argyrotsipi/train-dataset huggingface dataset:
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): As I say, the primary responsibility lies with the eurozone and the European Central Bank, and they have put in place better mechanisms than they had three or four years ago. The European Central Bank has its outright monetary transactions mechanism, we have the European stability mechanism—in other words, bail-out funds—and the European Central Bank is also taking a supervisory role, so they are better prepared. However, I was very clear in my statement that however well prepared they are, a Greek exit from the euro would be a substantial financial shock, which would have an impact on the European financial system and on us. That is why we have taken steps to make sure our banking system is better prepared than it was seven or eight years ago.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
Christopher Heaton-Harris (Conservative, Centre-right): There are no provisions in European treaties for a country to leave the euro, let alone to leave the euro and stay within the EU, so should Greece leave the eurozone, will not European treaties need swift and significant amendment?
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): As is often the case, my hon. Friend has gone to one of the interesting points in this whole issue. The best thing to do at the moment is to see how things unfold in the next few weeks, but it is fair to say that there is not an easy and clear mechanism for Greece to leave the euro.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): The hon. Gentleman is right to say that Britain has been a long-standing friend of Greece and the Greek people. There is huge affection in Britain for the country and its people, as evidenced by the fact that so many people choose to spend their holidays there. There is such solidarity and friendship with Greece, but Greece has to make its own decisions On our contacts with the Government—I was asked about them earlier—I have of course spoken over the past few months with the Greek Finance Minister and our Prime Minister spoke to the Greek Prime Minister just a week or two ago.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
David Mowat (Conservative, Centre-right): One aspect of all this is the amount of money that the IMF might be about to lose. That money was subscribed by some of the poorest countries in the world, including countries poorer than Greece. Does the Chancellor agree that it would be quite wrong for places such as India to take a hit for any of this? Has he had any discussions to that effect with the IMF?
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): As I said earlier, the IMF has preferred creditor status and it has precautionary balances—in other words, it can withstand losses—and no one has ever lost money by providing support to the IMF, so we should bear that in mind as we have these discussions.
Greece — House of Commons, 2015-06-29
Topic: Social Welfare
George Gideon Oliver Osborne (Conservative, Centre-right): Over the past five years, we in this country have of course taken steps to reform our welfare system to make sure it is affordable and to reform our public sector pensions so that we can go on providing assistance to our population and help the most vulnerable in our population. The broader point is that the people who suffer when an economy fails and a Government spend more money than they have are the poorest people in the country, not the richest.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
Luke Anthony Hall (Conservative, Centre-right): We all urge the people of Greece to reach a resolution to the current situation. Does the situation not perfectly demonstrate why Britain needs a credible economic plan that keeps our economy secure when there is uncertainty abroad, as well as when there is stability?
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): My hon. Friend is absolutely right. The situation illustrates why you need a credible economic plan, why you need to make sure that your country is protected from shocks happening around the world and, in short, why you should fix the roof when the sun is shining.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
Kevin John Foster (Conservative, Centre-right): The situation in Greece demonstrates that one cannot mix a single currency with numerous and in some cases reckless fiscal policies. We discussed that point during the Scottish referendum last year. Will my right hon. Friend reassure my constituents that the necessary steps are being taken to protect UK interests whatever the outcome of the forthcoming referendum?
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): I can assure my hon. Friend that we are taking such steps, and we are working closely with the Governor of the Bank of England. My hon. Friend’s broader observation about credible fiscal policy, whether in the United Kingdom or in the broader European economy, is well made.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
Robert John Blackman (Conservative, Centre-right): One of the options that the Greek Government appear to be pursuing is that of a Russian bail-out. What assessment has my right hon. Friend made of the impact of such a scheme on banks in London and the eurozone in particular?
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): As I said earlier, I do not think that anyone has been particularly enamoured with Syriza’s foreign policy, but what has been clear over the past few weeks is that it really needs to resolve the issue it faces with the eurozone.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): Frankly, a lot of that industry is pretty international these days, and I suspect quite a lot of those involved in it have foreign bank accounts as well as Greek bank accounts. It is a very important industry, and it is one of the industries that can help the Greek economy if that economy is competitive. One of the big issues in Greece has of course been the competitiveness of the Greek ports in particular More broadly, I thank my hon. Friend for his support of the action we took during the last Parliament. More properly, I should credit the Prime Minister, who secured exit from the eurozone bail-outs at an important European summit.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
Alan Mak (Conservative, Centre-right): Our economic and financial security and the protection of household budgets are of paramount importance to my constituents. Can the Chancellor reassure the House and my constituents that every step is being taken to urge a resolution abroad, and to protect taxpayers and savers here at home?
