argyrotsipi/train-dataset huggingface dataset:
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): I thank the hon. Gentleman for being generous with his time. He is trying to suggest that the Government have a bad track record on clamping down on avoidance and evasion. The key measure of that is the tax gap, which was 8% under the last Labour Government and has now fallen to 6%—that is the lowest in the world. Will he congratulate the Financial Secretary to the Treasury on that achievement and acknowledge that this Government are doing a better job in this area than the last Labour Government?
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): I thank the hon. Gentleman for his intervention but, as I say, the central, key, cold, hard fact, which will not go away, is that financial services are paying £8 billion or £9 billion more in tax now than they were before. That is money that can be spent on children’s services in his constituency or in mine, on the NHS or on schools. We should welcome the fact that the sector is producing this extra taxation, partly because it has become more successful and partly because the rate of tax has progressively been increased over the past seven or eight years The hon. Gentleman made a point about choices and his intervention was unpinned by an assumption: that if we increase the rate of taxation, we invariably raise more revenue. I challenge that assertion, as the famous Laffer curve clearly does. It is clear to me that it is possible to reduce the rate of taxation and at the same time collect more tax, because we, thus, incentivise investment and growth. There is no better illustration of that than the trajectory of corporation tax, taken as a whole, over the past seven years: the rate of corporation tax has come down from 28% to 19%—it is heading down to 17% in a couple of years—yet the cash take from corporation tax over that same period has gone from about £35 billion to about £53 billion or £55 billion. That goes to show that we can cut the rate of tax and, by stimulating the economy and investment, actually collect more money. Similarly, it does not follow that putting up the rate of tax necessarily means that more money is collected, because that might disincentivise investment and job creation.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): Let me take each of those points in turn. The hon. Gentleman asserts that, had the corporation tax rate remained at 28%, we would now be collecting more than £53 billion. That is an assertion, and not one with which one can agree without contention. For example, because of the lower corporation tax rate, plenty of businesses have made investments that they would not have made otherwise. Several companies had located their corporate headquarters outside the UK—
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): Just a moment; let me respond to these two points Those companies had located their corporate headquarters outside the UK and so paid corporation tax outside the UK, but in response to the Government’s cutting the rate of tax, they came back onshore and now pay corporation tax here. It does not follow at all that a higher corporation tax rate—28% in the case mentioned by the hon. Member for Stalybridge and Hyde (Jonathan Reynolds)—would lead to a higher tax yield. The direction of travel shows that, as the rate has come down, the amount collected has gone up. I just do not agree with the suggestion that, if the corporation tax rate were 28%, we would be collecting £60 billion or £70 billion.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): A number of points have been raised there. On the point about correlation and causation, of course I understand that they are not the same thing. However, in my remarks about corporation tax reductions, I did point to some of the causal links. The two causal links that I cited were, first, encouraging investment and, secondly, companies choosing to move their domicile—for example, from Switzerland back to the UK. Therefore, there are two causal explanations as to why a reduction in the rate of tax might lead to an increase in the tax yield.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): The Government conduct analyses and reviews the whole time. I am not sure whether we need to put the review into primary legislation. As the hon. Gentleman refers to new clauses 3 and 4, which stand in his name, I will turn to them now The new clauses call for various reviews and registers. Of course, analysis is important. That analysis, I believe, takes place in the Treasury already—I am sure that the Financial Secretary will comment on that in due course. What is interesting about the new clauses tabled by the Opposition is not so much what is in them, as what is not in them—it is the dog that did not bark, if I can borrow from Sir Arthur Conan Doyle I mentioned in an intervention that the Labour party appears to have taken a number of different positions on the bank levy: it voted against it in 2011; it voted against the surplus tax in 2015; and then it stated in public that it wished to leave the bank levy in place, despite having voted against its introduction, which strikes me as rather confused. I was rather hoping that its new clauses and amendments might enlighten us on what its position actually is on the bank levy. This is primary legislation. This is a finance Bill soon to become, I hope, a finance Act. The Opposition had a chance here in this Chamber today to explain to the House and to the country how they think our tax system should work in relation to the bank levy. They could have tabled an amendment, had they chosen to, saying that they wanted to leave the bank levy in place as it was, or they could have tabled an amendment abolishing it altogether, yet they have done neither of those things; they have simply called for analysis. I am disappointed that their plans have not been elucidated.