argyrotsipi/train-dataset huggingface dataset:
EU Referendum: Economic Situation — House of Commons, 2016-07-19
Topic: Macroeconomics
Questions: What assessment he has made of the (a) extent of and (b) economic effect of assets and capital being moved out of the UK as a result of the outcome of the EU referendum.; What assessment he has made of the near-term effect of the outcome of the EU referendum on economic confidence and growth in the UK.
Philip Hammond (Conservative, Centre-right): The hon. Gentleman is right; the figures that he quotes are right. The evidence is anecdotal in the early stages, as he would expect. As he would also expect, the initial response to this kind of shock must be a monetary response delivered by the Bank of England. In announcing that interest rates were not to be lowered last week, the Governor made it clear that the Bank is developing a monetary package that will be announced in due course.
EU Referendum: Economic Situation — House of Commons, 2016-07-19
Topic: Technology
Questions: What assessment he has made of the (a) extent of and (b) economic effect of assets and capital being moved out of the UK as a result of the outcome of the EU referendum.; What assessment he has made of the near-term effect of the outcome of the EU referendum on economic confidence and growth in the UK.
Philip Hammond (Conservative, Centre-right): I suspect that the founder of the company has not had the benefit of discussions with the acquiring company. I have met the leader of the current management team, who are wholeheartedly supporting the purchase by SoftBank. We have achieved some very hard guarantees—these were volunteered without our having to extract them—about the future autonomy of the company, headquartered in the UK, and about its commitment to double the number of UK employees over the next five years. What became very clear from a discussion with the founder and CEO of SoftBank is that it firmly believes Cambridge will be the global centre for developing the internet of things and ARM will play a key role in developing that industry.
EU Referendum: Economic Situation — House of Commons, 2016-07-19
Topic: Macroeconomics
Questions: What assessment he has made of the (a) extent of and (b) economic effect of assets and capital being moved out of the UK as a result of the outcome of the EU referendum.; What assessment he has made of the near-term effect of the outcome of the EU referendum on economic confidence and growth in the UK.
Andrew Tyrie (Conservative, Centre-right): I warmly welcome the Chancellor to his new role. It is probably the job he always wanted—unless of course he wants eventually to move next door. I note that to most questions so far he has said he is going to wait until the autumn statement, so I am hoping I get an answer to this one a bit earlier. Sticking to the fiscal surplus rule has rightly been scrapped by the previous Chancellor, and the automatic stabilisers have been allowed to kick in. The higher deficit implied by that decision will have to be plugged sooner or later. From 2010, the Chancellor’s predecessor planned an 80% consolidation of that to come from spending, with only 20% coming from tax. [Interruption.] There is a question coming, if hon. Members can be patient. Does the Chancellor intend to stick to his predecessor’s target of 80:20 or is he going to vary it?
EU Referendum: Economic Situation — House of Commons, 2016-07-19
Topic: Macroeconomics
Questions: What assessment he has made of the (a) extent of and (b) economic effect of assets and capital being moved out of the UK as a result of the outcome of the EU referendum.; What assessment he has made of the near-term effect of the outcome of the EU referendum on economic confidence and growth in the UK.
Philip Hammond (Conservative, Centre-right): My right hon. Friend will know that the surplus rule always came with the caveat that if the Office for Budget Responsibility forecast four rolling consecutive quarters of less than 1% annualised growth, the target would be suspended. The consensus among pretty much all forecasters is that that is likely to be what they forecast this autumn statement, so my predecessor’s announcement was merely pre-empting something that almost everybody expects to happen. I am afraid to tell my right hon. Friend the Member for Chichester (Mr Tyrie) that how we are going to respond over the longer term to the resulting deficit will be set out at the autumn statement.
EU Referendum: Economic Situation — House of Commons, 2016-07-19
Topic: Foreign Trade
Questions: What assessment he has made of the (a) extent of and (b) economic effect of assets and capital being moved out of the UK as a result of the outcome of the EU referendum.; What assessment he has made of the near-term effect of the outcome of the EU referendum on economic confidence and growth in the UK.
