Finance (No.2) Bill

Our amendment would require the Chancellor to publish a review of the impact of an additional cut...

Can the Opposition really be interested in business when not a single Back Bencher is present to ...

I assure the hon. Gentleman that Labour Members are passionate about business and our policy of a...

I would be grateful if the hon. Lady explained how the Treasury should go about making the calcul...

I will come to the point about the different tax choices that we make and measuring their impact....

Will the hon. Lady acknowledge that the Government inherited plans to increase corporation tax fo...

I will come to the Government’s record in helping small and medium-sized enterprises.

As I ...

The hon. Lady seems to be arguing that banks should be less conservative, which implies a greater...

As I set out, the issue is not just the risk taken by the banks, which have been very conservativ...

Perhaps the hon. Lady will understand my confusion and clarify this point for me. She has spent m...

I assure the hon. Gentleman that it is not a matter of my personal disappointment. The Government...

Will the shadow Minister enlighten us on how the calculation of a £5,000 saving is made, and on w...

The hon. Gentleman is welcome to see our detailed calculations, which I can provide to him and ar...

rose—

I will not give way; I am going to make a little more progress.

As hon. Members will know, ...

The hon. Lady spoke very passionately, and rightly so, about her parents’ corner shop business, w...

I hear the hon. Gentleman’s point, which I will come to later in my remarks. On the action that t...

Is not the problem that a proposed tax increase sends a message that it is the thin end of the we...

I do not think it does send that message. Business people are much more sophisticated than that: ...

Given the extreme volatility of corporation tax collections for decades, how would the hon. Lady ...

I agree that business needs certainty. All our figures are based on analysis from the House of Co...

Under this Government, local authorities will be able to retain an uplift in business rates as pa...

Our policy is fully costed. We do not envisage any loss of revenue for local government. Our key ...

It is all very well for Labour to bash big businesses, but does the hon. Lady not understand that...

I am really disappointed that the hon. Gentleman has not been listening to my speech. At what poi...

On support for small businesses, does the hon. Lady regret the fact that when her party was in of...

What I primarily regret is that, as a result of the choices they made, this Government choked off...

I remind the House that I offer advice for an industrial company and an investment company, altho...

Does the right hon. Gentleman accept that the primary cause of that increase in revenue is income...

I do not accept that at all, because the revenue in the previous year was very similar to the fig...

Will the right hon. Gentleman explain where, following the rate change, this money has suddenly c...

We are talking about people who are a serious amount richer than any of us on MPs’ salaries, and ...

rose—

I will give way again, if the hon. Gentleman wants another go.

I do, because I want to explore the Arthur Laffer effect. The right hon. Gentleman seems to be sa...

The hon. Gentleman is now being completely stupid, is he not? There are two rates of tax that wil...

The right hon. Gentleman has made a case about corporation tax and about the top rate of income t...

It is clear from the figures that the raising of the rate to 20% increased revenue. Yes, there is...

Of course, companies often pay VAT before they even make a profit.

Indeed, there are timing issues with VAT, as the hon. Gentleman says, but I do not really see how...

It is a great pleasure to speak briefly in this debate. There is everything to be said for review...

Would the hon. Gentleman not accept that cutting the top rate from 83% to 40%, or from 98% to 40%...

We can argue about particular cases, but when we measure the impact of tax changes, we have to en...

As they were civilised people who did not need the money, all they had to do was give it away. Th...

The problem with charity is that only nice people give to it. The great thing about tax is that i...

The hon. Gentleman’s argument, interesting though at first it may appear, is totally busted when ...

I am one of those who would like to see a little more insulation between countries on financial m...

My hon. Friend talks about the tax gap. Whatever we believe the tax gap to be, everyone recognise...

My hon. Friend is absolutely right. I have called many times in this Chamber, including in the pa...

I have a lot of sympathy with the hon. Gentleman’s comments on HMRC staff, which I raise frequent...

I made exactly the same speeches when my party was in government. I demanded that the previous Go...

I note the hon. Gentleman’s comments on wanting to have more HMRC staff, but surely the most impo...

That is very welcome, but I do not believe in the immutability of a certain level of tax revenue ...

My hon. Friend has said that we should look at tax avoidance. There are negotiations between the ...

My hon. Friend is absolutely right. The recent head of HMRC is now a tax adviser to corporate com...

This is not the first time that I have agreed with the hon. Gentleman. It is important that taxes...

I am not an expert on tax codes, but taxation is too complex and could be made much simpler, alth...

I have thoroughly enjoyed the debate so far. I am astonished by the ground that we have covered, ...

Does my hon. Friend agree that it is often not an either/or situation? Small businesses often dep...

