:00:16. > :00:27.order. Read the title of the Bill set down for consideration. The
:00:28. > :00:35.Southgate Cemetery Hill, the Lords third reading. Tuesday the 23rd of
:00:36. > :00:36.April. Tuesday the 23rd of April. Questions to the Chancellor of the
:00:37. > :00:49.age to. -- of the exchequer. The Government is protecting the
:00:50. > :00:56.core schools budget in real terms, 41 billion -- million pounds. And
:00:57. > :01:01.also the funding lottery will be consulted. It has received over
:01:02. > :01:06.25,000 responses. The Government is considering this carefully and will
:01:07. > :01:13.publish a consultancy in the summer. For St Ives, it would mean an
:01:14. > :01:18.increase of 0.04%. The majority of schools in my constituency are good
:01:19. > :01:21.understanding, due to the dedication of the teaching staff and their
:01:22. > :01:27.headteachers. Government funding for the school has not kept up with an
:01:28. > :01:35.increase in costs, according to the library, increased 3.4% in 2017-18.
:01:36. > :01:39.What message connected back to my schools who tell me that they cannot
:01:40. > :01:45.maintain the standards and school funding ever does not keep up with
:01:46. > :01:49.these increased costs -- Mark the Government does recognise that
:01:50. > :01:53.schools like other organisations do face additional costs. Such as
:01:54. > :02:01.salary increases. That is why the Department is in -- encouraging
:02:02. > :02:05.schools to be more efficient. It is also worth pointing out that by
:02:06. > :02:09.protecting the total schools budget in real terms, as pupil numbers
:02:10. > :02:17.increase, so the amount of money in our schools. If the Government is
:02:18. > :02:23.protecting the budget, why is the average cut in my constituency 8%,
:02:24. > :02:34.rising in some of the village schools to 22%? The reality is as I
:02:35. > :02:42.said, the total core schools budget is increasing. It can only increase
:02:43. > :02:48.if we have a strong economy that can pay for it. It is also right that we
:02:49. > :02:58.have a fairer funding formula to ensure that that money is
:02:59. > :03:02.distributed fairly. Mr Speaker, the Government is taking action to give
:03:03. > :03:05.the UK a world beating digital infrastructure that it needs.
:03:06. > :03:11.Broadband across the country has been transformed by the Government
:03:12. > :03:17.led ?1.7 billion superfast programme, extending coverage to 24
:03:18. > :03:23.megabits per second to 95% of UK premises by the end of this year. In
:03:24. > :03:31.autumn 2016, we committed over ?1 billion to support the market to
:03:32. > :03:37.deliver fibre broadband networks to enable 5G mobile and to keep Britain
:03:38. > :03:40.at the forefront of development. The new fibre roll-out is welcome. Can
:03:41. > :03:47.the Chancellor assure me that we will make sure that it incentivised
:03:48. > :03:52.ease the roll-out of more fibre in such a way that it means there is no
:03:53. > :03:59.tax paid until the fibre is first used rather than when it is first
:04:00. > :04:05.installed? The Government's clear intention is to incentivise
:04:06. > :04:12.investment in fibre broadband networks. DC LG will publish a
:04:13. > :04:20.consultation. It will set out in detail on how new fibre will be
:04:21. > :04:24.designed -- defined. Why doesn't the Chancellor shake some of his
:04:25. > :04:28.colleagues up and start investing in the digital infrastructure in the
:04:29. > :04:33.north of England, Yorkshire in particular. When you look at the
:04:34. > :04:40.other infrastructure like real ways, Quinn will be get electrification of
:04:41. > :04:47.the great Northern Pennines railway? In the Autumn statement we announced
:04:48. > :04:51.?23 billion of additional investment in key infrastructure, like research
:04:52. > :04:56.and development, designed to increase the UK's productivity
:04:57. > :05:02.problem. This investment has to be spread across the whole of the UK
:05:03. > :05:06.economy to deliver improved productivity and economic growth
:05:07. > :05:10.across the economy as a whole. The investment is going in. Capital
:05:11. > :05:14.investment will be at a higher level in this Parliament as an
:05:15. > :05:22.announcement of this decision than it was before the financial crisis.
:05:23. > :05:28.Whilst the Government boasts about the speed of broadband and fibre
:05:29. > :05:33.broadband across the United Kingdom, there are many parts in my
:05:34. > :05:41.constituency we are sending mail by pigeon is quicker than by sending it
:05:42. > :05:46.via the fibre network. What action does he intend to take to ensure
:05:47. > :05:53.that rule areas where farmers and small businesses, and others who
:05:54. > :05:59.rely on digital means of communication will have a greater
:06:00. > :06:04.ability? I cannot speculate on how fast the pigeons are in the
:06:05. > :06:12.honourable gentleman's constituency. I can tell him that as a matter of
:06:13. > :06:17.right, all consumers have a right to 10 megabits broadband. 95% of
:06:18. > :06:24.properties by the end of this year will have access to 24 megabits
:06:25. > :06:28.broadband. The Government is investing more money in reaching the
:06:29. > :06:34.last 5%, be hard to reach of which are often in the country areas. In
:06:35. > :06:41.Scotland the original plan was for 95% coverage by the end of this
:06:42. > :06:46.year. Additional funding for rural areas, Wi-Fi for buildings, and now
:06:47. > :06:52.a target of 100% property coverage of superfast broadband by 2021.
:06:53. > :06:56.Given this should be a common endeavour, Canet has the Chancellor
:06:57. > :07:02.to welcome the steps in Scotland to deliver that performance so far and
:07:03. > :07:08.the targets set? We have got a UK wide target. We welcome any actions
:07:09. > :07:15.taken on top of that to achieve yet higher levels of broadband
:07:16. > :07:21.penetration. This is a positive move for the economies of the nations and
:07:22. > :07:25.regions. It is not simply the provision of the infrastructure, it
:07:26. > :07:29.is also appealing for the Digital usage as well. Can I asked the
:07:30. > :07:34.Chancellor to give a guaranteed to the House, when the UK Government
:07:35. > :07:38.enters Brexit negotiations, there will be no return to the
:07:39. > :07:42.super-expensive roaming the digital phone charges. For UK citizens
:07:43. > :07:49.living in the EU and for EU citizens are working in the UK. I hear his
:07:50. > :07:53.concern and I am absolutely sure that the vast majority of our
:07:54. > :08:00.constituents would agree with his suggestion that we should seek to
:08:01. > :08:05.maintain cost-effective access for UK phone users whenever they are
:08:06. > :08:13.roaming within the EU. That will be an issue for this Parliament, after
:08:14. > :08:16.Brexit, unless we choose with the UK -- with the exit negotiations to
:08:17. > :08:25.reach an agreement with the European Union. The Government is protecting
:08:26. > :08:29.the total core schools budget in real terms, is only possible through
:08:30. > :08:35.careful management of the economy. School funding is at its highest
:08:36. > :08:43.level ever, at almost ?41 billion. Spending will increase as pupil
:08:44. > :08:49.numbers rise to ?42 billion. Also delivering our manifesto commitment
:08:50. > :08:51.for feeder schools funding. It includes genderless transitional
:08:52. > :08:55.protections for schools who will see the funding will the just. The
:08:56. > :09:01.Government is considering replies and will respond in the summer. The
:09:02. > :09:04.2015 Conservative manifesto promised that the amount of money following
:09:05. > :09:09.your child into school will be protected. The National Audit Office
:09:10. > :09:15.found that schools face a real terms cut by 8% per pupil, even before the
:09:16. > :09:21.cuts and new national funding formula will come into 9000 schools
:09:22. > :09:23.in England. Will the Government confirmed that the Tory manifesto
:09:24. > :09:32.pledge on per-pupil funding is now in tatters? Not at all. We are
:09:33. > :09:36.protecting the total schools budget in real terms. And implementing our
:09:37. > :09:44.manifesto commitment to into just fairer funding. It is right that we
:09:45. > :09:50.do so. Clearly not protecting the people per capita funding in York.
