argyrotsipi/train-dataset huggingface dataset:
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Christopher Laurie Malthouse (Conservative, Centre-right): It is often forgotten that companies do not actually pay tax. All they do is collect their tax on behalf of the Government from their customers and pass it on. If we go into the Tea Room and buy a Mars bar or whatever, we pay the cost not only of the ingredients, the machines and the capital deployed by the company, but of the corporation tax, the duty, the VAT and indeed national insurance as part of the price. Over the last 30 years that I have been in business, it has certainly been the case that the moving parts in running a business have become ever more complex, and tax in the general sense has occupied ever more time of the business person, particularly those who run small businesses. Anything that injects an element of certainty into the tax horizon for business is therefore extremely welcome, particularly at a time when lots of other things are changing for small businesses. The introduction of reforms in pensions, particularly auto-enrolment, changes to the living wage and other employment regulations create an atmosphere in which running a business feels very much like a game of 3-D chess. We can look around the world at tax regimes for business where stability and lack of change have been a constant for some time and see success, irrespective of the rates. If we look at the United States, corporation taxes are actually quite high in comparison with this country—pleasingly—but also with the rest of the world. The US economy does extremely well, largely because tax rates have not changed for decades. The US has elected for stability and a lack of change to the relative level of the rate because it knows that one of the things most valued by businesses is certainty. Whenever people are starting or running a business, they spend their entire lives forecasting what the world is going to look like over the next two or three years. When people do that, they know that the day after the forecast, it will be wrong because of the many different moving parts, as I said. One area that business should be able to rely on for some certainty and stability is government. So the introduction of the Bill, which provides a four-and-a-half or five-year time horizon on national insurance, is extremely welcome There are people who might say that this is a gimmick, but much of what we do in the House is about signals. Economics is all about psychology and the individual choices that people make.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Christopher Laurie Malthouse (Conservative, Centre-right): The hon. Gentleman will have to ask my right hon. Friend the Chancellor of the Exchequer that question next time he appears. I hope that the hon. Gentleman would support me in urging those on the Treasury Bench generally to provide a level of certainty and in many ways to be slower about their decisions.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: International Affairs
Christopher John Pincher (Conservative, Centre-right): My hon. Friend is generous in giving way. The question of certainty has been raised and eloquently explained by him. Does he agree that, when Members question certainty, they should ask themselves why they ask for referendums on whether they should be part of the United Kingdom, which surely breeds uncertainty?
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: International Affairs
Christopher Laurie Malthouse (Conservative, Centre-right): My hon. Friend has made a strong point. During the debate on the referendum concerning our possible divorce as nations, businesses piped up very loudly about what was likely to be a very uncertain horizon for them on the far side of the debate. The majority opted for the status quo, because a bird in the hand was worth God knows what in the bush.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Christopher Laurie Malthouse (Conservative, Centre-right): These things always involve a balance. A point that I have often made in another elected chamber—this is one of the things that dismays me a little—is that under the last Government we became used to having, effectively, two Budgets a year. There were two points during the year at which businesses, and indeed everyone else, had to hold their breath because there might be some change in the fiscal environment. Pleasingly, however, over the last four or five years, that change has been generally beneficial. The direction of travel of the United Kingdom has been towards a lower-tax environment for business, and we have seen the benefit of that in the jobs market and the growth of the economy over the last few years.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Labor
