argyrotsipi/train-dataset huggingface dataset:
Income tax (charge) — House of Commons, 2020-03-17
Topic: Macroeconomics
Kevin Paul Hollinrake (Conservative, Centre-right): Yes, definitely. That will level up in the process, but we have to get private sector involvement. It is the private sector that creates jobs, not the public sector. That is a means to an end in terms of transport spending. We have to get the private sector to move into these areas, start up and scale up or expand their businesses I primarily want to talk about covid-19. We are talking about levelling up. If we are not careful with this, there will be levelling down, because the coronavirus will have a huge impact. We cannot even contemplate the size of the impact that this could have on our economy and business sector. This could be an existential crisis for hundreds of thousands of businesses. It is huge The situation is so fluid, but we need to give people confidence—and we are getting there—that we will support them through this crisis. I was heartened by the Chancellor talking at the Dispatch Box about what he has done so far and what he will do in future if that is not enough. He has spoken this afternoon about a massively enhanced package, and that is exactly what we need, because the scale of this is huge. Capital Economics does not give the rosiest outlook in its forecast of the economic situation in the UK. It predicts that there could be a 15% drop in gross domestic product within a three-month period. If we compare that with the great financial crash, we saw a 6% reduction in GDP over a few years from 2008 We need to say to businesses and consumers—and if we do not, it will cost us the amount anyway—what the German Finance Minister said a week ago: that, as far as possible, no company should get into existential trouble and no job should be lost as a result of this crisis. That is the message we need to get out. Macron has said the same thing, with a €300 billion guarantee that no firm will go bust due to social distancing.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Macroeconomics
Kevin Paul Hollinrake (Conservative, Centre-right): My right hon. Friend makes a very good point. One of the difficulties with the announcement last night was that it was not brought forward with a package of remediation or mitigation. I think that has come today, and clarity of that is very welcome We are going to need to pump hundreds of billions of pounds—not the odd billion, £5 billion or £10 billion—into the economy. I think the Chancellor has announced today £330 billion-worth of loans for the business sector, which is absolutely right, with £25,000 for businesses that are not insured for losses from business interruption, plus business rates holidays and three-month mortgage holidays, which is also absolutely right. If we talk about this in terms of hundreds of billions of pounds, the natural question is: where are we going to get that money from? This is a time when we have to set aside the fiscal rules. We will be paying for this anyway, in lost jobs and businesses, redundancy payments and reductions in tax receipts, if we do not put a huge fiscal stimulus into the system right now, so I welcome the measures from the Chancellor We need a few things in addition. We saw in 2008 that banks did not support businesses through that financial crisis—there is no doubt about it; in fact, quite the opposite. We need a commitment from the banks, UK Finance and the Treasury that they will continue to cash-flow businesses for as much as they need until they get through this period. To make sure that they do that, we should introduce emergency legislation to bring SME loans and financing commercial loans within the regulatory perimeter. That would mean that banks would have to have the oversight of the Financial Conduct Authority, and indeed of Members in this place, if they did not do the right thing through that period.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Macroeconomics
Peter James Guy Aldous (Conservative, Centre-right): I welcome the opportunity to speak in this debate. Last week’s Budget focused on two issues: the UK’s co-ordinated initial response to the serious threat posed by coronavirus to the UK economic outlook, and a significant increase in public spending to raise productivity, promote growth, and spread its proceeds to all corners of the UK—a process that has been dubbed "levelling up". That is particularly important in my constituency of Waveney, which is the most easterly constituency in the UK. I shall be focusing on the second issue, but such is the gravity of the first—it is increasingly apparent that this will not be a short-term blip—that the two issues are increasingly becoming intertwined It is right to increase public spending in this way, although it is not without risk. It is right because as we leave the EU, we need the economy to be firing on all cylinders, not spluttering along in third gear. Our productivity remains stubbornly low, and in many places our infrastructure is crumbling. We have a host of challenges to address, such as climate change and promoting the green economy, the crisis on the high street, and the urgent need to improve social mobility, so that young people, wherever they live and whatever their circumstances, have the opportunity to realise their full potential. Added to that cocktail, we must now support people and businesses to get through the enormous challenge of coronavirus It is important to emphasise the political case for this about-turn. The Brexit vote, which in many respects was repeated last December, was a cry for change. The UK economy as a whole has performed well over the past 40 