argyrotsipi/train-dataset huggingface dataset:
Finance Bill — House of Commons, 2016-06-28
Topic: Macroeconomics
David Michael Gauke (Conservative, Centre-right): I do not think that this has to be universal, but there would be disadvantages for the UK if we were the only country to do it. There is a sense that UK companies would be criticised for failing to pay very much tax in jurisdictions where they did not have a lot of activities but had a lot of sales. This comes back to the point about educating the public about how corporation tax works. I think it would be an awful lot easier if there were just a few examples of other countries doing this. I do not think it needs to involve every other country, but if, for example, Germany, France and Italy had the same type of system, every time a UK company was criticised we could say, "What about that French company? What about that Italian company? The same principles apply to them." We do not have to move at the pace of the slowest, but if we adopt an isolated position on this, there would be a reputational risk for UK businesses. We do not need to run that risk, particularly as good progress is being made, and I urge the House not to accept this amendment. Instead, I hope that we will be able to implement a measure over the next few months.
Finance Bill — House of Commons, 2016-06-28
Topic: Foreign Trade
David Mowat (Conservative, Centre-right): I suppose it depends which multinationals are in which segment of competition, but is the Minister saying that as long as, say, two or three other countries were to do this, the UK would join in?
Finance Bill — House of Commons, 2016-06-28
Topic: Macroeconomics
David Michael Gauke (Conservative, Centre-right): I do not want to put a precise number on this. There is a threshold, and it depends on which countries those might be, but if I thought that three or four significant economies were going in the same direction, the case for doing this would be much stronger. Or, to put the reverse argument, if I were standing here next year and two or three other countries had gone down this route, the concerns that I am expressing from the Dispatch Box today would clearly carry less weight than I think they do today.
Finance Bill — House of Commons, 2016-06-28
Topic: International Affairs
David Michael Gauke (Conservative, Centre-right): Well, it supports my optimism that we are on the cusp of a multilateral deal, and that will enable us to work out the legislation in the most comprehensive and effective way. As I have said, our preference would be to do this through company law rather than through a Finance Bill, but the hon. Lady’s intervention supports what I was saying earlier about the comments of the relevant EU Commissioner at the last ECOFIN meeting in Luxembourg, which I attended 11 days ago. He was optimistic that we would reach agreement by the end of this calendar year. If that is the case, it is hugely encouraging, and the point that the hon. Lady has just made supports that proposition.
Finance Bill — House of Commons, 2016-06-28
Topic: Macroeconomics
Nigel John Mills (Conservative, Centre-right): I hope that the Minister will be willing to channel the leadership and enthusiasm that the UK showed in relation to the diverted profits tax, when we chose to go out alone and not wait for international agreements on base erosion and profit shifting. We introduced a whole new tax, with compliance burdens and penalties, and I suspect that that was a far bigger deal than requiring companies simply to disclose what they are already disclosing but in a slightly different format. I think that that was the right way to go.
Finance Bill — House of Commons, 2016-06-28
Topic: International Affairs
Andrew John Bower Mitchell (Conservative, Centre-right): The Minister is being extremely generous in giving way. I am sure we all agree with him that this should be done multilaterally—there is nothing between us on that—and I am sure that it will be helpful to his aim of being able to demonstrate strong support for this across the House of Commons when he is dealing with his international partners. I should like to make a suggestion, and I hope that it will be helpful. Would he consider asking his officials to draft a clause for public discussion that is not defective and that he could put to his colleagues multilaterally as a measure that they might wish to include in their parliamentary legislation?
Finance Bill — House of Commons, 2016-06-28
Topic: Macroeconomics
David Michael Gauke (Conservative, Centre-right): My point would be about the sheer scale of the information provided to HMRC. I quoted the 125,000 pieces of information from the public, but by no means are all of those whistleblowers. HMRC certainly does receive a substantial amount of information from whistleblowers, which is helpful. As for how that works and its contribution to HMRC’s activities, I am not aware of worries that that is not working or that the existing provisions with regards to whistleblowers are ineffective. Of course these matters are always kept under review. If I thought that there was a strong case for returning to this issue, I would certainly be interested in doing so, but I am not hearing that at present The right hon. Member for Barking (Dame Margaret Hodge) has been waiting very patiently for me to turn to new clause 9, which would require the Government to estimate the impact on the tax gap of expanding our forthcoming register of persons with significant control to companies in the Crown dependencies and overseas territories. I do not believe that the clause would be effective in achieving its aims. It would cast the net too narrowly by focusing on companies with significant levels of trading activity in the UK. As the Prime Minister announced at the recent anti-corruption summit last month, the Crown dependencies and overseas territories have agreed to hold beneficial ownership information on all companies incorporated in their jurisdictions. Importantly, they will share that information with Her Majesty’s Revenue and Customs and UK law enforcement agencies, which means that our authorities will be able to see exactly who owns and controls companies incorporated there. Although I understand the aims of the new clause, it would be less effective than the steps that we have already taken to improve transparency and tackle tax evasion. I do have some sympathy with the argument that, no doubt, we will hear from the right hon. Lady, but I am not persuaded by it, and I hope that she will not press her new clause to a vote I will not take up any more time of the Committee. I have tried to cover as much ground as I can and to anticipate the arguments that we will hear for the rest of this debate. I hope that the Government clauses, schedules and amendments can stand part of the Bill.