Mark Steven Spencer (Conservative, Centre-right): Does my hon. Friend agree that taking on staff constitutes a large responsibility for employers? They know that they are responsible not only for their employees’ health and safety, but for their future financial security, because the employees’ mortgages depend on their careers in the business. Anything that the Government can do to remove a barrier from the ability to employ someone has to be welcomed.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Christopher Laurie Malthouse (Conservative, Centre-right): That is exactly the point that I am making. Businesses are much more likely to employ people if they have some certainty about the overall cost of employment—not just wages, but on-costs such as expenses. Within that, national insurance is a very significant cost, and providing an element of certainty over the next four or five years is therefore extremely important Let me now return to a point that I was making earlier about signals. When I was Deputy Mayor for business and enterprise at City Hall, a position that I occupied for three and a half years, I was in charge of foreign direct investment. My job was to go around the world encouraging people to come and invest in London and the south-east. One of the things I learnt from that experience was that signals from City Hall about what we were willing to do, and how welcoming we were likely to be to particular companies, individuals or investors, was critical to whether they wanted to come here. In that context, an element of certainty and predictability, not just political and legal—we are seen to have that around the world—but fiscal, was absolutely vital
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Government Operations
Atta-Ur-Rehman Chishti (Conservative, Centre-right): Of course I agree with what my hon. Friend says about certainty and clarity. Does he not think that the shadow Minister’s argument—that when a promise has been made, there is no need to legislate for it—is quite contradictory? The Blair Government passed more legislation than any other Government: they passed 26,849 pieces of legislation. Labour cannot have one rule in government and another in opposition. Clarity is the way forward.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Foreign Trade
Andrew George Stephenson (Conservative, Centre-right): I applaud what my hon. Friend has said about stability and certainty in the business community, especially in relation to foreign direct investment. During Business questions this morning, I mentioned the aerospace growth partnership. The aerospace sector has longer product cycles than other sectors. It is important for us to support such sectors, and for firms investing in aerospace to have a long period of certainty. The UK’s aerospace sector is the second largest sector in the world, and we are keen to support it.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Christopher Laurie Malthouse (Conservative, Centre-right): My hon. Friend has made a powerful point. Some of the sectors that are the most critical to the UK’s future success—aerospace, technology and life science, in which I have a particular interest—are international businesses that make huge bets on countries on a regular but long-term basis. Some predictability is therefore absolutely key My final point is about inflation. We are living in a financial atmosphere in which inflation will be of concern over the next five to 10 years, and we need to be careful to ensure that it does not get out of hand. We have been extremely successful in doing that so far. As I have said, national insurance forms a large part of prices. The Government—any Government—must bear in mind that if taxes rise, so do prices, over time. By injecting an element of freeze into the national insurance bill, we are also doing our bit to relieve whatever inflationary pressures may be generated in the economy.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Christopher Laurie Malthouse (Conservative, Centre-right): The hon. Gentleman may have a point at the current time, but some of us are of an age to remember the destruction that was wreaked on the last generation by inflation. My grandparents’ pensions were destroyed by it. I hope he will forgive me for having an atavistic fear of it, a fear that it may, at any point, appear over the horizon. Anything that we can do to defray that fear, either now or in the future, will be welcome. I support the Bill. I think that it is a good idea. I will vote for it first because of the certainty that it will bring for business, secondly because of the international signal that it will send, and thirdly because I think that anything we can do to bear down on any inflation, either now or in the future, will be extremely welcome.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Energy
Stewart Jackson (Conservative, Centre-right): The hon. Gentleman must be vying for the 2015 Caledonian brass neck award. On the arc of prosperity of Iceland, Ireland and Scotland, if we are talking about black holes, would he care to enlighten the House about the £8 billion black hole predicated on the dwindling price of oil, which means that if the Scottish people had made a different decision the country and the constituency he represents would be bankrupt?