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): I can reassure my hon. Friend that we are taking steps not just to protect the UK from whatever the Greek crisis throws at us but, more broadly, to ensure our economic stability here at home. That will be an important part of the Budget that I will present to the House next week
Points of Order — House of Commons, 2015-06-29
Topic: International Affairs
John Simon Bercow (Conservative, Centre-right): The record shows that the Prime Minister has regularly come to the House to update it on his policies in respect of the European Union. It is not for me specifically to facilitate such an occasion. However, I say two things to the right hon. Gentleman. First, the Prime Minister is here weekly at Prime Minister’s questions, and that might be a suitable opportunity for people from a range of parties to question him on that matter if they so wish. Secondly, if the right hon. Gentleman is keen to have a debate on foreign affairs or a debate specifically on Britain’s relations with the European Union and feels that he could grace us with his presence on the occasion of business questions, I promise that my eyesight will not fail me. I will see the right hon. Gentleman and feel my usual insatiable desire to hear him.
Bills Presented — House of Commons, 2015-06-29
Topic: Government Operations
John Simon Bercow (Conservative, Centre-right): The hon. Member for Wellingborough (Mr Bone) is destined to be a very busy bee Railways Presentation and First Reading (Standing Order No. 57) Caroline Lucas, supported by Jeremy Corbyn, Ian Lavery, Kelvin Hopkins, John McDonnell and Hywel Williams, presented a Bill to require the Secretary of State to assume control of passenger rail franchises when they come up for renewal; and for connected purposes Bill read the First time; to be read a Second time on Friday 22 January, and to be printed (Bill 35). Public Services (Ownership and User Involvement) Presentation and First Reading (Standing Order No. 57) Caroline Lucas, supported by Ms Margaret Ritchie, Jeremy Corbyn, John McDonnell and Louise Haigh, presented a Bill to promote public ownership of public services; to introduce a presumption in favour of service provision by public sector and not-for-profit entities; and to put in place mechanisms to increase the accountability, transparency and public control of public services, including those operated by private companies Bill read the First time; to be read a Second time on Friday 22 January, and to be printed (Bill 36).
Scotland Bill — House of Commons, 2015-06-29
Topic: Macroeconomics
Edward Julian Egerton Leigh (Conservative, Centre-right): I beg to move amendment 124, page 14, line 14 , at end insert— ‘( ) The Scottish Parliament may determine the level of each threshold of income at which a Scottish taxpayer becomes liable for income tax at any of the rates set by the Scottish Parliament;" This amendment allows the Scottish Parliament to decide at what threshold of income Scottish taxpayers should have to pay the basic rate or any of the other income tax rates to be set by the Scottish Parliament.
Scotland Bill — House of Commons, 2015-06-29
Topic: Macroeconomics
David Anthony Andrew Amess (Conservative, Centre-right): With this it will be convenient to discuss the following: Clauses 12 to 14 stand part New clause 32—Treasury Review of the implementation of Scottish rates of income tax— ‘(1) The Treasury shall, no later than one year after the date on which this Act is passed, publish and lay before the House of Commons a review of the implementation of the Scottish basic rate and any other income tax rates for the purposes of section 11A of the Income Tax Act 2007 (2) The Treasury review must include— (a) a review of the revised fiscal framework; (b) the tax year to which sections 12 and 13 of this Act will apply, and the day on which they are due to come into force; (c) the number of staff assigned by the Scottish Government, Revenues Scotland and Her Majesty’s Revenue and Customs, to the project implementing the Scottish basic rate, and any other rates; (d) a report on the identification of Scottish taxpayers who will be liable to pay the Scottish basic rate, and other rates; (e) the rates and bands at which the Scottish basic rate, and any other rates, have been set by the Scottish Parliament; and (f) a projection of the impact of the Scottish basic rate, and any other rates, on income tax revenues generated in Scotland and across the UK.’ This New Clause would provide for a review of the progress in implementing the new Scottish rate of income tax. This will include a review of the revised fiscal framework, a task that will hereafter be undertaken by the Scottish Office for Budget Responsibility. New clause 54—Taxes on income— ‘In Section A1 in Part 2 of Schedule 5 (fiscal, economic and monetary policy) to the 1998 Act, in the Exceptions, after the entry for local taxes insert "Taxes on income."’ This new clause is intended to devolve income tax completely to Scotland.