:09:51. > :09:55.The seventh worst funded local authority currently with children
:09:56. > :10:03.will experience 288 per pounds being cut off the funding. How is that
:10:04. > :10:07.protecting the formula? I would expect how to share my view that it
:10:08. > :10:11.is not right that we fund the schools on the basis of what has
:10:12. > :10:15.happened historically. The bases should be that every pupil in
:10:16. > :10:21.England should be assessed on the same basis. It cannot be right for
:10:22. > :10:26.example that pupils in Hackney get 15% of more than pupils in Barnsley.
:10:27. > :10:33.That does not seem to be fair and that is right on the Government
:10:34. > :10:38.addresses at. The Government is supporting economic growth across
:10:39. > :10:42.the entire country as a key part of productivity agenda by investing in
:10:43. > :10:47.infrastructure and skills and by developing our industrial strategy.
:10:48. > :10:51.In the Autumn statement I launched another powerhouse strategy. And set
:10:52. > :10:56.out our Midlands engine strategy. Reasonably allocated another one
:10:57. > :11:01.point billion pounds the local growth fund and an initial charge of
:11:02. > :11:08.?185 million of local transport funding across the English regions.
:11:09. > :11:16.Will my right honourable friend look at the potential to extend free
:11:17. > :11:19.ports across the UK for free trade zones to create trade, create
:11:20. > :11:20.manufacturing jobs and pushed regional growth, all key part of
:11:21. > :11:29.local asperity. The Government will consider all
:11:30. > :11:34.options which have the potential to support our ambition to see Britain
:11:35. > :11:38.a great global trading nation. However, we will need to consider
:11:39. > :11:42.carefully not only the advantages that free ports can deliver, but
:11:43. > :11:49.also the costs and potential risks associated with them before making
:11:50. > :11:53.any decisions. Thank you Mr Speaker. For towns and cities in our economy,
:11:54. > :11:56.including in the north of England, to flourish, we needs banks and
:11:57. > :12:01.building societies that support them. Will the Chancellor join
:12:02. > :12:07.Mehmeti in saying that banks and building societies should keep their
:12:08. > :12:09.branchs open in our local constituencies, including my own
:12:10. > :12:14.constituency, where Leeds Building Society is closing a branch
:12:15. > :12:20.following the closure of HSBC branch and Yorkshire in the last two years.
:12:21. > :12:23.Of course, we want a viable branch banking network across the country.
:12:24. > :12:28.We have to recognise that the nature of banking is changing. More and
:12:29. > :12:31.more of us are using online, digital banking and that is bound to be
:12:32. > :12:36.reflected in the configuration of the branch networks that the banks
:12:37. > :12:40.operate. Mr Speaker, as the entrepreneurial
:12:41. > :12:43.heart of England, Buckinghamshire provides an excellent bridge to the
:12:44. > :12:48.East Midlands and beyond, will my right honourable friend look at how
:12:49. > :12:52.investment in Buckinghamshire will stimulate growth throughout the
:12:53. > :12:57.country outside London and the south-east. I am sure you will be
:12:58. > :13:00.delighted that my honourable friend has lighted onned this key role for
:13:01. > :13:04.Buckinghamshire as a bridge between the north, the south, the east, the
:13:05. > :13:10.west and every other part of the country. I would be happy to receive
:13:11. > :13:16.and I confidently predict that I will receive my honourable friend's
:13:17. > :13:20.detailed submission on the case for greater information investment.
:13:21. > :13:26.THE SPEAKER: Careful what you wish for Sir. Independent analysis says a
:13:27. > :13:32.hard Tory Brexit could cost 80,000 jobs in ten years in Scotland and a
:13:33. > :13:36.5% drop if GDP. Why has the UK Government failed to produce a
:13:37. > :13:41.comprehensive impact assessment of a hard Tory Brexit or for some reason,
:13:42. > :13:47.is now not the time? Mr Speaker, the Government is seeking, as was set
:13:48. > :13:50.out clearly in the Article 50 notice letter to negotiate a deep and
:13:51. > :13:56.special partnership with the European Union that will have at its
:13:57. > :14:01.heart a comprehensive Free Trade Agreement, covering goods, services
:14:02. > :14:05.and networks, allowing us to continue working very closely
:14:06. > :14:11.together with the European Union after we leave that organisation.
:14:12. > :14:15.And the Government does carry out detailed analysis to inform its
:14:16. > :14:24.negotiating strategy but I'm sure the honourable gentleman would not
:14:25. > :14:27.want me to reveal the outcome of that analysis, which would be of
:14:28. > :14:38.great use to our negotiating partners (Inaudible) Mr Speaker, in
:14:39. > :14:43.Corby there is a huge appetite for a new enterprise zone to further boost
:14:44. > :14:47.jobs and growth. What consideration has my right honourable friend given
:14:48. > :14:53.to introducing a new round of opportunities? Well, Mr Speaker, my
:14:54. > :14:57.honourable friend raises an important point, and I will
:14:58. > :15:01.undertake to look carefully at what he's suggested. There will no doubt
:15:02. > :15:04.be an exercise taking place over the next few weeks in thinking about
:15:05. > :15:13.what commitments we want to make for the future and I will take his
:15:14. > :15:18.question today as a representation. Mr Speaker, an important driver of
:15:19. > :15:22.economic growth within or outside the south-east is productivity,
:15:23. > :15:28.despite the Chancellor's rosy picture, the FT's chief economist
:15:29. > :15:32.says productivity is calamitous and has regionally widened. Who do we
:15:33. > :15:37.believe, a respected economist or the Chancellor? Well, Mr Speaker, I
:15:38. > :15:42.don't recognise the picture he paints of my position. I've stood at
:15:43. > :15:48.this dispatch box on countless occasions and lamented the fact that
:15:49. > :15:50.Britain has a poor productivity record, worse than Germany, worse
:15:51. > :15:54.than the United States, worse than France, worse than Italy. But simply
:15:55. > :16:00.lamenting that fact isn't enough. What we've got to do is put together
:16:01. > :16:04.a plan for tackling it. It will be - well he says seven years, Mr
:16:05. > :16:07.Speaker, the honourable gentleman from a sedentary position says seven
:16:08. > :16:11.years, if he checks the records, he will discover that this is a problem
:16:12. > :16:17.that's been going on for 40 years. It's a problem for 40 years. It
:16:18. > :16:22.would be better if we tried to tackle this challenge in a spirit of
:16:23. > :16:27.bipartisan recognition that there is a real problem here that we have to
:16:28. > :16:30.tackle. We have to tackle it by investment in infrastructure, by
:16:31. > :16:35.investment in skills and by actions to spread growth and prosperity
:16:36. > :16:43.across the country. Yes, seven years. Mr Speaker, whilst welcoming
:16:44. > :16:46.the ?6 billion investment for a new two-mile lower Thames crossing, how
:16:47. > :16:50.does such an imbalanced infrastructure spending help to
:16:51. > :16:56.close the economic gap of regions outside London and the south-east
:16:57. > :16:59.and doesn't this simply re-affirm the Government's pathological
:17:00. > :17:03.incapacity to see much beyond the M25 and of course, I'd be happy to
:17:04. > :17:06.buy him a sat nav if he wanted to take the opportunity to use it?