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Lucy Claire Leigh (Frazer) (Conservative, Centre-right): The Bill is about low taxation. Low taxation is critical to encouraging our businesses and our economy to grow. Low taxation encourages entrepreneurship, and it means that work pays. The commitment not to increase national insurance contributions is a key part of the Government’s triple lock to ensure that we have low taxation for our working nation. As it is paid by both employer and employee on wages, it is an important part of our jobs tax Many sectors rely on their people knowledge. I have many such sectors in my constituency. Only a few weeks ago, I visited Cambridge Online, which deals in computer software. Its chief executive officer said to me, "We are nothing, Lucy, other than our people." Last week, I was at Marshall, which employs 3,000 people and is one of the biggest employers in my constituency. It spends a huge amount investing in apprenticeships and in training up the next generation who will be its workforce. Also in my constituency is the science park, which is a key place for biotech industries. Innovation and enterprise are fundamental, and individual experience and individual knowledge of people are key. Cambridge University is on our border, and the academics and their great research are fundamental to our economy. At the source of all that is people. Keeping national insurance contributions at the same level is critical to encourage employers to employ, to encourage the growth of businesses and productivity, and to ensure that businesses can recruit and expand. However, this Bill is about not just low tax, but certainty. As businesses expand, it is good for them to have foresight in respect of their expenditure, and that is what we are providing. We are providing them with certainty. As has been mentioned, that is particularly important for foreign investment. My constituency has biotech industries. We are competing not with Birmingham or Leeds, but with silicon valley. What we need is certainty that foreign investors will invest in our community and our businesses It has been said that this measure is a gimmick. It is not. It may be that the Bill is not required, but that does not mean that it is not welcome. It provides the certainty that we need. This Bill is about low taxation, certainty and transparency, as it tells people what this Government are doing, and it will help with jobs, and therefore our economy, in the future.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Government Operations
James Roger Cartlidge (Conservative, Centre-right): If we reach that point and the provisions have to be repealed, that will be a public act. This is an open and transparent Government. If we make this promise and then legislate, it is extremely difficult to repeal it on the sly. The Labour Government broke promises on the sly, hoping that we would not notice. It is impossible to do that with this type of approach.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
David Michael Gauke (Conservative, Centre-right): May I seek some clarity? The hon. Lady said that she would not make a commitment on the upper earnings limit. Is she therefore suggesting that the 12% rate of national insurance contributions should also apply to higher rate income tax payers?
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Christopher Laurie Malthouse (Conservative, Centre-right): I think I am grateful to the hon. Lady for her support earlier. That was kind of her. Would she accept that one of the strengths of having these measures embedded in legislation is that if a future Chancellor were to decide that he or she wanted to raise national insurance rates, an element of delay would be injected into the proceedings by dint of the repeal process? That would give businesses some months—and possibly a year or even longer, if the House were so to decide—in which to adjust to what would otherwise have been a sudden decision.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Government Operations
Christopher John Pincher (Conservative, Centre-right): The hon. Lady is a doughty individualist. I recall her calling me up a few months ago, when she was seeking the chairmanship of the Public Accounts Committee—regrettably, she was unsuccessful in that enterprise—and asking me what the PAC Chair should do. One thing she said was, "We must make Parliament more accountable." Surely by passing this legislation, which would have to be repealed if the Chancellor wanted to make changes, we are making this House and the Chancellor more accountable.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Labor
Huw William Merriman (Conservative, Centre-right): I warmly support the provisions in the Bill to enshrine the level of contributions for national insurance. This measure, together with the commitment made earlier this year not to raise income tax, was an essential part of my party’s general election manifesto, and I am pleased to see the legislative effect being enacted I am passionate about my Government’s pledge to give people the opportunity of work. In the last term, the Government put business at the heart of their programme, creating more than 700,000 new businesses. That climate has helped to allow 2 million new jobs to be created in this country. In the term to come, the desire is to create a further 2 million jobs, to increase that success. In order for private enterprise to deliver these new jobs, it is essential to give business an environment of certainty, to allow it to plan over the next five years. That is what creates jobs.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Huw William Merriman (Conservative, Centre-right): Not at all. Perhaps I can come on to deal with that by considering the macro levers the Government will have over this term, which will give a real boost to the economy, and other matters where it might be right to leave things open. I was talking about the need to create jobs, which is what is essential here. Jobs change lives, creating hope, aspiration and well-being for all of our constituents. Any move to create more jobs should be welcomed by all parties, not just the Conservative party, and should not be branded as a "stunt" or a "gimmick".