Scotland Bill — House of Commons, 2015-06-29
Topic: Macroeconomics
Edward Julian Egerton Leigh (Conservative, Centre-right): My simple amendment would allow the Scottish Parliament to set tax thresholds, as any good Parliament should be able to do, and is a genuine attempt to elicit from a Minister the reasons why the Scottish Parliament is not currently allowed to set the personal allowance. I am a lawyer, but I do not claim to be a tax expert or an economist. [Interruption.] Well, it’s just the truth. I am not an expert tax lawyer or economist. This is a probing amendment to help us investigate a complex issue, to which we can always return on Report The House of Commons Library has illustrated the complexity of the issue: "The Bill as it stands would allow the Scottish Parliament to set the bands of income at which different Scottish rates of tax would apply. Clause 12(3) states that where there is to be more than one Scottish rate, the resolution which sets these rates ‘must also set limits or make other provision to enable it to be ascertained…which rates apply in relation to a Scottish taxpayer.’" That is not immediately terribly clear, but it continues: "So, if the Scottish Parliament wished to, it could set a zero rate of tax over a specific band of income, in effect increasing the personal tax allowance to all Scottish taxpayers." Importantly, in its briefing on the Smith commission, the Institute for Fiscal Studies asked why the power to set the allowance was to be reserved. That is the question I am asking. The IFS, a reputable body, has asked it, and I am simply using the amendment to ask it again. I think most people would agree that setting tax and then spending the money raised is a prerequisite of a responsible Parliament It is not necessary to go over all the arguments I used on Second Reading or in Committee two weeks ago—they are on record—but suffice it to say that power breeds responsibility. The Scottish Parliament must take responsibility for its own destiny in the firm conviction that it is ready and able to do so. So why are we devolving bands and rates, but not thresholds? Is not setting the threshold at which people start to pay tax—the personal allowance—vital to the decision-making process? Setting a band or rate but not a threshold is like being willing and able to leap the bar in high jump without having any control over where the height is calculated from. It does not make any sense. What we are giving the Scottish Parliament is only half a power. Are not thresholds much the most interesting part of the equation? We spent a lot of time last Parliament debating that point in relation to the UK economy.
Scotland Bill — House of Commons, 2015-06-29
Topic: Macroeconomics
Nigel John Mills (Conservative, Centre-right): Does it not go even further? Without the Scottish Parliament having control over the rules and the tax base, the UK Parliament could create a load of new reliefs that would cost it a fortune. If we are going to devolve income tax, we ought to devolve the whole thing, not just part of it.
Scotland Bill — House of Commons, 2015-06-29
Topic: Macroeconomics
Edward Julian Egerton Leigh (Conservative, Centre-right): That is a very important point. We always moan about tax avoidance. I have been talking to people in Scotland, and it appears now that wealthy people will be putting more and more money into dividends precisely to avoid tax. I cannot understand the logic of encouraging people to avoid paying tax by putting their money in dividends.
Scotland Bill — House of Commons, 2015-06-29
Topic: Macroeconomics
Anne Margaret Main (Conservative, Centre-right): Last week, I supported the SNP on full fiscal autonomy and scrapping the Barnett formula, although I know the hon. Gentleman did not. The SNP Members all trooped through the Lobby to vote for that, so does he share my surprise that they have come back today with amendments that do not include it?
Scotland Bill — House of Commons, 2015-06-29
Topic: Macroeconomics
Nigel John Mills (Conservative, Centre-right): Yes, as I was saying, I accept there are always reasons for drawing the line where we do, and trying to stop tax avoidance within a territory is a powerful reason. However, that has left us here with a convoluted tax system where we seem to be devolving part of it, and that is not a sensible approach. It would be better to have a federal income tax which everyone in the UK paid at a lower rate than they pay now and which covered all passive income, and then have a devolved income tax like the one in the United States. It has a state income tax that can be credited against the federal one. That may be a better, more sustainable system than the one we have.
Scotland Bill — House of Commons, 2015-06-29
Topic: Macroeconomics
Nigel John Mills (Conservative, Centre-right): I have tried to convince the Treasury Minister, my hon. Friend the Member for South West Hertfordshire (Mr Gauke), of various tax reforms over the last five years with, I would have to say, somewhat limited success, so I am not sure my words will help. If we are to achieve a lasting settlement of our constitution, having these tax rules in the right place with everyone understanding them and believing them to be fair will be extremely important. I do not think my constituents will understand how Scotland can set a different rate of income tax from what they pay if Scottish MPs are still able to vote on the English rate of income tax because it applies to passive income and dividend income. I suspect we will get into a constitutional nightmare, and I can foresee a situation in which Scotland chooses a lower rate of income tax than we have in England, and the English taxpayer will, rightly or wrongly, see a subsidy going from England to Scotland through the Barnett formula and then SNP MPs coming here and voting for a higher rate of income tax than their constituents are paying. That is the nightmare we would hate to see We need to have a clear devolution of taxes and responsibility, not what I fear we have here: a halfway fudge that we will have to try to fix in a few years’ time.
