

:03:05. > :03:08.is a world-class facility. Ht ensures not only security, but also

:03:09. > :03:13.a cutting edge business sector which is a sensible thing to do and I work

:03:14. > :03:20.in this excess of the Cheltdnham cyber innovation centre.

:03:21. > :03:26.What the Leader of the Housd of Commons make a statement in response

:03:27. > :03:31.to the second session on Prhvate members bills, and will he provide

:03:32. > :03:38.time for that to be debated? Mr Speaker, the Procedure Committee

:03:39. > :03:39.rubbishes reports last Tuesday. In my evidence to the committed