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): I am not sure. This is a moment when my hon. Friend the Member for North East Somerset (Mr Rees-Mogg) is required to advise on such matters. I do not share his expertise in parliamentary procedure. However, the shadow Chief Secretary did not specify in his quite extensive—and, at times, amusing—remarks the official Opposition’s position on the bank levy. There is certainly no parliamentary procedure that prohibited him from doing so, so he could quite easily have chosen to specify his exact view—whether the bank levy should continue as it is, go or do something else—yet he did not do so. I am rather disappointed by the lack of clarity on that point The hon. Member for Stalybridge and Hyde said a few moments ago in one of his many interventions that HSBC might contemplate its jurisdiction in the light of Brexit. In fact, HSBC was debating where to domicile itself well before the referendum. If anyone or anything threatens the City of London’s status as a global financial centre, it is not the matters being debated today and it is not Brexit. In fact, it is the right hon. Member for Islington North (Jeremy Corbyn) and the comments he made a day or two ago, which, in the words of one commentator, threatened to turn London into a new version of Pyongyang. That is what he said. It was in the Evening Standard—a newspaper edited by a highly reputable journalist PwC has done some analysis of the tax contribution made by the financial services sector, finding that it paid £72.1 billion in taxes last year. That is about 9% of the UK’s total tax take. It is no laughing matter when misguided and populist politicians take a cheap shot at the City to get some headlines. If business is driven away, the implications will be very severe for our tax take and for employment. If we lose the tax revenue generated by the City, the people affected will of course be children and the NHS I ask the shadow Chief Secretary to convey gently to his dear leader that comments such as those made a day or two ago are very unhelpful to the City. They endanger jobs and jeopardise the £72 billion of tax that the City pays. Whether it is through fiscal measures or through words, it is a very serious matter when we endanger jobs and the tax revenue from the City that funds about two thirds of the NHS’s budget. In this Bill and in our words, we should protect that tax revenue and those jobs.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: International Affairs
Chris Ian Brian Mynott Philp (Conservative, Centre-right): There is no allegation; they were said publicly. I will of course convey the hon. Gentleman’s comments in a spirit of reciprocation, but I dispute the remarks about Brexit. We saw fantastic progress before Christmas and are moving on to the next stage. I look forward to the series of speeches by my Cabinet colleagues in the coming days and weeks that I appreciate are on a different topic to the one at hand.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): Well, I am not sure whether I can respond to the hon. Gentleman’s comments while adhering to Madam Deputy Speaker’s gentle guidance, other than to say that I think that the Leader of the Opposition’s remarks went rather further than the hon. Gentleman just suggested Perhaps it is time to move on to the measures relating to tax avoidance and evasion, particularly new clause 6. The shadow Chief Secretary made a series of quite serious allegations about the Government’s effectiveness over the past seven years in combating tax avoidance and evasion. I disagree quite strongly with the premise of his points. He suggested that the current Government had been slow to act—indeed, had not acted—in these areas. I gently draw his attention to the fact that in the past eight years since 2010 the Government have taken 75 different measures designed to combat tax evasion and tax avoidance that have raised, cumulatively, £160 billion.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): The hon. Gentleman is asking me to comment on the actions of the Government of over 20 years ago. I am commenting on the actions of the Government who have been in office for the past eight years, whose record is one that I am proud of and stand behind Because of these measures, our tax gap has reduced, as I said in an intervention, from 8% to 6%—the lowest in the world, and better than under the last Labour Government. When I made that intervention, I heard the shadow Chief Secretary make reference to profit shifting. Profit shifting is a serious matter. That is why I am pleased that the UK Government were at the forefront of the OECD’s BEPS—base erosion and profit shifting—initiative. Action 5 of that is specifically designed to clamp down on so-called profit shifting. I accept that this is an issue, and I am pleased that the UK Government have been taking action in that area.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Rachel Helen Maclean (Conservative, Centre-right): I am delighted that my hon. Friend, from his position of expertise, is reminding us of what a great record we have of collecting tax, rightly—tax that pays for schools, hospitals and police services up and down the country, as well as in Redditch, of course, which I care about the most. Does he agree that we have collected £12.5 billion more than if we had left the tax gap in the same state that Labour left us with? That is £12.5 billion to be spent in everyone’s constituency.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Nigel Paul Huddleston (Conservative, Centre-right): My hon. Friend is making an important point. Conservative Members do not just obsess about some punitive rate for party-political purposes. The key is to grow the economy and maximise the tax take, so that we can then spend our money on public services. It is important to recognise the increased revenues from tax overall, rather than being obsessed with a particular rate.