Scotland Bill — House of Commons, 2015-06-29
Topic: International Affairs
David Gordon Mundell (Conservative, Centre-right): May I start by agreeing with the hon. Member for Edinburgh South (Ian Murray) that we should put on record our thoughts for those people who have been caught up in the events in Tunisia, particularly those from Scotland who have perished? Although our debate has been curtailed today, it is right that that matter has been given such due consideration in this House. I say to the right hon. Member for Orkney and Shetland (Mr Carmichael) that I have considered the various issues raised in the House in the first part of our Committee stage, and I will continue that approach through the further days in Committee.
Scotland Bill — House of Commons, 2015-06-29
Topic: Macroeconomics
David Gordon Mundell (Conservative, Centre-right): I would like to make a little progress Since the Committee last met, I have had the opportunity to appear before the Devolution (Further Powers) Committee—to give it its full title—and to listen to its views and explain the Government’s stance. I can assure the hon. Member for Dundee East (Stewart Hosie) that that Committee will continue to play a full part in my consideration of the Bill as it progresses through the House, and I have assured the convener of that I had a very useful meeting with the Deputy First Minister to look at how we move forward, particularly in relation to the fiscal framework, and I am going to disappoint the hon. Gentleman, but in a good way, because the criticism that was forthcoming from the Committee to both me and the Deputy First Minister was that we both said the same thing to the Committee, which was that we are not going to give a running commentary on the negotiation of the fiscal framework. What I can say is that the list of issues that the hon. Gentleman referred to in his contribution will be part of the discussion of the fiscal framework. We will of course keep this House updated from a UK Government perspective, but it will be for the Scottish Government to keep the Scottish Parliament updated I am pleased to start with the clauses on income tax in today’s debate. These are often overlooked, meriting only a few lines in the comments received on the Bill from both Parliaments and from the Scottish Government, but that is because, as has been said, they command widespread support as delivering the central aspect of the Smith agreement in full The changes made by clauses 12, 13 and 14 will give unprecedented flexibilities to the Scottish Parliament on income tax and are a significant milestone in Scotland’s devolution journey within the UK. The Scottish Parliament will be able to set income tax rates and thresholds for earned income. This includes the ability to introduce new bands.
Scotland Bill — House of Commons, 2015-06-29
Topic: Macroeconomics
David Gordon Mundell (Conservative, Centre-right): Obviously I am familiar with Cuthbert’s views on a range of issues, and many of the points the hon. Gentleman refers to will indeed be dealt with in the fiscal framework, which is why that is important for delivering a stable settlement The Scotland Parliament will retain the receipts from the income tax it is responsible for. This represents a significant devolution of powers, with Scotland retaining around £11 billion of income tax receipts. That accounts for over 90% of income tax receipts collected in Scotland. This gives Scotland greater fiscal autonomy, with incentives to increase employment and increase wage growth I emphasise to Members that there are no restrictions on this power. If the Scottish Parliament wants an income tax system with a dozen different rate bands, these powers allow it to do that. Similarly, if it wants to set a zero rate of income tax, it can As I said on Second Reading, the devolution of the rates and bands of income tax means we will correct a fundamental imbalance in the devolution settlement. Since 1999, the Scottish Parliament has debated how public money should be spent but not how it should be raised. The Scotland Act 2012 started to change that, giving the Scottish Parliament more tax-raising powers. The Bill goes much further As things stand, the Scottish Government still receive the vast bulk of their budget in a block grant from this Parliament and choose how to distribute that budget according to their priorities. When the UK Government have taken difficult decisions to bring our public finances back into order, the Scottish Government have often condemned us for inflicting cuts. Although I believe those spending reductions were necessary to secure our economy and are far preferable to increasing taxation on working families in Scotland, it is true that the Scottish Government took a different view. These clauses will allow them to do something about it With control of the rates and bands of income tax in Scotland, the Scottish Parliament will raise over half the money that it spends. If the Scottish Government want more money to spend on their priorities, such as higher welfare payments, they will be able to increase taxes to raise that money. However, they will have to justify that spending to the hard-working men and women in Scotland who will be paying for it out of their wages every month.