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Labor
Kwasi Alfred Addo Kwarteng (Conservative, Centre-right): Does my hon. Friend feel that this Bill chimes in well with what we saw from the last Government, who created about 1 million new jobs in the private sector? Does he agree that this is exactly the kind of direction the country needs to pursue?
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Huw William Merriman (Conservative, Centre-right): I absolutely agree with that. I recall that five years ago there were howls of derision when the Government announced that they would seek to create one new job in the private sector for every one public sector job lost. At the end of the five-year period I believe that the actual figure was five for every one. We had great success, and it shows that we are the Government who can manage the economy and turn it around, despite what we were faced with in 2010 The content of this Bill was at the heart of this Government’s manifesto commitment. Today is all about honouring promises—it is not about gimmicks or stunts. What has this House become if, when we stand proudly and enact our manifesto in legislation, it is branded as a gimmick? What does that say about the manifestos of other parties, given that it is only four months since the previous election? I was reassured to hear from the Cabinet Office that a unit is in place to ensure that every Department is making good on this Government’s manifesto pledges, as opposed to the Labour party which, as mentioned, is tearing up its pledges after only four months and a leadership change With the commitment not to increase national insurance, which is, after all, a tax on job creation, Conservative Members are making good on our commitment to support business and create a platform for jobs.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Atta-Ur-Rehman Chishti (Conservative, Centre-right): Our commitment to creating more jobs and bringing more jobs to our country goes hand in hand with what we are doing on corporation tax, where we have one of the lowest rates in the western world. As a result, Deloitte is saying, "These measures will bring more businesses into this country." This lower taxation measure is therefore in line with the other measures put forward by the Chancellor to create more jobs and opportunity by having one of the lowest levels of corporation tax in the developed world.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Atta-Ur-Rehman Chishti (Conservative, Centre-right): My hon. Friend talks about taxes rising. The Bill provides certainty, whereas rising taxes cause uncertainty. In his manifesto, the Leader of the Opposition said that he wanted to increase corporation tax from 20% to 20.5%. That would create uncertainty and hinder jobs and investment coming into this country.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Huw William Merriman (Conservative, Centre-right): I agree completely. The cut in corporation tax allowed this Government to justify the increase in the living wage, as it offsets that. Such a change would put all that at risk, although I very much hope that we will never see that day.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Huw William Merriman (Conservative, Centre-right): Perhaps I can make a little progress, but then I will of course give way The Government continue to reduce levels of taxation and I welcome that move. In a recent report, Bexhill and Battle constituency, which I represent, was in the top 10 constituencies for the fastest rise in wages for the past 10 years. As I am from a constituency that has lagged behind the national average for far too long, I am incredibly excited about this change in fortune I fully support the commitment in the Bill and hope that the benefits will be felt across the country as well as in my constituency.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Kwasi Alfred Addo Kwarteng (Conservative, Centre-right): We are wandering rather further from the topic of the debate than I would like, but how would the hon. Gentleman explain the consistent deficits we ran from 2001, as the hon. Member for Na h-Eileanan an Iar (Mr MacNeil) suggested? We were in deficit every single year for the last nine years of the Labour Government.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Macroeconomics
Graham Charles Stuart (Conservative, Centre-right): The hon. Gentleman must have seen the figures. Every time the higher rate of tax was cut, the amount paid by the richest, in both absolute and relative terms, went up. The truth is that Governments receive more money when they impose fair taxation and less when they follow the policy that he is advocating.
National Insurance Contributions (Rate Ceilings) Bill — House of Commons, 2015-09-15
Topic: Government Operations
Simon James Hoare (Conservative, Centre-right): The hon. Gentleman obviously has the inside track on the voice of the City—he has referenced lunches he has had in the square mile—so could he illume the House on what the City’s view is on the new policies of his right hon. Friends who now occupy the Opposition Front Bench?