years, but the proceeds of growth have not been evenly distributed, but rather concentrated in London and the south-east. For so many people, and so many communities, the improvement in our national economic performance has passed them by. They voted for a different way of doing things, and we must now deliver for them That different course is not without risk, and it is important that the Government provide reassurance that in the long-term, the UK is still committed to the sustainable and responsible management of our finances. When it comes to infrastructure, the right schemes must be chosen—not vanity projects, but productive and growth-enhancing schemes that are a catalyst for private sector investment. We must ensure that we have the capacity to deliver those projects: the right skills, enough engineers, project managers and planners, and a ready supply of steel, concrete and tarmac. If we do not do that, prices will escalate and schemes will not be delivered on time.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Transportation
Peter James Guy Aldous (Conservative, Centre-right): I agree with the hon. Gentleman to a large extent, and we need more companies to be investing in, and based in, the UK. It is important to have UK companies, but I am also proud when companies from around the world invest in the UK. That is something we should be pleased about Let me return to infrastructure projects and the need to have the right skills and supply of materials. In 2014, funding was provided for six schemes on the A47 from Lowestoft through Norfolk to Peterborough. Six years later, five of those schemes have yet to see any work starting on the ground. We must ensure that planning and legal frameworks are fit for purpose. The third crossing project in Lowestoft will bring about great positive change to the town. It is an oven-ready scheme—we are ready to go, yet we still await a planning decision that should have been made more than three months ago I wish to highlight three aspects of levelling up. First, coastal communities have been left behind in recent decades, but they have so much to offer to UK plc. In Lowestoft, there is a compelling case for investment in the port, which occupies a strategic location. It lies in close proximity to one of the UK’s most productive fishing grounds, from which, as we leave the EU, we have a great opportunity to land more fish and to revive the local industry.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Agriculture
Neil Quentin Gordon Parish (Conservative, Centre-right): There is a huge opportunity as we leave the European Union; we will gain much more fish for our fishermen. We must ensure that we not only land those fish but process them. We also need a great marketing ploy across the country to encourage people to eat many more different types of fish, so we do not have to export quite as much and we eat more of our own fish.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Environment
John Henry Hayes (Conservative, Centre-right): I wonder whether my hon. Friend might add to his thinking on this subject support for the internal drainage boards, which do such great work in the fens in particular, including in his constituency. Will he implore the Government to ensure that the Environment Agency works with the drainage boards rather than against them, as I am afraid it sometimes does?
Income tax (charge) — House of Commons, 2020-03-17
Topic: Environment
Peter James Guy Aldous (Conservative, Centre-right): I thank my right hon. Friend for that intervention. I have internal drainage boards in my constituency, although I sense they may not be such big players as those in the fens in his constituency. From what I see of them, however, they are the ones who know the local area best and are best placed to come up with tailored, bespoke solutions.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Transportation
Kevin Paul Hollinrake (Conservative, Centre-right): My hon. Friend briefly mentioned the Green Book. One of the reasons the A64 in my constituency has not been dualled is that, according to Highways England, it was competing with the Oxford to Cambridge corridor and the lower Thames crossing. How ludicrous is that? How easy would he feel explaining to his constituents that such an iniquitous situation is baked into the system for deciding where money is invested?
Income tax (charge) — House of Commons, 2020-03-17
Topic: Education
Peter James Guy Aldous (Conservative, Centre-right): I thank my hon. Friend for raising that issue. The Green Book is long overdue a complete overhaul. It has held back communities all around the country—those we are looking to help with their issues—for far too long. It is right that we are now getting on with giving it a complete, radical overhaul My second request to the Government is not to forget the east. Our region is a net contributor to the Treasury, notwithstanding that at present we get poor local government, education and transport funding settlements. With the right investment, we could deliver so much more. The New Anglia local enterprise partnership recently published its report "Delivering an infrastructure revolution in Norfolk and Suffolk", which outlines 12 connectivity infrastructure improvements that will boost productivity and make us global leaders in clean growth. I will not list the "clean dozen", but I urge the Government to study these compelling schemes closely and to respond positively The third aspect of levelling up is to highlight the threat to our towns and their high streets, which are the heart of local economies all around the UK. There is an urgent need for towns to reinvent themselves. With the towns fund, the