:17:07. > :17:10.Well, Mr Speaker, I'm not going to take any lectures from the
:17:11. > :17:14.honourable gentleman on regional awareness. But he maybe should speak
:17:15. > :17:17.to the Mayor of London who has a view on infrastructure investment
:17:18. > :17:21.and what should drive it. This Government is very clear that we
:17:22. > :17:26.need to spread infrastructure investment around the country in a
:17:27. > :17:30.way that will tackle the productivity challenge and one of
:17:31. > :17:34.the ways we will tackle that is by harvesting the benefits of our city
:17:35. > :17:41.regions in the West Midlands, in the northern powerhouse and elsewhere in
:17:42. > :17:45.this country, which evidence Kroos the -- evidence across the developed
:17:46. > :17:51.world can be major drivers of productivity improvement. That's
:17:52. > :17:55.what we've got to focus on. Mr Speaker, as the honourable gentleman
:17:56. > :17:59.may be aware the Ministry of Justice ran a consultation recently on this
:18:00. > :18:04.issue and received 853 responses in total. The Government response to
:18:05. > :18:11.the consultation was published on 17th March and is ongov.uk. The
:18:12. > :18:17.Government has set out the changes in that response. The majority of
:18:18. > :18:20.responses was against proposals. Access to justice should not depend
:18:21. > :18:24.on being rich. Unfortunately, this Government does not agree. It's
:18:25. > :18:28.intent on lessening access to justice bay greatly increasing court
:18:29. > :18:32.fees. The increase in probate fees is another stealth tax which will
:18:33. > :18:35.affect almost half the estates in England and Wales. It's an attempt
:18:36. > :18:40.to hide the massive cut in inheritance tax for its rich
:18:41. > :18:48.friends. Will this dying cut and run Government abandon its tax on access
:18:49. > :18:55.to justice? Well, Mr Speaker, we certainly don't recognise the
:18:56. > :19:02.characterisation of this proposed fee structure. This is about
:19:03. > :19:06.sustaining the justice stuckure. In fact more than half the estates in
:19:07. > :19:12.England and Wales will pay no probate fees at all. Number six Mr
:19:13. > :19:16.Speaker. I can reassure the honourable gentleman that the
:19:17. > :19:20.Treasury and the department for exiting the European Union are
:19:21. > :19:23.working closely on this issue. As we exit the EU we will look to
:19:24. > :19:27.negotiate the best deal possible so we can continue working together to
:19:28. > :19:34.maintain justice and security both in the UK and across Europe. Mr
:19:35. > :19:38.Speaker, the Panama papers showed thousands of UK based banks,
:19:39. > :19:43.accountants, lawyers and other intermediaries had helped set up
:19:44. > :19:47.shady and opaque corporate structures to handle illicit cash
:19:48. > :19:52.flows after registering in overseas territories. Almost a year on from
:19:53. > :19:59.the anticorruption summit will the minister submit to a public register
:20:00. > :20:01.of beneficial ownership for Crown dependencies and overseas
:20:02. > :20:07.territories? We don't have that ability. But I can say in March
:20:08. > :20:10.2017, last month, we published the draft money laundering regulations
:20:11. > :20:13.and announced plans for a new watchdog ensure supervisors and law
:20:14. > :20:18.enforcement work together more effectively. Since to 10, law
:20:19. > :20:23.enforcement have seized 1. 4 billion in illegal funds.
:20:24. > :20:27.Whilst the EU is to blame for many, many things, it is not to blame for
:20:28. > :20:30.money laundering. In fact, any solution that looks to the EU to
:20:31. > :20:34.solve money laundering is missing the point that it is an
:20:35. > :20:38.international problem. So will the minister confirm that he will be
:20:39. > :20:44.engaging internationally and not through the parochial lens of the
:20:45. > :20:48.European Union? We are, of course, Mr Speaker, a founding member of the
:20:49. > :20:51.financial action taskforce which sets international standards for
:20:52. > :20:55.anti-money laundering and counter-terrorism financing and
:20:56. > :21:01.after exiting the EU the EU will - the UK will continue to lead around
:21:02. > :21:07.the world. Number seven, Mr Speaker. We'll see
:21:08. > :21:10.how lucky, Mr Speaker. With your permission, I'd like to answer this
:21:11. > :21:14.question together with question eight. The Government has undertaken
:21:15. > :21:19.a significant amount of work to assess the economic and fiscal
:21:20. > :21:23.impacts of levering the EU and continues to carry out that work.
:21:24. > :21:30.This is part of a continuing programme of analytical work
:21:31. > :21:34.covering a range of possible exit scenarios, including sectoral
:21:35. > :21:37.analysis. We are seeking the best possible deal for the United
:21:38. > :21:41.Kingdom, recognising there say range -- there is a range of possible
:21:42. > :21:45.outcomes to the negotiations and the work being done reflects this. The
:21:46. > :21:49.Government is committed to keep Parliament informed but it would not
:21:50. > :21:54.be appropriate to publish analysis that would risk undermining our
:21:55. > :21:59.negotiating position. Mr Speaker, throughout the last seven years, the
:22:00. > :22:03.needs of the British people have had to play second fiddle to the needs
:22:04. > :22:09.of the Conservative Party. As a result of that, the Chancellor has
:22:10. > :22:12.been forced to disown the commitment of the manifesto commitment to
:22:13. > :22:16.balance the budget within this Parliament. Isn't the truth that
:22:17. > :22:21.today's announcement about a general election is another example of this
:22:22. > :22:25.Government putting the party's interest ahead of the country's
:22:26. > :22:34.interest at a time when there is a desperate need for stability in this
:22:35. > :22:38.country? In terms of the effect on the public finances Mr Speaker, the
:22:39. > :22:46.decision that the Prime Minister has made today is a decision made very
:22:47. > :22:50.much in the national interest to strengthen her hand as she goes into
:22:51. > :22:54.the negotiation with the European Union, to provide a clear mandate
:22:55. > :23:00.for the type of exit that she has set out in the letter she wrote to
:23:01. > :23:05.President Tusk two-and-a-half weeks ago and tone sure that the UK -- to
:23:06. > :23:09.ensure that the UK can negotiate its exit from the European Union,
:23:10. > :23:13.execute that exit and then transition to the new arrangements
:23:14. > :23:16.with a clear run before the next general election.