My hon. Friend is absolutely right. She gets to the heart of the debate and shows why Labour has ...

Will the hon. Lady give way?

No. We heard from the hon. Gentleman earlier.

The last Labour Government ignored the benefi...

It is an honour to follow the hon. Member for Witham (Priti Patel). I concur that it is great new...

Does my hon. Friend agree that a review would be important? A corporation tax cut would be welcom...

I agree with my hon. Friend. Government Members have said that amendment 2 would create uncertain...

I welcome the hon. Gentleman to the Chamber—this is the first time I have heard him speak. The am...

I thank the hon. Gentleman for his welcome. Most SMEs have fewer than 50 people working for them,...

It is a pleasure to speak in the debate. If there is one attraction to the amendment, it is that ...

Does my hon. Friend agree that the review could very usefully come up with a 20% capital gains ta...

A symmetry of tax rates would make perfect sense. Whatever form of income one had, one would know...

One of the issues in Britain is that not enough companies are starting up and then growing. One o...

My hon. Friend is exactly right. I think many Members, not least the Minister, know of my commitm...

The hon. Gentleman seems to be arguing that we might need a different policy mix for small busine...

I agree with the hon. Gentleman. There is eminent sense in having a lighter-touch tax regime for ...

Notwithstanding small business rates relief, does the hon. Gentleman accept that for a significan...

I might be tempted to agree that there is some merit in looking at the level of business rate cos...

My hon. Friend is making a very good speech, as he always does on these matters. Will he join me ...

I am always a little nervous talking about Hitachi and rail, as I am from Derbyshire. I support B...

Some people may be seduced by the idea that it is only 1%, going from 20% to 21%, but for corpora...

I am sure my hon. Friend’s maths are absolutely right.

If we are to review taxes and rates,...

For those who have already made the decision that they want to reduce corporation tax in this way...

Small businesses do not tend to pay so much in corporation tax. That is not the main burden they ...

I am glad that the hon. Gentleman is interested in business rates, the subject we are discussing....

Does the hon. Lady agree that there is some certainty on business rates because we have the cap o...

We must review constantly what we do to get it right. The suggestion is that a review in itself c...

The Labour Front-Bench team made a great deal of the need for banks to lend more money to small b...

We still see high levels of remuneration and bonuses at banks while small businesses are told tha...

Does my hon. Friend agree that it is interesting that Conservative Members are talking about a 20...

Value added tax has been a difficulty for a lot of individuals and for small businesses. The amen...

It is a great pleasure to serve under your chairmanship, Ms Clark, and to respond to the first of...

The Minister recounts how the corporation tax rate has moved from 28p to 22p. During that period,...

The cuts in corporation tax were a central plank of the Government's economic strategy, a strateg...

As a champion of manufacturing, I would like to see more capital investment, but does the Ministe...

Indeed it has. I will say more about some of the other measures we are taking to make our tax sys...

According to a report in CityM this morning, the British Chambers of Commerce has said that we ar...

Indeed I did, and I heard the head of the BCC make the same point in a radio interview this morni...

The Office for Budget Responsibility has forecast that there will be no net increase in net trade...

Again, we are seeing movement in the right direction. In the Budget, the Chancellor announced add...

I think I am right in saying that the UK current account deficit has not been as bad as it is now...

The Government are taking steps to ensure that we can export more. We recognise that we need to e...

I do not think that the Minister has yet addressed the lack of balance in the growth that is bein...

As a result of our corporation tax reforms, businesses are moving their headquarters here. The no...

Does the Minister agree that increases in investment require consumption growth? Does he agree th...

Indeed I do. As ever, my right hon. Friend brings great expertise to the debate.

Clauses 5 ...

The Exchequer Secretary speaks about a positive business environment. Business rates have increas...

It is worth pointing out that business rates have increased in line with RPI, which is exactly wh...

We have had a very good and interesting debate. I was a little horrified when the right hon. Memb...

I beg to move, That the clause be read a Second time.

With this it will be convenient to discuss:

Amendment 4, in clause 1, page 2, line 11, at e...

I am grateful to you for that clarification, Ms Clark.

New clause 4, tabled in my name and ...

Does the hon. Gentleman agree that it is the scale of the tax cut that is most galling for our co...

I can certainly assure the hon. Lady that not many people in Carmarthen East and Dinefwr are enjo...

It is not only the fact that income tax has been cut but that further cuts to social provision ar...

I am sure that my hon. Friend’s surgeries, like mine, are filled weekly with individuals who face...

The hon. Gentleman is making some good points. Does he agree that, while there are technical issu...