Jacob William Rees-Mogg (Conservative, Centre-right): Thank you, Mr Speaker. I congratulate my right hon. Friend on his appointment. I accept that that is not a question but a statement. May I go on to point out to him that Brexit provides a great opportunity? The £24 billion purchase of ARM by SoftBank is a sign of that. The trade deals that are being offered are a sign of that. Will he grasp this fantastic opportunity and lead us through to the "broad, sunlit uplands"?
EU Referendum: Economic Situation — House of Commons, 2016-07-19
Topic: Macroeconomics
Questions: What assessment he has made of the (a) extent of and (b) economic effect of assets and capital being moved out of the UK as a result of the outcome of the EU referendum.; What assessment he has made of the near-term effect of the outcome of the EU referendum on economic confidence and growth in the UK.
Philip Hammond (Conservative, Centre-right): My hon. Friend rightly points to the fundamental strengths of the UK economy. Britain is still one of the most attractive places in the world to do business, to start a business and to invest money, and it is right that we should focus on those positive aspects. But it is also right that we are conscious of the short-term turbulence that we will inevitably experience and of the need to manage that carefully over the next 18 months.
EU Referendum: Economic Situation — House of Commons, 2016-07-19
Topic: Transportation
Questions: What assessment he has made of the (a) extent of and (b) economic effect of assets and capital being moved out of the UK as a result of the outcome of the EU referendum.; What assessment he has made of the near-term effect of the outcome of the EU referendum on economic confidence and growth in the UK.
Lucy Claire Leigh (Frazer) (Conservative, Centre-right): I, too, welcome the Chancellor to his place. As has been mentioned, SoftBank has made a huge investment in a fantastic Cambridgeshire business. It has done that because Cambridgeshire is at the forefront of technology and innovation. The company has said, as the Chancellor has mentioned, that it is going to double the workforce. Cambridgeshire can continue to attract investment such as this only if we have the infrastructure to support it, so will he confirm that he will be committed to infrastructure investment in roads such as the A10?
EU Referendum: Economic Situation — House of Commons, 2016-07-19
Topic: Macroeconomics
Questions: What assessment he has made of the (a) extent of and (b) economic effect of assets and capital being moved out of the UK as a result of the outcome of the EU referendum.; What assessment he has made of the near-term effect of the outcome of the EU referendum on economic confidence and growth in the UK.
Philip Hammond (Conservative, Centre-right): My hon. and learned Friend is absolutely right; raising the UK’s productivity is the long-term challenge of our economy, and infrastructure investment is one of the ways we do that. I draw attention to another point: the success of Cambridge today, not only as a centre of academic excellence but as an innovation hub of global importance, has arisen because of the very foresighted decision of Cambridge City Council many years ago to allow development around the city and the creation of the Cambridge business park, which is now a world magnet for investment.
EU Referendum: Economic Situation — House of Commons, 2016-07-19
Topic: International Affairs
Questions: What assessment he has made of the (a) extent of and (b) economic effect of assets and capital being moved out of the UK as a result of the outcome of the EU referendum.; What assessment he has made of the near-term effect of the outcome of the EU referendum on economic confidence and growth in the UK.
Philip Hammond (Conservative, Centre-right): The hon. Lady is right to say that passporting is an important feature of the arrangements we have with the European Union. In the negotiations that we will have in the future with the European Union about Britain’s future relationship with it, protecting those rights for our very important financial services sector, which I should emphasise is not just about London—two thirds of financial services jobs in this country are outside London—will be a very important part of those negotiations.
EU Referendum: Economic Situation — House of Commons, 2016-07-19
Topic: Foreign Trade
Questions: What assessment he has made of the (a) extent of and (b) economic effect of assets and capital being moved out of the UK as a result of the outcome of the EU referendum.; What assessment he has made of the near-term effect of the outcome of the EU referendum on economic confidence and growth in the UK.