:23:17. > :23:22.After that party political broadcast on behalf of the Conservative Party,
:23:23. > :23:27.could I ask the Chancellor a very serious question. Many billions of
:23:28. > :23:31.pounds of EU structural funds are invested annually in the UK,
:23:32. > :23:38.particularly in our deprived areas and regions. Wales and Merthyr
:23:39. > :23:42.Tydfil have benefitted from this funding. What steps will he be
:23:43. > :23:46.taking to replace this essential investment when we leave the
:23:47. > :23:49.European Union? Mr Speak, as we've said on many previous occasions from
:23:50. > :23:54.the dispatch box, we recognise that there will have to be alternative
:23:55. > :23:57.arrangements put in place. We will no longer be making large
:23:58. > :24:02.subscriptions, payments into the European Union. But on the other
:24:03. > :24:05.side of the equation, some of the funding which we have been receiving
:24:06. > :24:12.for many years, including the structural funds, we will no longer
:24:13. > :24:16.be receiving. That places the opportunity back in the hand of this
:24:17. > :24:23.House, this Parliament to decide how we should use our taxpayers funding
:24:24. > :24:25.to achieve the objectives of the UK Government and to achieve economic
:24:26. > :24:31.development in a way most appropriate for the UK. Thank you Mr
:24:32. > :24:37.Speaker. Does my right honourable friend look forward to getting net
:24:38. > :24:41.?10 billion a year into the scecker and does -- exchequer and does he
:24:42. > :24:45.note that the claims for tens of billions of euros in Brussels merely
:24:46. > :24:52.illustrates the financial incontinence on the continent. Mr
:24:53. > :24:57.Speaker, any Chancellor would always welcome any net tens of billions or
:24:58. > :25:03.any net billions from pretty much any source whatsoever. In terms of
:25:04. > :25:06.the numbers bandied around in Brussels, relating to the so-called
:25:07. > :25:12.exit charge, we should recognise these numbers for what they are - an
:25:13. > :25:15.opening Gambit in what will be a long and complicated negotiation,
:25:16. > :25:19.nothing more, nothing less. Does the Chancellor agree that whether inside
:25:20. > :25:23.or outside the European Union, the best way of delivering strong public
:25:24. > :25:27.finances is a strong economy supported by low tax and low
:25:28. > :25:34.regulation. Is that the future we can look forward to? The only way of
:25:35. > :25:39.delivering strong public finances is through a strong economy, with
:25:40. > :25:42.sensible and balanced regulation. We have a very large financial services
:25:43. > :25:48.sector in this country, very important contributor to our fiscal
:25:49. > :25:50.balances. Its success depends on us getting that regulatory equation
:25:51. > :25:55.exactly right. Too much regulation and we would drive away industry
:25:56. > :25:59.from London. Too little regulation and we may lose our reputation as a
:26:00. > :26:04.safe and secure place to do business. We have to get it right.
:26:05. > :26:08.The Chancellor recently said that Brussels had set out a very
:26:09. > :26:14.aggressive starting line on the UK's bill to quit the EU. Is the
:26:15. > :26:18.assessment he has made of the worst case scenario, reported to be in the
:26:19. > :26:19.region of 60 billion euros, and what impact will that have on public
:26:20. > :26:30.finances? I am not sure what the worst-case
:26:31. > :26:34.scenario she is talking about relates to. We have helped various
:26:35. > :26:38.figures bandied about in Brussels in terms of an exit charge. The work
:26:39. > :26:45.that the Government has been doing which I was asked about earlier, it
:26:46. > :26:50.relates to the economic and fiscal impact of different possible exit
:26:51. > :26:56.scenarios. The numbers bandied about in Brussels are a simple question of
:26:57. > :27:01.the potential demand. Which would be raised in the negotiating process.
:27:02. > :27:05.There simply that, a negotiating strategy. I agree with the
:27:06. > :27:10.Chancellor that one of the biggest contributors to the public finances
:27:11. > :27:14.is the tax revenue from the financial services sector. We have
:27:15. > :27:19.had the triggering of Article 50 and the white paper. Is he confident
:27:20. > :27:23.that this will not see a significant reduction in the loss of jobs or the
:27:24. > :27:29.loss of any major areas of financial activity? The negotiating strategy
:27:30. > :27:36.that we have set out and the objectives we have set out in the
:27:37. > :27:40.Article 50 letter would create an environment in which the financial
:27:41. > :27:44.services industry in the UK would be able, by and large, to be able to
:27:45. > :27:51.continue with the levels of commercial activity that currently
:27:52. > :27:55.takes place with the European Union 27. That depends on negotiating the
:27:56. > :28:01.right arrangements with the EU and it is essential we go into these
:28:02. > :28:06.discussions in a constructive manner, recognising there are issues
:28:07. > :28:11.on both sides and that the UK's financial services industry is an
:28:12. > :28:17.SF, not only of the UK but the entire continent. -- is an asset.
:28:18. > :28:21.Europe depends on those financial services. Can I thank the Chancellor
:28:22. > :28:25.for that and so and I share his assessment that there is a mutually
:28:26. > :28:30.beneficial deal with us and the EU, if the Government is able to deliver
:28:31. > :28:35.it. Can I ask to state unequivocally that as a result of a deal that the
:28:36. > :28:40.Government will seek to negotiate, they will be no significant loss of
:28:41. > :28:45.jobs from any financial institution, mole removal of citywide functions
:28:46. > :28:50.such as cleaning, and now the locations of any regulatory agency
:28:51. > :28:54.such as the European banking authority. The location of European
:28:55. > :29:04.Union agencies is a matter for the EU. We could not leave the EU and
:29:05. > :29:09.dictate whether it should locate its agencies in the future. The initial
:29:10. > :29:15.items on his list, it will be the objective of the UK Government going
:29:16. > :29:20.into the negotiations, to protect our financial services sector. Since
:29:21. > :29:24.the referendum, the Sterling depreciation has seen expos increase
:29:25. > :29:30.and the balance of trade bridges down to 5 billion in quarter four of
:29:31. > :29:37.last year. The Chancellor is -- has said he is not concerned with the
:29:38. > :29:41.exchange rate. Is he wrong? I have never said I am not concerned with
:29:42. > :29:45.the exchange rate. I said that the Government does not take a view what
:29:46. > :29:49.the appropriate exchange rate is, that is a matter for the markets to
:29:50. > :29:54.determine. I am sure he'll be delighted to note the Prime Minister
:29:55. > :29:58.in her statement this morning has sent Sterling up in the markets,
:29:59. > :30:02.demonstrating the confidence that the markets have in the future for
:30:03. > :30:12.this country under a Tory Government with a new mandate. As the
:30:13. > :30:20.honourable lady would expect given the emphasis that we have put in
:30:21. > :30:24.this Parliament, since 2010, and tackling avoidance and evasion. With
:30:25. > :30:27.regards to Treasury ministers discussions with European
:30:28. > :30:32.counterparts, I can confirm this is something we discuss on a regular
:30:33. > :30:36.basis. The Chancellor spoke at an informal meeting in Malta as part of
:30:37. > :30:44.his ongoing dialogue with EU colleagues. Everybody seems to have
:30:45. > :30:48.a nice time having conversations. As my opponent discovered when he came
:30:49. > :30:53.from Chelsea to soak my constituency. People in my part of
:30:54. > :30:58.the world work hard and pay taxes. Can the Minister try again and to
:30:59. > :31:02.give a proper answer to give an indication of what is happening up
:31:03. > :31:06.on an international level? The question is about what meetings have
:31:07. > :31:10.taken place and I plead guilty to answering as I was asked. If she
:31:11. > :31:15.wants details she can look at the many measures that are being put
:31:16. > :31:19.through since 2010 and in this Parliament already. If she wants to
:31:20. > :31:23.stick around for the Finance Bill second reading she will hear about
:31:24. > :31:29.more things that the Government has planned on cracking down on evasion
:31:30. > :31:35.and avoidance. Has the tax gap continued on the trajectory left by
:31:36. > :31:38.the last Labour Government, it would be ?47 billion and the public purse
:31:39. > :31:43.would be living billion pounds per over, as a result of the policies of
:31:44. > :31:50.this Government it is at its lowest level ever of 6 billion. Under some
:31:51. > :31:53.parties, talk is the best they can have on tax evasion and avoidance
:31:54. > :31:58.and it takes a Conservative Government to get something done
:31:59. > :32:02.about it? That is exactly right, Mr Speaker. This is something we have
:32:03. > :32:08.taken extremely seriously, the tax gap is one of the lowest in the
:32:09. > :32:15.world in the UK. It is transparent and well documented. HMRC has
:32:16. > :32:18.secured ?140 billion in additional tax revenue by tackling avoidance,
:32:19. > :32:28.evasion and noncompliance. The Government is keen to do more. Would
:32:29. > :32:32.you mind if I started by sending out my congratulations to Brighton
:32:33. > :32:40.Hove Albion on the promotion to the Premier league, an important part of
:32:41. > :32:42.the South East's economy. We allocated ?351 million to the
:32:43. > :32:47.south-east for the local growth fund and the south-east will benefit of
:32:48. > :32:53.over ?21 million from the coastal communities fund. I thank the
:32:54. > :32:57.Minister for his response and I congratulate Brighton Hove Albion.