The hon. Gentleman always makes very intelligent points. I believe that he is talking about the L...

I am sure my hon. Friend will agree that what happened to the Labour party that evening was catac...

Unfortunately, I cannot enlighten my hon. Friend, other than to say that the Western Mail informe...

What credence does my hon. Friend give to the analysis that some high earners deferred declaring ...

That is an important point about forestalling, which I will talk about in more detail later.

Does the hon. Gentleman understand the disconnect between those who are super-wealthy and the arg...

That is certainly one argument, and I shall talk about how, with such an attitude, the super-weal...

The hon. Gentleman makes the point about the £9.6 billion. Is he aware that HMRC says that the ma...

That is a fair point. We are making the case for a review. Let us have the figures divulged furth...

Does the hon. Gentleman want a review or does he want a higher tax rate? What would he do if that...

That is a very valid intervention. My political position would be to support a 50p rate, but let ...

I agree with everything that the hon. Gentleman has said. If it were shown that an increased tax ...

That is the key point. If we have effective anti-evasion and avoidance measures, an increased rat...

It is a privilege to serve under your chairmanship, Ms Clark.

I represent areas that, I am ...

We touched on this issue in the earlier debate. The right hon. Member for Wokingham (Mr Redwood),...

I am following the hon. Lady’s argument about the tax changes, and I have two questions. First, d...

We have to be honest about the tax threshold. The primary driver behind the change is constantly ...

I am following the hon. Lady’s argument carefully, and she is straying from tax into welfare, whi...

The hon. Gentleman suggests that it is irrelevant to link welfare and tax, but I do not agree. We...

My hon. Friend makes a good argument. How much more does the increase in VAT affect people on low...

VAT, like a lot of indirect taxation, is extremely regressive. Before 2010, the hon. Member for R...

rose—

Order. I remind hon. Members that we are debating a possible 50p income tax rate. Could they try ...

I will do my best to abide by your ruling, Ms Clark—you probably want me to do more than my best....

I apologise for having left the Chamber. I had to address some young constituents.

The hon....

That is a very good question, but the fact is that we do not even know whether that is the way in...

Order. I remind the hon. Gentleman that we are debating the 50p tax rate. A number of Members sti...

The point I was trying to make, perhaps at too great a length, was that the important thing was t...

I apologise to the Committee for being absent earlier; I was with a group of young people from my...

I represent a constituency with similar income levels to that of the hon. Gentleman. However, doe...

I would never use that same phrase. I do not find myself intensely relaxed about this. Sorry, wha...

I rise to support amendment 4, which stands in my name and those of my right hon. and hon. Friend...

I think that my hon. Friend is suggesting that the Government have been soft on tax avoidance and...

I will come on to the point about tax avoidance. One option open to the Government to protect rev...

Will the hon. Lady give way?

I will not, because of a lack of time.

The HMRC report says that all the analysis and estim...

The hon. Lady is generous in giving way. When her party announced that it would reintroduce the 5...

Our analysis was based on projections that were available to us at that time, and on those projec...

It is a great pleasure, Mr Amess, to serve under your chairmanship. Before I deal with our annual...

Ministers have talked a lot about low incomes, and that is all very well, but is not the reality ...

That is not correct, because of the way we have done this. I will not spend a lot of time on the ...

Will the Minister correct what may be a misunderstanding? Is it correct that 13,000 people who ea...

Amendment 4 and new clause 4, tabled by Opposition parties, deal with familiar matters that we de...

I genuinely thank the Minister for trying to explain that to me, but he has just described the to...

Let me see if I can find a point of consensus with the hon. Gentleman. We want—and I suspect he w...

The Minister was generously trying to find a point of consensus and I want to build on that, foll...

I suppose we are talking about the people who for almost the entire time the Labour party was in ...

He is a Tory.

To be fair, Lord Jones was a Minister in a Labour Government. The Mail on Sunday has reported a k...

The hon. Gentleman gives us examples of people arguing that the policy is economically illiterate...

I am always grateful to the hon. Gentleman for his political advice. I cannot but notice that he ...

It is not for me to disagree with the mathematics of the hon. Member for Ogmore (Huw Irranca-Davi...

I suspect that my hon. Friend may well be right, so I am grateful to him on that point.

Cla...

We have had a very interesting debate. We heard excellent speeches from the hon. Members for Redc...

I have to report to the Committee that the tellers for the Noes in the Division on amendment 2 ha...

I beg to move, That the clause be now read a Second time.

It is a pleasure to serve under y...

The hon. Lady has given statistics showing what has happened since 2010. Did child care costs inc...

The point of putting the issue in context is that the rise in child care costs since 2010 is asto...