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Rachel Helen Maclean (Conservative, Centre-right): My hon. Friend is right. The spectre of the Laffer curve raises its head yet again, but it is a fact that lowering the tax rate increases the tax take. That is a fact that we have observed time and time again, and it has benefited our economy.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Rachel Helen Maclean (Conservative, Centre-right): I am sorry, but I cannot take any more interventions, because time is short I hope that, when he winds up the debate, the Minister will touch on the important issues of cryptocurrencies and bitcoin which, I believe, are not currently covered by regulation. I think we would all like to be assured that the Treasury is ensuring that no loopholes can develop that might allow tax evasion and avoidance. There are some alarming reports of people being arrested for money-laundering billions of pounds by that means The hon. Member for Walthamstow (Stella Creasy) is very well informed. I recognise the hard work that she has done, and I share a number of her concerns about the private finance initiative. A hospital in Worcester serves my constituents in Redditch. It is in special measures, and it has a financial issue. All of us in Redditch are very worried about that. I do not think that the new clause is the right way of dealing with the situation, but I should like to know what action the Minister will take to reassure my constituents that no one is reaping profits that they should not be reaping May I ask the hon. Member for Walthamstow to clarify the position of Labour Front Benchers? Do they not intend to take all the PFI contracts back into public ownership? She said that it would cost £220 billion, but I believe that that is the official position of the Labour party. It is a little confusing. It is difficult to know what the Labour party supports—whether it is the proposals of the hon. Lady or those of the Leader of the Opposition—so some clarity would be welcome Coming to my final point, Brexit was mentioned earlier, and we heard remarks about Brexit and the Labour party’s position, with claims that somehow Brexit is damaging our economy. [Interruption.] Well, Brexit was mentioned in a sedentary intervention. In my experience, businesses fear the spectre of a Labour Government more than Brexit, as a Labour Government would damage jobs and business investment. That is what businesses are worried about.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Rachel Helen Maclean (Conservative, Centre-right): I can see that Madam Deputy Speaker is quite cross that we have moved off the point, so I return to the point that I do not support the new clause because I believe what the Government have put forward is already tackling the issues of tax avoidance and evasion, and those measures will ultimately benefit our economy and our constituents.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Melvyn John Stride (Conservative, Centre-right): I just do not accept that. This goes back to my point about the balance of measures that we are taking. The Opposition are understandably focusing on the bank levy, which is indeed declining over time, but I point to the additional 8% surcharge, which is 8% more on corporation tax than other non-banking businesses are expected to pay. As I have said, the banks are also not permitted to carry forward interest rate charges to the same degree as other businesses, and they are not allowed to offset against tax the compensation payments that they have been making. All those things add up to additional tax and by 2023 will have raised an extra £44 billion since 2010 compared with what would have been raised from non-banking businesses.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Macroeconomics
Colin James Clark (Conservative, Centre-right): The autumn Budget was a triumph for Scotland, and a vindication of the constructive approach of the Scottish Conservatives. I hope that members of the Scottish National party, and other Scottish MPs, will feel able to welcome and embrace it. Unfortunately, however, SNP Members appear to have learnt little. They created the mess over VAT for the police and fire services, and this Conservative Government have had to clear it up. New clause 10 seeks to point the finger, but the mess in the first place was of the SNP’s own creation. That is disappointing The SNP Scottish Government messed up. They knew that they were messing up even as they did so, not least because they had been warned. Indeed, when they were estimating the budgetary effects of these centralisation plans, they specifically factored in the great multi-million-pound VAT giveaway. They pressed on regardless. It is extraordinary that Labour Front Benchers are supporting new clause 10.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Law and Crime
Colin James Clark (Conservative, Centre-right): No. The hon. Gentleman has had his go The nationalists made a conscious decision. They were not short-changed, they were not unaware, and the money was not "stolen". They must accept that culpability for the lost millions lies squarely with them. If they want to raise the money, they should take the responsibility and raise it themselves. I only hope that they do not do so by inflicting further punishment on Scottish taxpayers The poorly judged centralisation of Police Scotland is never far from the headlines, but the resignation of the chief constable and the delay in the pointless merger with the British Transport Police have brought it under a fresh spotlight in recent weeks. Surely now is the time for SNP Members, both here and in Holyrood, to stop manufacturing grievances from their own mistakes and join us in working constructively to make Scotland a better place. And they should start that process with a review of the structure of Police Scotland.