:32:58. > :33:01.We have got under six miles of motorway in East Sussex and the
:33:02. > :33:05.Brighton Hove Albion Stadium is on one of the junctions. We need to
:33:06. > :33:07.make the south coast more economically viable and would you
:33:08. > :33:24.join with me in meetings Sussex MPs to discuss how to take this forward?
:33:25. > :33:36.I am fully aware of the problems on the A28 and A259 in my constituency.
:33:37. > :33:39.We recognise the importance of infrastructure provision in all
:33:40. > :33:46.regions of the United Kingdom. That is why the Autumn statement 2016, we
:33:47. > :33:49.had high-value economic infrastructure from the National
:33:50. > :33:55.productivity fund. We are committed to putting local and regional needs
:33:56. > :33:58.at the heart of this fund. We are spending ?1.1 million on local
:33:59. > :34:01.projects to improve existing transport networks which will
:34:02. > :34:08.deliver improvements to hundreds of roads. -- one 1p. But father helped
:34:09. > :34:14.in my right honourable friend give to infrastructure project in
:34:15. > :34:20.Southend West, including the A127 corridor improvement works. He is a
:34:21. > :34:25.tireless advocate for the case for Southend. We met in November to
:34:26. > :34:31.discuss these issues. The Government has important -- supported
:34:32. > :34:36.improvements to the A127 with over ?30 million of local growth funding.
:34:37. > :34:40.Local authorities will have the opportunity to bid into the local
:34:41. > :34:47.transport pot as part of the national productivity investment
:34:48. > :34:53.fund. I welcome the investment in the electrification of the real line
:34:54. > :34:58.between Manchester and Preston. What more can the Chancellor do to ensure
:34:59. > :35:04.we have the vital road links, such as the Wes Horton bypass? The
:35:05. > :35:08.Government is investing over ?30 billion on transport projects in the
:35:09. > :35:12.north and supporting local schemes such as the Manchester Airport
:35:13. > :35:18.relief road and the Heysham M6 Link road. The Government is looking at
:35:19. > :35:25.the highways England north-west quadrant that should ease congestion
:35:26. > :35:30.in places like Wes Horton. This Government cannot pretend that they
:35:31. > :35:33.are interested in infrastructure outside of London and the
:35:34. > :35:38.south-east. We only need to look at transport spending to prove this. In
:35:39. > :35:44.London, transport spending is ?1000 per head, in the North East it is
:35:45. > :35:50.not even ?300. This shows the record and the priorities of the
:35:51. > :35:55.Government. As I said, we are investing over ?13 billion on
:35:56. > :36:00.transport projects in the North. HS two will benefit the north of
:36:01. > :36:07.England. And we make no apologies for wanting to ensure that we invest
:36:08. > :36:13.in Crossrail to deliver for London and the entire United Kingdom
:36:14. > :36:19.accordingly. Ahead of the last general election, the Conservative
:36:20. > :36:24.ministers were committed to elect location of the Leeds and York line.
:36:25. > :36:29.Will they do any better after this election and will we see the
:36:30. > :36:33.electrification of this line? Because we are investing in
:36:34. > :36:38.infrastructure, we already has significant plans on infrastructure.
:36:39. > :36:42.Before the Autumn statement which involved further investment, that
:36:43. > :36:47.does give us scope to improve transport infrastructure. Aggregate
:36:48. > :36:57.investment and infrastructure will rise by almost 16% between 2016-17
:36:58. > :37:01.and 2021. As a Huddersfield Town fan can I congratulate Brighton Hove
:37:02. > :37:06.Albion, once we triumph at Wembley in the play-off final, we look
:37:07. > :37:16.forward to meeting you in the premiership next season. As the new
:37:17. > :37:19.trains to replace have came forward, HS3 is developed, can we make sure
:37:20. > :37:26.that connectivity between northern towns is developed? Not just the
:37:27. > :37:35.great cities of the North. My honourable friend makes a really
:37:36. > :37:38.important pound -- important point. It is worth pointing out that we're
:37:39. > :37:43.putting local and regional needs at the heart of financial productivity
:37:44. > :37:49.and the investment fund. That is why we are spending ?1.1 billion on
:37:50. > :37:53.local projects to improve transport networks. I congratulate his local
:37:54. > :38:00.team on his success and I hope he will congratulate the congratulating
:38:01. > :38:05.liberating SC who have also gained promotion. There is no doubt an
:38:06. > :38:10.engineering feat, it cost more than one third of Scotland's national
:38:11. > :38:20.budget, when we'll be seeing more devilish destruction funding? --
:38:21. > :38:26.infrastructure funding. It is the case that Scotland benefits from the
:38:27. > :38:35.Barnett Formula consequential is such as HS2. HS2 does provide a
:38:36. > :38:39.change in conductivity across the East Coast corridor. It will bring
:38:40. > :38:44.significant benefits to the UK economy. We can only afford to spend
:38:45. > :38:51.money on infrastructure if we have got a stable and strong economy to
:38:52. > :38:56.deliver it. The Government has carefully considered the evidence
:38:57. > :39:00.for applying 5% reduced rate of VAT on visitor attractions. This is
:39:01. > :39:04.something that is came up a number of times in this House. We do
:39:05. > :39:07.believe that on balance the cost to do so will outweigh the benefits.