The point about children’s centres is really important. Many of those centres have simply reorgan...

The figure that I gave is correct. It is from the Government’s own database, before they took it ...

Government Members might like to know that Salford city council, owing to the budget cuts amounti...

Yes, I agree that it is important that Government Members stop being in denial, because it will b...

Does the hon. Lady agree that for many people with children if they did not have their grandparen...

The hon. Gentleman raises an important point. There is a heroic army of grandparents out there pr...

While it is right to recognise that families will decide on the best ways of making arrangements ...

My hon. Friend raises an important point. There is a multitude of reasons why we should support p...

Does the hon. Lady genuinely think it is realistic and practical to implement that policy right n...

The amendment is perfectly reasonable. I know the hon. Lady cares about this issue and I am sure ...

Does the hon. Lady acknowledge that the Government announced in the Budget that the tax-free chil...

I appreciate the hon. Lady’s point, but that help for families will not arrive until 2015 and bey...

Will the hon. Lady tell us whether that analysis includes fuel duty? Does she agree that if this ...

On average, by the time of the next general election, a family in which both parents are working ...

Will the hon. Lady give way?

I will give way to the hon. Lady, who I am sure is as disappointed as I am by that policy.

Will the hon. Lady confirm what the top rate of tax was during the last 10 years of the Labour Go...

The hon. Lady is well aware that we have a budget deficit that needs to be addressed. This Govern...

The hon. Lady is being very generous in giving way. Will she welcome the fact that one of the maj...

Any good news on the economy will always be welcomed, not just by Members of this House but by th...

On the one hand, the hon. Lady seems to be bemoaning the soaring costs of child care, but on the ...

A family’s child care requirements are a family’s child care requirements. If somebody has to go ...

We have had this debate before in Westminster Hall. Does the hon. Lady not recognise that the num...

There are 3,000 fewer childminder places under this Government so I caution Government Members ab...

The hon. Member for Suffolk Coastal (Dr Coffey) is right: we have discussed these matters at leng...

My hon. Friend makes a powerful and heartfelt point and she touches on an important issue. We are...

I know that this is not an issue of party politics but a straightforward issue of quality, but I ...

I think we risk going down the road of debating the quality of child care and issues to do with O...

I recognise the hon. Lady’s genuine concern about working parents and her ambition that the Gover...

It is interesting that the hon. Lady mentions that, because I will quote directly on this issue a...

It is a pleasure to take part in this debate. It is always interesting to hear the hon. Member fo...

I should point out to the hon. Gentleman that it would be wrong not to acknowledge the great stri...

I am a generous person, I hope, and I recognise that there were benefits, but we have to look at ...

I certainly recall the efforts of Labour Members to try to sort out child care. I had two young b...

I am grateful for that robust intervention. There is obviously cross-party support for recognisin...

I am not knocking grandparents, who obviously play a valuable role in many cases, but there are s...

I appreciate that and I have looked at various parts of that evidence, but it is important to rec...

I challenge the concept suggested by Opposition Members with regard to formal versus informal chi...

I pay tribute to my hon. Friend for her work on “The 1001 Critical Days”, which highlights the im...

This is such an important issue that I hope we do not end up with a false party political divide....

I am moved to intervene as the chair of the all-party group on Sure Start children’s centres. I o...

There is cross-party support for all of that, because I agree that Sure Start was a revolution in...

That is such a sweeping statement. It completely undermines those women who choose to do the utte...

I will come to that point in a moment. I am saying not that women who want to stay at home and wh...

It is a great pleasure to follow the hon. Member for Hackney South and Shoreditch (Meg Hillier), ...

I just want to go back to the point about au pairs and others. Will the hon. Lady acknowledge tha...

Yes of course I agree. My point was merely that child care comes in all shapes and sizes. My real...

I thank the hon. Lady for being so generous with her time. Childminders have told me that their m...

I do not, but I can tell the hon. Lady that I have been lobbying the Minister, and telling him th...

I will make a brief contribution and put on record just how much progress was made under the prev...

It is a pleasure to serve under your chairmanship, Mr Amess, and I thank all Members who have spo...

The flexibility of provision is as important as the flexibility of payment. It is no good talking...

I take that point on board. I shall come on to talk about the number of child care places, but th...

What I meant was that the review would not require the Government to act on its findings. However...

I believe that some of those policy issues will come out in the debates that we are going to have...

This has been a well-considered and well-argued debate, but the essential facts remain. This Gove...

On a point of order, Madam Deputy Speaker. I would like to apologise for failing to inform the Re...

I thank the hon. Lady for that point of order. It is not a matter for the Chair, but I am sure th...