Topical Questions — House of Commons, 2017-07-18
Topic: Macroeconomics
Questions: My right hon. Friend the Chancellor will know from his time in the Foreign Office that one of the great strengths of our great kingdom is the perception of fairness we enjoy around the world. Will he talk a little about fairness in financial transactions, as the hidden taxes imposed by many companies on investment are grossly unfair on those who are saving in pensions for the future?; As chair of the all-party group on refugees, I am told by refugees that they are desperate to work once they have achieved such status, but are hindered by various fixable problems in the system. Will the Minister tell us what the Government are doing to make it easier for refugees to have bank accounts?; To promote the drive towards world free trade, will the Chancellor of the Exchequer assure the House that he is absolutely, personally and enthusiastically committed to following our manifesto commitment to leave not just the EU at the end of 2019, but the single market and the customs union?; The UK Government have a strong record of supporting Scottish businesses, and the British Business Bank has provided nearly £1.5 million of support to small businesses in East Renfrewshire. However, many businesses in my constituency are disadvantaged compared with competitors and counterparts in England due to the Scottish Government’s approach to business rates. Will my right hon. Friend join me in calling for the Scottish Government to reverse their decision to double the large business supplement, restore rates parity on both sides of the border and allow Scottish businesses to compete on a level playing field?; Will my right hon. Friend, for the benefit of the House, confirm the cost to the economy of cancelling student debt, say whether that is affordable and explain what effect it would have on the work we have done to reduce the deficit?; The new Conservative Mayor of the Tees Valley, Ben Houchen, is setting up the first mayoral development corporation outside London on the former SSI site in Redcar. The regeneration of the site and the attraction of inward investment are obviously vital. Will my hon. Friend work with me and the Mayor to deliver the best outcome for the site and the local economy?; Noting that the unemployment rate is at a 42-year low, may I inquire of my right hon. Friend what the effect has been on average personal incomes for workers in Ayr, Carrick and Cumnock—and, indeed, the rest of the UK—of increases in the minimum wage and the national living wage?
Melvyn John Stride (Conservative, Centre-right): My hon. Friend is right, and he is rightly a champion of business in his constituency. There is no doubt that lower taxes create wealth and in turn pay for the public services that we all desire—contrary to the party opposite. I share one exchange with the House—when my hon. Friend the Member for North East Somerset (Mr Rees-Mogg) asked the shadow Chief Secretary if he was "aware that tax as a percentage of GDP is going to be at its highest level since Harold Wilson was Prime Minister?", his response was: "Let me put it like this: if we had a Labour Government, the percentage would be even higher."—[Official Report, 18 April 2017; Vol. 624, c. 579.]