:39:08. > :39:12.They keep all of these things under review but there are no plans for
:39:13. > :39:17.reductions in the rate of VAT for tourism activity. It was a
:39:18. > :39:25.disappointing answer. The campaign for VAT into tourism estimates that
:39:26. > :39:30.a 5% rate would produce a higher tax income and create 121,000 jobs
:39:31. > :39:34.across the country. It would be of benefit to many coastal and island
:39:35. > :39:39.communities which are economically fragile. Will the Minister meet the
:39:40. > :39:43.campaign to discuss this in detail? I am familiar with the figures he
:39:44. > :39:47.gave to the House. Treasury officials have met some of those
:39:48. > :39:52.campaigning over the number of years to look at these figures. We will
:39:53. > :39:59.always look at evidence. We disagree with the campaign's economic
:40:00. > :40:02.assessment. Such a cut would cost around ?10 billion per year,
:40:03. > :40:06.approximately 7 billion for restaurants and bars and 3 billion
:40:07. > :40:11.for leisure and accommodation. What further steps are being taken to
:40:12. > :40:15.support the tourist industry, especially in places like Congo with
:40:16. > :40:21.it is important to our local economy? -- Cornwall. There are
:40:22. > :40:26.various ways we would support the sector. The sector is doing very
:40:27. > :40:30.well. We are seeing increases in the number of tourists. I know he is an
:40:31. > :40:35.advocate for his region. It is one of the highest performing sectors in
:40:36. > :40:40.the accordingly. The UK has happened -- as one of the highest VAT
:40:41. > :40:48.registration officials in the EU. It provides goods and services to
:40:49. > :40:52.tourists who do not charge VAT. In particular reference to that, does
:40:53. > :40:58.the Minister recognise the additional disadvantage that the
:40:59. > :41:02.tourism industry in Northern Ireland faces, particularly in border
:41:03. > :41:07.constituencies like my own, given that the rate of VAT on tourism in
:41:08. > :41:15.the Republic of Ireland sets at 9% and ours is 20%? We explored those
:41:16. > :41:18.issues where they gave evidence to the Northern Ireland Select
:41:19. > :41:23.Committee. I know what she is alluding to. To give one example,
:41:24. > :41:28.the decision to focus on investment and infrastructure in the Autumn
:41:29. > :41:31.statement will see an increase of ?250 million to the Northern
:41:32. > :41:34.Ireland's executive capital budget which will give them the means to
:41:35. > :41:39.produce -- promote regional growth in Northern Ireland.
:41:40. > :41:47.In England and Wales the Government is investigating almost 1. 3 billion
:41:48. > :41:52.in City Deals for Glasgow, Aberdeen, Inverness, Cardiff and swansies. It
:41:53. > :41:57.is discussing further deals. -- Swansea. On that specific point, Mr
:41:58. > :42:01.Speaker, will the minister guarantee that the City Deals, specifically
:42:02. > :42:05.for Edinburgh and my own constituency in East Lothian will
:42:06. > :42:09.neither be aborted nor substantially delayed by the calling of the
:42:10. > :42:14.general election? What I can guarantee is that it's about time
:42:15. > :42:18.the SNP start delivering for the people of Scotland. The level of
:42:19. > :42:24.growth in Scotland is one quarter of that in the UK. Mr Speaker, the
:42:25. > :42:29.minister will be aware of the difference that we made by the new
:42:30. > :42:32.hi-tech centre in digital at South Devon college, which has been
:42:33. > :42:37.supported by the third round of growth funding. Would he agree that
:42:38. > :42:41.this facility makes the college an ideal place to be one of the first
:42:42. > :42:51.to offer the new T level. Yes, I do absolutely agrow that it would be an
:42:52. > :42:58.ideal place for the first stream. Thank you Mr Speaker. In terms of
:42:59. > :43:01.Ayrshire growth, when is the UK Government going to consider that
:43:02. > :43:07.seriously. In terms of delivery, it's the UK Government's holding
:43:08. > :43:10.that back. This Government is focussed on
:43:11. > :43:14.delivering the existing deal. If they want to do something in
:43:15. > :43:17.addition then it is within their power to do so.
:43:18. > :43:31.Question 16. The UK has spearheaded improvements
:43:32. > :43:34.in the transparency of beneficial ownership information. HQ Iraq is
:43:35. > :43:38.building a register of trust with tax consequences. It will improve
:43:39. > :43:45.transparency and assist law enforcement agencies. Thank you Mr
:43:46. > :43:50.Speaker. We are now a year on from the anticorruption summit. Will the
:43:51. > :43:54.UK now ensure that the overseas territories and Crown dependencies
:43:55. > :44:00.also have public registers of beneficial ownership? What I can say
:44:01. > :44:03.is that we will carefully consider the commission's proposals for a
:44:04. > :44:06.broader register. If they go forward, the Government will consult
:44:07. > :44:15.on what this should look like after the negotiations have concluded.
:44:16. > :44:17.Thank you Mr Speaker. Number 17. The Government recognises the challenge
:44:18. > :44:21.that Britain's productivity performance represents. It is
:44:22. > :44:26.resolved to tackle this issue. Last year, at the Autumn Statement we
:44:27. > :44:29.launched the national productivity reality fund to provide ?23 billion
:44:30. > :44:34.worth after digsal spending focussed on areas key to boosting
:44:35. > :44:40.productivity at the budget we went further investing an additional ?500
:44:41. > :44:45.million in technical education. With the average worker spending 23%
:44:46. > :44:50.of their day on e-mail, what assessment has the Government made
:44:51. > :44:54.of increasing reliance on e-mail store and productivity. I think what
:44:55. > :45:00.I would say to my honourable friend is particularly in the context of
:45:01. > :45:07.the public sector, we have an ongoing efficiency review. Where we
:45:08. > :45:14.can find areas to improve efficiency and ensure that everyone becomes
:45:15. > :45:16.more productive we will look to take those offers.