Finance (No. 2) Bill — House of Commons, 2018-02-21
Topic: Transportation
Julia Louise Lopez (Conservative, Centre-right): I wonder whether I might make a suggestion on the amendments to which my right hon. Friend just referred. Cabbies in my constituency have raised legitimate concerns about vehicle excise duty. If I have read them correctly, it seems that the amendments that have been tabled to clause 44 would make all taxis exempt from certain vehicle excise duty rates this year, rather than just the new, electric-capable vehicles. As my right hon. Friend knows from our discussions about taxis, I and other London Conservative MPs have serious concerns about air quality in the capital, so I would appreciate his view on whether it would instead be better if we brought forward by a year—
Space Industry Bill [Lords] — House of Commons, 2018-02-21
Topic: Technology
Jo Johnson (Conservative, Centre-right): I beg to move, That (1) a Message be sent to the Lords requesting that they will be pleased to return the Space Industry Bill [Lords] because the privilege amendment made to the Bill in the Lords was not removed in this House; (2) when the Bill has been returned by the Lords, it shall be further amended, in Clause 72, by leaving out subsection (2); and (3) when the Bill has been so further amended, it shall be returned to the Lords, with the Amendments made in this House I will not detain the House too long. Owing to an administrative error, the privilege amendment in clause 72(2) was not removed during our deliberations on the Bill. The privilege amendment was inserted in the House of Lords to ensure the provisions contained in the Bill do not infringe the privileges of this House, which is standard procedure The motion before us asks the Lords to briefly return the Space Industry Bill to the Commons to allow us to remove the privilege amendment. The amended Bill will then be sent back to the House of Lords, which will consider all the amendments made by the Commons I apologise on behalf of the Government that this administrative error occurred, and I hope that hon. and right hon. Members will support the motion Question put and agreed to.
UK Research Centre for Ceramics — House of Commons, 2018-02-21
Topic: Foreign Trade
Jack Edgar Brereton (Conservative, Centre-right): I thank the hon. Gentleman for that point. I agree that there is a need to ensure that our industries are protected, and the Trade Bill and the customs Bill, which he cited, provide an opportunity to do that. I would like to see a continuation of measures that we have seen in the EU—a continuation of those trade remedies that would ensure that the ceramics industry continued to receive those protections I wish to set out two key arguments. The first is that a UK research centre for ceramics is a vital addition to global Britain. The second is that, obviously, such a research centre should reside in the global home of ceramics, Stoke-on-Trent. Why do we need a research centre? For thousands of years, ceramics have been valued for their unique properties of durability, strength and resistance to corrosion. Thanks to hundreds of years of technological advances in ceramics manufacture, we now, regrettably, take for granted the affordability and ubiquity of ceramic products.
Cross-border Economic Opportunities — House of Commons, 2018-01-31
Topic: Macroeconomics
Alun Hugh Cairns (Conservative, Centre-right): Last week, I hosted the first cross-border Severn growth summit in Newport. More than 350 people attended the event, all looking to strengthen the economic links between south Wales and the south-west. Through our industrial strategy, we want to build on this cross-border collaboration and help create prosperous communities throughout the whole of Wales.
Cross-border Economic Opportunities — House of Commons, 2018-01-31
Topic: Transportation
Daniel Robert Kawczynski (Conservative, Centre-right): Shrewsbury, the county town of Shropshire, relies very heavily on trade with our friends and neighbours across the border in Wales. What discussions has my right hon. Friend had with his counterparts in the Welsh Assembly about dualling the A5, which crosses the border between England and Wales? Will he join me in paying tribute to my neighbour, my right hon. Friend the Member for North Shropshire (Mr Paterson), who has campaigned assiduously, but who has been very badly injured in a riding accident and is recuperating at home?
Cross-border Economic Opportunities — House of Commons, 2018-01-31
Topic: Transportation
Alun Hugh Cairns (Conservative, Centre-right): Thank you, Mr Speaker. I pay tribute to my hon. Friend and to my right hon. Friend the Member for North Shropshire (Mr Paterson). Both are assiduous and relentless in their pursuit of the dualling of the A5. I would point them to the second road investment strategy for England. I liaise with the Welsh Government Minister Ken Skates regularly to pursue the issue, because it works for much better co-operation if we bring together investment priorities. My hon. Friend’s efforts are paying significant dividends in the negotiations.
Cross-border Economic Opportunities — House of Commons, 2018-01-31
Topic: Transportation
David Anthony Andrew Amess (Conservative, Centre-right): Every "Gavin and Stacey" fan knows that the journey from Essex to Wales involves the most expensive toll bridge charges in the country, so I am delighted that this Conservative Government have removed the burden of crossing the border for tourists, businesses and commuters generally. Will my right hon. Friend tell the House how he intends to capitalise on that wonderful news?