Government have recognised that, and Lowestoft is one of 101 towns eligible to bid for money that can be used to promote change and attract inward investment. That needs to be accompanied by a comprehensive reform of, and quite probably a replacement for, business rates. It is good news that the Government are committed to a fundamental review, although we have been talking about that for a long time and we now need to get on with it Investment in bricks and mortar and in concrete and steel is very important, but it is investment in people that matters most. The fact that the Government recognise the importance of further education in achieving levelling up is extremely good news. The additional £1.5 billion for capital investment in further education colleges and the £5 billion national skills fund to improve adult technical skills are welcome, and it is very good news for colleges like East Coast College, which last week achieved a good Ofsted rating. Those announcements follow on from the increase in revenue funding for 16 to 18 education that was announced last autumn, although there is still some way to go to get that day-to-day funding up to a sustainable level that will enable colleges to provide the full education, training and support needed to properly prepare young people for the workplace In conclusion, I welcome the Budget and I support its ambitions. I believe we are pursuing the right course. That said, there are hazards, obstacles and pitfalls lying immediately in front of us. It is important that the Government are flexible, and prepared to adapt and vary policy to meet challenges that will suddenly present themselves.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Agriculture
Neil Quentin Gordon Parish (Conservative, Centre-right): Milton Keynes may not have much coastline, but it does have a lot of people. My hon. Friend could promote the great fish we catch all around our coast. I urge him to go out and feed his constituents with our great British fish.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Macroeconomics
Ben Everitt (Conservative, Centre-right): That is an excellent point and it is well made. The nutrition of the people of Milton Keynes is well served by the Chairman of the Environment, Food and Rural Affairs Committee We find ourselves in a strange situation in this Budget debate. It is almost as if the rules have changed. As I stand to speak, we are digesting the words of the Chancellor of the Exchequer, who has launched a £330 billion fiscal bazooka at the coronavirus to support our businesses, many of which are in my beautiful constituency. In that context, it feels odd to be talking about last week’s Budget. It was going to be the levelling-up Budget. It was going to be the got-Brexit-done Budget. It was going to be the Budget of infrastructure. Of course, it was the first-swing-at-corona Budget. As we look at it now, it was last week’s Budget. These are indeed strange times. However, I am sure that many Members on the Conservative Benches, and possibly some others, were struck by the optimism, hope and positive spirit of the Budget. It was enthusiastic about our future. While we deal with the sheer scale of the coronavirus outbreak, we should take some joy from the fact that this is a Government who are looking forward beyond the coronavirus and into a world where we have levelled up and we will have a more equal, more productive and more aspirant, tolerant society. It is a Budget of hope and positivity.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Macroeconomics
Ben Everitt (Conservative, Centre-right): My right hon. Friend refers to the bail-out of the banks over a decade ago, which cost our economy in the region of £860 billion. It proved 10 long years before we could get over its effects, during which the British people worked incredibly hard and everybody came together, putting us in a position now where we are dealing with the next crisis. Will we be left with a burden of debt? Undoubtedly. Is it the right thing to do? Given the context, it probably is Last week’s Budget was excellent for families, not just in my constituency, but across the country. As set out by the Chancellor of fiscal bazooka fame, it will level up the economy, raise our regions, increase investment and encourage growth across the country. On transport, I particularly welcome not the big flashy transport projects, but the smaller, almost overlooked projects that engage our transport networks on a more local level.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Macroeconomics
David Timothy Simmonds (Conservative, Centre-right): Like my hon. Friend, I welcome the wide range of investments, particularly in local transport, contained in the Budget. My constituency cannot boast an extensive coastal area, any more than Milton Keynes, although the outstanding natural beauty of the Ruislip lido, London’s only beach, is one of its most prominent features. I certainly urge all those with an interest in the coastal aspects of London to take an interest in that site To pick up on a point that several hon. Members have made, even London, which remains a buoyant part of the United Kingdom from the perspective of economic growth, high levels of employment and high levels of productivity, seems at risk of being overlooked in one key respect. It greatly concerns me that my in-laws, who live in the Chancellor’s constituency, are set to benefit significantly from the pothole fund. My parents in south Wales will also gain because of the Barnett consequentials. Does my hon. Friend agree that it is a shame, though, that there is no plan for London to benefit from the pothole fund, as is a reasonable expectation?