:45:17. > :45:21.THE SPEAKER: If the honourable member wishes to come in on question
:45:22. > :45:24.17, he's welcome so to do. Thank you Mr Speaker. What assessment has the
:45:25. > :45:35.minister made of current employment in Northampton? Well, what I can say
:45:36. > :45:40.is that at 84. 4% the employment rate in Northampton south is the
:45:41. > :45:45.17th highest out of all 632 constituencies across the United
:45:46. > :45:48.Kingdom. There are 3,000 more people who work in Northampton south over
:45:49. > :46:04.the past year alone and 4,000 more than in 2010. Small businesses -
:46:05. > :46:07.THE SPEAKER: Well done, man. Well, Mr Speaker, the Government, as the
:46:08. > :46:10.Chancellor mentioned, have undertaken a significant amount of
:46:11. > :46:15.work to assess the economic impacts of leaving the EU. It's part of our
:46:16. > :46:18.continuing programme of rigorous and extensive analytical work covering a
:46:19. > :46:23.range of scenarios as the honourable member would expect sector by
:46:24. > :46:27.sector. Small businesses, manufacturing car
:46:28. > :46:32.ponents in my constituency are hugely concerned that if post Brexit
:46:33. > :46:36.this country has to revert to the World Trade Organisation agreement,
:46:37. > :46:41.which would mean increased car Tiff cost and further regulation. It
:46:42. > :46:44.could impact on the viability of the booming motor industry. What
:46:45. > :46:49.assessment has the Chancellor made of this impact? Mr Speaker, you
:46:50. > :46:52.know, Treasury ministers and ministers right across Government
:46:53. > :46:55.are speaking to businesses, individual businesses and sectors
:46:56. > :46:59.all the time to understand their concerns about these sorts of
:47:00. > :47:03.issues. We're seeking the best possible deal for the UK and all the
:47:04. > :47:06.work being done reflects this, including understanding how we can
:47:07. > :47:13.respond to those concerned to get a great deal. My priority is to ensure
:47:14. > :47:16.that the economy remains stable and resilient as we conduct our
:47:17. > :47:20.negotiations with the European Union. That means building upon this
:47:21. > :47:24.Government's achievements in reducing the deficit by two thirds
:47:25. > :47:30.and getting unemployment down to the lowest rate since the 1970s, while
:47:31. > :47:32.at same time, tackling the long-term challenges of productivity
:47:33. > :47:35.enhancement and making steady progress towards our goal of a
:47:36. > :47:40.balanced budget. I'm pleased to be able to tell the House in the last
:47:41. > :47:50.few minutes, the IMF has upgraded its UK growth forecast for 2017 by
:47:51. > :47:54.0. 5% to 2%. Farms and other agricultural businesses are often
:47:55. > :48:01.deterred from making investments in new buildings and infrastructure
:48:02. > :48:04.because of a very complex system capital allowances. Will my right
:48:05. > :48:08.honourable friend look at this issue, particularly in respect of
:48:09. > :48:14.giving the sector a boost in the wake of Brexit? Mr Speaker,
:48:15. > :48:17.alcultural land hand buildings are exempt from business rates. I know
:48:18. > :48:23.my honourable friend was speaking about the capital allowances. We are
:48:24. > :48:28.committed to a capital gains tax system that supports growth across
:48:29. > :48:33.the economy. At the budget we reduced the CGT rates to 20% and
:48:34. > :48:37.from 18% to 10% for gains on most assets. Owners of agricultural
:48:38. > :48:41.businesses benefit from the same rates as other business owners. Mr
:48:42. > :48:48.Speaker, as you know this morning the Prime Minister's called the
:48:49. > :48:55.general election. She's breaking her commitment to not hold an early
:48:56. > :48:57.election, made only weeks ago. She's blamed Brexit, our European
:48:58. > :49:02.neighbours, she's blamed the parties on these benches, but the real truth
:49:03. > :49:06.is that after seven wasted years of failure under the Tories, they've
:49:07. > :49:10.failed to close the deficit, they've add 700 billion to the national
:49:11. > :49:14.debt, pay is falling behind prices, four million children are growing up
:49:15. > :49:18.in poverty, our schools are in crisis, more people than ever on NHS
:49:19. > :49:23.waiting lists, more families homeless, more elderly people not
:49:24. > :49:27.getting the care they need. Will the Chancellor use this last opportunity
:49:28. > :49:30.before the election to apologise to the British people for the utter
:49:31. > :49:36.failure of this Government's economic policies and for the pain
:49:37. > :49:39.he's inflicted on this country? Well, Mr Speaker, the honourable
:49:40. > :49:44.gentleman's got some brass neck to stand there and accuse us of having
:49:45. > :49:49.failed to eliminate the deficit, when his policy is to add another
:49:50. > :49:53.?500 billion to it overnight. The British people understand very well
:49:54. > :49:57.what is going on here. A Conservative Government, which is
:49:58. > :50:01.maintaining growth, which has got unemployment down, record levels of
:50:02. > :50:06.employment and a steadily closing deficit and a Labour Party which
:50:07. > :50:13.remains as fiscally incontinent as ever. If given a chance would wreck
:50:14. > :50:19.this economy once again. Here we have it Mr Speaker, not one word of
:50:20. > :50:22.apology. No contrition whatsoever from a Chancellor who's broken his
:50:23. > :50:26.promises to the British people and still failing to deliver on a
:50:27. > :50:35.manifesto elected only 23 months ago. They're entering this election
:50:36. > :50:39.having scheduled ?70 billion worth of tax giveaways for whom? For the
:50:40. > :50:43.super rich and for the corporations of the next five years. They're
:50:44. > :50:47.entering an election with a 2 billion unfunded black hole in the
:50:48. > :50:52.budget. The Chancellor delivered only a few weeks ago. Will the
:50:53. > :50:58.Chancellor now use this opportunity before the general election to put
:50:59. > :51:06.on record his party will rule out raising VAT, rule out raising income
:51:07. > :51:10.tax and will he commit unequivocally to support education to protect the
:51:11. > :51:13.triple lock. If the Tories can't be straight with the British people,
:51:14. > :51:19.Labour will be. The truth is promises made from that
:51:20. > :51:23.side of the House are not worth the paper they're written on and the
:51:24. > :51:27.voters of this country, the pensioners of this country, the
:51:28. > :51:31.workers of this country understand that very well and they'll give
:51:32. > :51:35.their verdict on Labour's promises on June 8th.
:51:36. > :51:43.Can the Chancellor confirmed assuming the House votes for an
:51:44. > :51:47.election that he will seek to trunkiate the finance bill, remove
:51:48. > :51:51.the controversial measures in it and allowing everybody to focus on the
:51:52. > :51:54.economic issue which matters most to the next country over the next few
:51:55. > :51:59.months, which is which party can best be trusted to run the economy?
:52:00. > :52:03.Mr Speaker, I certainly agree with my right honourable friend on that
:52:04. > :52:08.last point. On the matter of process, assuming that the House
:52:09. > :52:11.votes in favour of my right honourable friend the Prime
:52:12. > :52:15.Minister's motion tomorrow, there will then be the usual end of
:52:16. > :52:19.Parliament process of negotiation with the official Opposition around
:52:20. > :52:24.measures that are currently before the House with a view to passing
:52:25. > :52:30.them in whatever form is appropriate. Given we are
:52:31. > :52:35.congratulating football teams I'm sure the House will want to join me
:52:36. > :52:39.and congratulate Hibernian football club. Mr Speaker, the Chancellor of
:52:40. > :52:44.the Exchequer has a brass neck when he talks about stable and resilient
:52:45. > :52:47.economy. When we look at the figures for money supply, the growth in
:52:48. > :52:50.money supply, trending around 6% is mainly due to an increase in
:52:51. > :52:54.personal borrowing and credit card debt. When are we going to have the
:52:55. > :52:57.fiscal measures to stimulate the economy rather than relying on this
:52:58. > :53:01.boom and bust that we're seeing again? Well, Mr Speaker, I can
:53:02. > :53:06.confidently predict to the honourable gentleman that after the
:53:07. > :53:11.general election on June 8, there will be a Budget in order to give
:53:12. > :53:15.him the answer that's he's seeking. You may be aware that Plymouth
:53:16. > :53:23.argyle was promoted yesterday as well. As my right honourable friend
:53:24. > :53:28.may be aware, I am the chairman of the all-party group for south-west
:53:29. > :53:32.rail. Last November the taskforce launched a report into the future of
:53:33. > :53:35.rail in the south-west with one key recommendation, that is for a
:53:36. > :53:40.resilient railway line through dualish. Will my right honourable
:53:41. > :53:45.friend confirm there is enough money in the kitty to deliver that and to
:53:46. > :53:50.make sure... Improved rail resilience in the south-west is a
:53:51. > :53:56.priority which is why we committed ?5 million in Budget ?2016 and #10e
:53:57. > :53:59.million -- ?10 million in Autumn 2016 to support this work. The
:54:00. > :54:04.Government will continue to work with Network Rail to develop options
:54:05. > :54:09.for future investment in the south-west in Network Rail's control
:54:10. > :54:13.period six. Mr Speaker, cooperatives and worker
:54:14. > :54:16.owned businesses tend to be more resilient and are more productive.