Philip Hammond (Conservative, Centre-right): No. The UK remains very much open to foreign investment, but we are very clear that we want investors who will invest in British technology, British jobs and businesses headquartered, based and directed from the UK. We are not open to asset-strippers.
Infrastructure Development — House of Commons, 2016-07-19
Topic: Transportation
David Michael Gauke (Conservative, Centre-right): There are 40 schemes in the west midlands in the infrastructure pipeline, with a total value of £7.6 billion. More than 300 infrastructure schemes have been delivered in the west midlands since 2010. There are 88 projects in the north-west in the infrastructure pipeline, with a total value of £34.5 billion. More than 240 infrastructure schemes have been delivered in the north-west since 2010.
Infrastructure Development — House of Commons, 2016-07-19
Topic: Macroeconomics
Andrew George Stephenson (Conservative, Centre-right): May I too congratulate my right hon. Friend on his promotion? The recently announced infrastructure bonds will help to improve productivity and promote economic growth across the north-west. Will he outline the projects that could be eligible for this funding?
Infrastructure Development — House of Commons, 2016-07-19
Topic: Transportation
David Michael Gauke (Conservative, Centre-right): It was not just the money—I also rattled off the numbers. I would be delighted to provide the hon. Lady with details of the projects that have been delivered, with, as I say, 300 infrastructure schemes delivered in the west midlands and 240 infrastructure schemes delivered in the north-west. Accountability depends on the specific nature of the schemes. Clearly, over the past six years we have delivered on infrastructure, but there is more to do and we are determined to do it.
Infrastructure Development — House of Commons, 2016-07-19
Topic: Macroeconomics
David Michael Gauke (Conservative, Centre-right): As my right hon. Friend the Chancellor has made clear, and as, indeed, the previous Chancellor made clear, in circumstances where there is a projection of growth less than 1% over a 12-month period, that fiscal rule does not apply. The fact is that we inherited a very high deficit, and we have shown very strong determination over the past six years to bring that deficit down. As we face the challenges that we now face in terms of Brexit, had we not taken the tough decisions on public spending over the past six years, we would be in a much more vulnerable position than we are now.
Infrastructure Development — House of Commons, 2016-07-19
Topic: Transportation
Michael Jon Wood (Conservative, Centre-right): The previous Chancellor announced a new light rail link between the midland metro and the new enterprise zone in Brierley Hill in my constituency. Will my right hon. Friend meet me to discuss how we can extend that to the main line rail link at Stourbridge so that we can support businesses, communities and jobs in my constituency?
Infrastructure Development — House of Commons, 2016-07-19
Topic: Macroeconomics
David Michael Gauke (Conservative, Centre-right): First, I thank the shadow Chancellor for his kind words. Yes, his description of me as Chief Secretary last month proved to be ahead of its time. That is not a phrase I often use about the shadow Chancellor, but he was right on this occasion On the structural funds, of course we need to make an assessment of value for money and so on. We will make announcements in due course. I recognise the case for wanting to address uncertainty, but it is right that we follow due process before we make any announcements.
Infrastructure Development — House of Commons, 2016-07-19
Topic: Foreign Trade
David Michael Gauke (Conservative, Centre-right): First, on the general point, I recognise what the hon. Gentleman is driving at in terms of uncertainty and the desirability to resolve the issue sooner rather than later It is the case that the UK did very well from the European Investment Bank in recent months in terms of attracting investment. There is no evidence as yet that the UK will be discriminated against during the period that we remain members of the EU, but the hon. Gentleman is right to raise the issue. We will continue to monitor the situation and we want to ensure that we continue to do well from the EIB.
Support for Businesses — House of Commons, 2016-07-19
Topic: Macroeconomics
Philip Hammond (Conservative, Centre-right): The Government are committed to ensuring that Britain has a competitive corporate tax system that encourages innovation and business investment. We have already announced a reduction in corporation tax to 17%—the lowest rate in the G20—and we are reducing the business rates burden by £6.7 billion. The Government have also increased the rate of research and development tax credits and set the annual investment allowance at its highest ever permanent level.