Income tax (charge) — House of Commons, 2020-03-17
Topic: Transportation
Ben Everitt (Conservative, Centre-right): The intervention may have been long, but it was well put and I appreciate it. In broad terms, my hon. Friend’s point was that we must not forget the other traditionally more productive parts of our economy. Interestingly, Milton Keynes is part of the south-east and people overlook the fact that we sit as almost the gateway to the north. A journalist from The Economist telephoned me last week and told me that Milton Keynes was the most productive part of the UK. I said, "Do you mean not including London?" and he said, "No. When you look at the OECD measures, they take in the whole of London, which includes the suburbs in Greater London, and actually, Milton Keynes comes out as more productive." I therefore welcome any intervention that draws attention to the fact that we should be investing in the productive parts of our economy as well as levelling up the slightly less productive parts I warmly welcome the £500 million to roll out a fast charging network for electric vehicles over the next five years, ensuring that drivers will never be more than 30 miles from a rapid charging station. During the general election I was privileged to have a visit from the Secretary of State for Transport. We visited a charging point so that he could charge his electric car—he is very on brand, is our Transport Secretary. After a photo-op, he said, "Show me some transport infrastructure that needs a bit of investment." I took him to junction 14 of the M1, which really does need an upgrade. We stood there, watching the traffic go past, and then we went to an island in the middle to make a little video, saying how much it needed an upgrade. Then, like life imitating art, we having stood there saying that the transport infrastructure needed an upgrade, suddenly all the world’s traffic came off the M1 and zoomed up junction 14. We were marooned on that island in the middle of an M1 slip road Now, our Transport Secretary, being an energetic fellow, cannot be held down for long. After a few moments he set off down the slip road, running—in fact, our Transport Secretary does not run; he scampers. Fortunately, my social media adviser was there to film the entire thing. He pulled out his camera just as our right hon. Friend was sprinting down the road, merging with the traffic in order to cross it. The video is available for parties, for a small fee.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Macroeconomics
John Henry Hayes (Conservative, Centre-right): As a Member who lacks a social media adviser, and as the pioneer of the Government’s electric car policy, I am delighted that my hon. Friend has welcomed the additional charging points, for which I take the lion’s share of the credit The point that my hon. Friend is making about productivity is critical. The Government’s commitment to skills and to research and development, through the Budget, will allow us to tackle the prevailing macro-economic challenge facing this country and most of the west: the productivity gap.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Transportation
Ben Everitt (Conservative, Centre-right): I thank my right hon. Friend for that intervention. Of course, the productivity gap is core to levelling up Speaking of gaps, I have to declare an interest before moving on to the next important section of my speech: I am a councillor. The next section includes the perennial election-winning issue of potholes. The Chancellor has announced additional funding—£2.5 billion over the next five years—to fill millions of potholes across the country, which will make a huge difference for the many people who spend hours each week travelling on poorly maintained roads. That will speed up journey times, reduce vehicle damage and make our roads safer The Government are investing record amounts in improving and expanding our transport infrastructure—triple the average of the past 60 years. The Chancellor has announced £640 billion of capital investment in roads, railways, communications, schools, hospitals and power networks over this Parliament. I know that many of my colleagues will join me in welcoming this investment not just for the large national infrastructure projects, but for local roads, regional railways and urban transport. We will be increasing bus journeys. We will be reducing the cost of transport for young people, workers and those in retirement. We will have a modern and well-maintained road network I am a big fan of this Budget, as Members have probably noticed, but there is one piece that I was surprised to see in there. It is my single criticism of the Budget, so please bear with me. The small print of the supporting documents for the Budget contained an allocation of £94.6 million for a housing infrastructure bid to build 5,000 homes east of the M1 in Milton Keynes. That housing infrastructure bid is an indicative commitment to fund, subject to continuing local commitment, which is how the bidding process works for housing infrastructure fund bids. "A continuing local commitment" is news to me. Anyone who looked at my postbag and my inbox would not find a continuing local commitment; they would find quite the opposite That is not to say that people in my constituency are anti-growth. Far from it: Milton Keynes is a growing place. It is growing because it is a great place in which to live and work, in which to grow a family and grow a business. However, we must have the right houses in the right place at the right time. There is a balance to be struck. We need to get this right. We have a choice between growing local jobs and becoming a dormitory. If we get the right houses in the right place at the right time, we will incentivise pure economic growth—local, productive growth—but if we get it wrong and build too many houses, Milton Keynes will be cursed by the very benefit of being only 32 minutes away from London on the train. If we build too many houses too quickly we will become a dormitory for jobs elsewhere, and that is not what we need.
Income tax (charge) — House of Commons, 2020-03-17
Topic: Education
Ben Everitt (Conservative, Centre-right): Absolutely. The point is well made, but I will not dwell on it, because, finally, I want to say this. We must also have the benefit of a university in our town, and I am proud to support a £100 million bid to make Milton Keynes a university town. The benefits will be fantastic With that I will sit down, having had a very good Budget, apart from that very small thing.