:54:17. > :54:20.Does the Chancellor agree that regulation in law should not
:54:21. > :54:26.disadvantage their development? Will the Chancellor consider redirecting
:54:27. > :54:29.tax incentives away from company executives and towards employees
:54:30. > :54:32.looking to buy their own work place? We're keen on employees having an
:54:33. > :54:36.opportunity to take a stake in the businesses that they work for. We
:54:37. > :54:41.will look carefully at any proposals which would tend to enhance
:54:42. > :54:46.productivity through incentivising and encouraging employees. Given the
:54:47. > :54:50.very large increase proposed for probate fees and given that deceased
:54:51. > :54:54.people have their bank accounts frozen, will the Chancellor look at
:54:55. > :55:01.allowing these fees to be paid after the estate has been wound up? Well,
:55:02. > :55:06.Mr Speaker, in most cases the Ministry of Justice expect that
:55:07. > :55:10.banks will release enough cash from the estate to pay the probate fee.
:55:11. > :55:15.The average estate is 25% cash. The Ministry of Justice is working with
:55:16. > :55:22.the British Bankers' Association and others to put such arrangements in
:55:23. > :55:26.place. Today we've heard a lot about stronger economy and the need to
:55:27. > :55:31.improve productivity, account Chancellor tell me what discussions
:55:32. > :55:36.he's had with Cabinet colleagues regarding skills and education
:55:37. > :55:41.funding? It leaves some concern when children in Blackburn are about to
:55:42. > :55:45.lose ?284 per head on what you call a fairer funding formula. The
:55:46. > :55:50.honourable lady will know my right honourable friend the Education
:55:51. > :55:55.Secretary is considering responses to the consultation on schools
:55:56. > :56:00.funding formula. At the Budget we announced a substantial increase in
:56:01. > :56:04.funding for technical education, 16 to 19, which will make an important
:56:05. > :56:11.contribution to improving the UK's productivity. Whilst the south-east
:56:12. > :56:15.is the financial powerhouse of the UK, there are nonetheless less
:56:16. > :56:18.prosperous areas like the Isle of Wight, what steps is my right
:56:19. > :56:23.honourable friend taking to ensure that the benefits of economic growth
:56:24. > :56:29.reach all corners and islands in the United Kingdom?
:56:30. > :56:36.I know my honourable friend regards the islands as important and I
:56:37. > :56:40.concur with him. The Government supports continued economic growth
:56:41. > :56:45.across the south-east, including more regions and Islands. They sold
:56:46. > :56:50.enterprise partnership is receiving over ?180 million from the local
:56:51. > :56:55.growth fund, investment for skills, business start-ups, with the Isle of
:56:56. > :57:02.Wight receiving about ?15 million of investment in infrastructure and
:57:03. > :57:07.skills. Will he give us assurance he will not submit to the outrageous
:57:08. > :57:11.demands from Donald Tusk, that Britain must pay ?60 billion before
:57:12. > :57:20.leaving the EU? There should be seen for what it is, an opening gambit in
:57:21. > :57:23.a long and complicated process. Coastal communities have enormous
:57:24. > :57:29.potential for sustainable economic growth in tourism and fishing
:57:30. > :57:32.sectors. Much work is being done but could he give an assurance that no
:57:33. > :57:39.stone will be left unturned to ensure the regions realise their
:57:40. > :57:44.full potential? I represent coastal areas and they will benefit from ?40
:57:45. > :57:50.million of investment from the local communities fund. We will make sure
:57:51. > :57:55.they get the best possible deal. Candide they charge that tell us
:57:56. > :57:58.what will be the first in the Tory manifesto, the Pledge on
:57:59. > :58:03.international aid spending, the triple lock, or the promise not to
:58:04. > :58:07.raise any new taxes? The honourable gentleman will have to contain
:58:08. > :58:14.himself and ready his money and he can buy a copy in due course. The
:58:15. > :58:18.taxpayer has benefited from the return to private ownership of
:58:19. > :58:24.Lloyds TSB... Can he provide an update on the sale of The Royal Bank
:58:25. > :58:30.of Scotland? We're making progress in realising our holdings in the
:58:31. > :58:36.banking sector. They continue the sale of shareholding in Lloyds which
:58:37. > :58:42.is down from 43% to less than 2%. Last month we sold ?12 billion of
:58:43. > :58:45.Bradford and Bingley mortgages in a highly competitive process. The
:58:46. > :58:53.Government is not at present actively marketing its stake -- its
:58:54. > :58:58.stake in RBS. We plan to return to private hens as sure as we can get
:58:59. > :59:04.fair value. -- private hands. To be below what the baby 's Government
:59:05. > :59:07.paid for them. We live in the real world and will have to make a
:59:08. > :59:15.decision in the best interest of taxpayers. In the real world, seven
:59:16. > :59:19.years ago, a Tory Chancellor stood out that the dispatch box and said
:59:20. > :59:27.we have to cut the money that every single local authority in Britain,
:59:28. > :59:35.by up to about 14%. The result is it was all because of getting rid of a
:59:36. > :59:43.deficit. Now, seven years later, that deficit is still more than ?60
:59:44. > :59:51.billion. Will he apologise to the people in Britain for that lousy
:59:52. > :00:01.mistake? It is still ?60 billion but it was ?200 billion when we
:00:02. > :00:05.started... Following the theme of the afternoon on football, I am sure
:00:06. > :00:09.everybody would wish to know that Cleethorpes town have finished as
:00:10. > :00:15.champions of the Northern counties East league. Even more people will
:00:16. > :00:18.want to travel to Cleethorpes. The infrastructure development we spoke
:00:19. > :00:26.about, can he give an assurance that all roads will lead to Cleethorpes?
:00:27. > :00:32.I will take that as representation for all those many fans wanting to
:00:33. > :00:39.get to Cleethorpes football ground. Can the Chancellor can that HMRC
:00:40. > :00:43.take eight months to fill a vacancy with the national minimum wage
:00:44. > :00:47.compliance unit and what will we due to resource list segment so workers
:00:48. > :00:54.can get a decent day's pay for a decent day's work? I will look into
:00:55. > :00:57.the specific issue. I wanted to be clear that HMRC investigates every
:00:58. > :01:06.report of violations of national minimum wage. We take it seriously
:01:07. > :01:09.and it is enforced. In my constituency, the public
:01:10. > :01:14.consultation on an enterprise zone or a business park, the Labour
:01:15. > :01:20.County Council have blocked it considerably. With the chance like
:01:21. > :01:22.to come to my constituency and listen to the constituents and what
:01:23. > :01:28.they are saying about having an enterprise zone? As it happens, I
:01:29. > :01:32.was planning my domestic travel arrangements for the next five weeks
:01:33. > :01:39.and I will take the request in mind when I do that. The law president of
:01:40. > :01:47.the Council and the Leader of the House will -- House of Commons. With
:01:48. > :01:52.permission I would like to make a short statement about the business
:01:53. > :01:57.for tomorrow. On Wednesday the 19th of April, the House will be asked to
:01:58. > :02:01.approve a motion that allows the Prime Minister to seek an early
:02:02. > :02:07.Parliamentary general election under the fixed term Parliaments act 2011.
:02:08. > :02:08.This will be followed by consideration of the