Support for Businesses — House of Commons, 2016-07-19
Topic: Macroeconomics
Questions: May I congratulate the Chancellor and his team on their appointment? On supporting businesses, PricewaterhouseCoopers yesterday said that growth in Northern Ireland is likely to remain at zero, the worst in the United Kingdom. Will the Chancellor put in place some mechanisms—he has already discussed enterprise zones such as Belfast international airport—to help us?
Philip Hammond (Conservative, Centre-right): One of our priorities, in the interests both of social fairness and of improving the productivity of the economy, will be to address the huge—one might say almost grotesque—disparities between economic performance in the different regions and nations of the UK. That will be a central part of our productivity agenda, which will be a key cornerstone of our long-term economic plan.
Support for Businesses — House of Commons, 2016-07-19
Topic: Macroeconomics
Questions: May I congratulate the Chancellor and his team on their appointment? On supporting businesses, PricewaterhouseCoopers yesterday said that growth in Northern Ireland is likely to remain at zero, the worst in the United Kingdom. Will the Chancellor put in place some mechanisms—he has already discussed enterprise zones such as Belfast international airport—to help us?
Helen Olivia Bicknell Whately (Conservative, Centre-right): Since the referendum, some businesses in my constituency have put investment and recruitment on hold due to uncertainty. They welcome the policies that my right hon. Friend has mentioned. I also welcome the indication that he will look at further fiscal stimulus in the autumn statement, but that is some time off. May I press him to reveal a bit more about the options that he might consider to support the economy and businesses?
Support for Businesses — House of Commons, 2016-07-19
Topic: Macroeconomics
Questions: May I congratulate the Chancellor and his team on their appointment? On supporting businesses, PricewaterhouseCoopers yesterday said that growth in Northern Ireland is likely to remain at zero, the worst in the United Kingdom. Will the Chancellor put in place some mechanisms—he has already discussed enterprise zones such as Belfast international airport—to help us?
Philip Hammond (Conservative, Centre-right): I am afraid that I shall not be tempted by my hon. Friend to speculate on the content, or even the date, of the autumn statement. What I can say is that the Bank of England is well equipped with the tools necessary to deal with the short-term needs of the economy following the shock of the referendum, and the autumn statement is well placed, after the batch of economic data that will be published this autumn, to provide a longer-term response.
Support for Businesses — House of Commons, 2016-07-19
Topic: Labor
Questions: May I congratulate the Chancellor and his team on their appointment? On supporting businesses, PricewaterhouseCoopers yesterday said that growth in Northern Ireland is likely to remain at zero, the worst in the United Kingdom. Will the Chancellor put in place some mechanisms—he has already discussed enterprise zones such as Belfast international airport—to help us?
Philip Hammond (Conservative, Centre-right): Very clearly, the intention of the introduction of the living wage was not to make people worse off; it was precisely to support the living standards of those on the lowest wages. I will look carefully at the case that the hon. Lady has drawn to my attention.
Support for Businesses — House of Commons, 2016-07-19
Topic: Macroeconomics
Questions: May I congratulate the Chancellor and his team on their appointment? On supporting businesses, PricewaterhouseCoopers yesterday said that growth in Northern Ireland is likely to remain at zero, the worst in the United Kingdom. Will the Chancellor put in place some mechanisms—he has already discussed enterprise zones such as Belfast international airport—to help us?
Philip Hammond (Conservative, Centre-right): I assure the hon. Gentleman that I will be looking comprehensively at all areas of the portfolio as I prepare for the autumn statement, in the context of the economic situation that we face post this shock.
Support for Businesses — House of Commons, 2016-07-19
Topic: Macroeconomics
Questions: May I congratulate the Chancellor and his team on their appointment? On supporting businesses, PricewaterhouseCoopers yesterday said that growth in Northern Ireland is likely to remain at zero, the worst in the United Kingdom. Will the Chancellor put in place some mechanisms—he has already discussed enterprise zones such as Belfast international airport—to help us?
Philip Hammond (Conservative, Centre-right): I assure the hon. Gentleman that when we look at the corporate tax environment, we will not just be looking at headline rates. We will be looking at the marginal effective rates of corporate tax for investors in the UK, because that is what we want to target—more investment, more jobs and the creation of more wealth in the UK.
Business Rates — House of Commons, 2016-07-19
Topic: Macroeconomics
Jane Ellison (Conservative, Centre-right): As my hon. Friend knows, in Budget 2016 we announced the biggest ever cut in business rates in England, worth £6.7 billion over the next five years. The package cuts business rates for all ratepayers, and 600,000 of the smallest businesses will not have to pay business rates again. The Government are also looking to modernise the administration of the tax to make sure that it is fit for the 21st century.
Business Rates — House of Commons, 2016-07-19
Topic: Transportation
Michelle Emma May Elizabeth Donelan (Conservative, Centre-right): I congratulate my hon. Friend on her new role. Have the Government decided whether car park business rates will be devolved to local authorities? That would offer a significant reduction in council overheads, which could enable Wiltshire Council in my constituency to reduce parking fees and improve the economies of our local market towns.
Business Rates — House of Commons, 2016-07-19
Topic: Macroeconomics
Jane Ellison (Conservative, Centre-right): I congratulate my hon. Friend on taking such a close interest in what will boost her local economy. The Government have announced that they will devolve 100% of business rate revenues to local government. The details are subject to consultation, and the consultation document was published by the Department for Communities and Local Government earlier this month. She and her local council may well want to contribute to that consultation, and she may want to make the point that she made so well just now.
Northern Powerhouse — House of Commons, 2016-07-19
Topic: Transportation
Julian Charles Sturdy (Conservative, Centre-right): May I add my congratulations to the new Front-Bench team? In medieval times, the north was ruled from the great city of York. Even in Yorkshire, things do move on, but the need for well-connected transport links is still fundamental for every thriving city. Will my right hon. Friend ensure that sufficient funding is in place to deliver the key infrastructure needs, such as the upgrading of the York northern ring road, which will allow the city to fulfil its true potential in the new enterprise zone?
Northern Powerhouse — House of Commons, 2016-07-19
Topic: Transportation
David Michael Gauke (Conservative, Centre-right): This Government are determined to ensure that we have strong transport infrastructure in the north of England, but I very much hear the points my hon. Friend has made. We have committed to investing an extra £161 million to accelerate the transformation of the M62, and £75 million to improve other road links, including the A66 and the A69. We very much recognise the case he is making and, as I say, as a Government we are determined to ensure that the north of England can fulfil its potential.
Northern Powerhouse — House of Commons, 2016-07-19
Topic: Transportation
David Michael Gauke (Conservative, Centre-right): As I said earlier, we recognise the need to bring any uncertainty to an end as soon as we possibly can. In the circumstances, it is right that we take a moment before making any guarantees, but let me be absolutely clear that as a Government we remain committed to doing everything we can to strengthen the northern powerhouse and to ensure that the north of England fulfils its full potential, which includes transport infrastructure. On the specific point, we will make an announcement in the not-too-distant future.
Northern Powerhouse — House of Commons, 2016-07-19
Topic: Macroeconomics
Questions: Since 2010, my city of Leeds has seen hundreds of millions of pounds invested in its transport infrastructure. I wonder whether my right hon. Friend can confirm that the billions of pounds that were to be put into the northern powerhouse to invest in transport infrastructure across the whole of Yorkshire and the Humber will still be delivered.
David Michael Gauke (Conservative, Centre-right): The right hon. Gentleman will understand, as a former Treasury Minister, that there is a need for consistency. My answer remains that we will make an announcement soon. We recognise the point that he is making and the desire to remove uncertainty, but I am not in a position to make an announcement this morning.