Finance Bill — House of Commons, 2016-06-28
Topic: Energy
David Mowat (Conservative, Centre-right): The hon. Gentleman is right that somebody has to go first. I have one thought for him, and I would be interested in his view. His country relies quite heavily on the oil industry. Is he absolutely certain that it is right to impose something on Shell or BP that the Italian Government will not impose on Eni and the French Government will not impose on Total?
Finance Bill — House of Commons, 2016-06-28
Topic: International Affairs
David Michael Gauke (Conservative, Centre-right): I am not sure about the practicality of that. I will also make the point that we remain members of the European Union. There does not seem to be any likelihood of our leaving the EU within two years. Given the progress currently being made on public country-by-country reporting, I hope that the process will conclude while our membership continues As I have said, there are some technical issues that could be ironed out in amendment 1, but the fundamental issue of not being able to access information from foreign multinational entities that are not headquartered in the UK would remain a problem. Even with the best will in the world—and the best lawyers and parliamentary counsel—we will not be able to solve that problem.
Finance Bill — House of Commons, 2016-06-28
Topic: Macroeconomics
Nigel John Mills (Conservative, Centre-right): It is a pleasure to follow the hon. Member for Wolverhampton South West (Rob Marris). I want to say a few words about clause 42, because although I clearly welcome the planned reduction in corporation tax by 2020, following the welcome vote last week, it may now need to be part of the picture of how we change our business tax regime over that period. Unlike earlier, there are now a few more of us present who thought the vote was welcome For us to capitalise on the opportunities of leaving the European Union, we will have to make our country even more attractive to outside investment to stimulate growth, a key part of which is our corporation tax system. As the Minister is planning ahead that far and as we now have the special group in the Cabinet Office under the Chancellor of the Duchy of Lancaster, I urge careful thought about what our tax system should look like by the time we leave the European Union, what signals we are giving and how we can further improve it and make it more attractive. Perhaps we could look at an even lower rate to send out a signal that we are positive about business activity and that we want more investment and will reward it further Perhaps we could look again at how we do capital allowances, especially for infrastructure investment and manufacturing items, for example. Perhaps we could re-examine how we give tax relief for the building of new factories. This country is not actually that generous and does not give tax relief for any industrial building, which is not a clever way of encouraging manufacturing. In fact, we are one of the least attractive tax regimes for various infrastructure investment activity because of our lack of relief for structures. Perhaps now that we have the need and the time to review that, we should ask whether it is clever to structure our tax system in a way that is not as attractive as possible for industrial building and infrastructure activity, especially as we will need a lot of investment as we go forward.
Finance Bill — House of Commons, 2016-06-28
Topic: Foreign Trade
David Henry Rutley (Conservative, Centre-right): I want to add my support to clause 42, notwithstanding the important points made by my hon. Friend the Member for Amber Valley (Nigel Mills), who set out the need for further thinking, perhaps, in the light of the Brexit vote. I was on a different side of the debate from him—only marginally—because I thought that there were concerns about economic risk, but there are certainly opportunities ahead, as well We need to ensure that we are ready to explore and realise those opportunities and the Government are absolutely committed to doing that. I hope that the Opposition are as well. It seems that the hon. Member for Wolverhampton South West (Rob Marris) is indicating that. We are up for that. As a result, I am perplexed about why clause 42 is not being supported by the Opposition. Such measures were vital when the proposals were first set out, and it is now even more important to put out a clear signal that we are open for business, that we understand business, that we want business to continue to come to the UK and that we want our exporters to thrive and flourish The corporation tax level is an important signal and an important driver in that regard. It is noticeable that the Federation of Small Businesses stated at the time of the announcement that it saw clause 42 as an important statement of intent that will provide a boost for affected firms. Small businesses are of course the backbone of our economy, but it is clear that the clause is an important signal for bigger businesses, too. It helps to illustrate and underline that Britain is open for business Given the decision made by the public, which I fully respect, it will be very important that we maintain the flow and increase the levels of foreign direct investment. I thought we were exposed in that area for a period of time, and I think that that exposure is still real, but we are currently the biggest destination in Europe for foreign direct investment. We have seen the biggest increase in FDI in projects in the north-west and I want to work with the Government and whichever party is around to ensure that we continue to see that flow. I want to ensure that the success we see in the country continues and that the northern powerhouse can fulfil its full potential. Key initiatives such as the life sciences corridor in Cheshire will require clear signals to businesses in the UK and abroad that we are open and want to move further forward, which is why I will support clause 42 when we vote, as I understand we will.
Finance Bill — House of Commons, 2016-06-28
Topic: Foreign Trade
David Henry Rutley (Conservative, Centre-right): The hon. Gentleman is making characteristically important points. Although there has been a nod to what has gone on in the US, it is important to look at what is happening in the UK. As we have seen a reduction in corporation tax, we have seen a strong performance in foreign direct investment. Let us look at what has happened here, which has helped to move the situation further forward—and no doubt it has done so in Northern Ireland as well as the mainland.
Finance Bill — House of Commons, 2016-06-28
Topic: Macroeconomics
David Michael Gauke (Conservative, Centre-right): I shall be relatively brief in responding to the debate. I addressed one of the issues that we have debated in my fairly lengthy remarks earlier and there is also a certain sense that these are issues we have debated in the past. I certainly remember debating the issue of carried interest with the hon. Member for Kirkcaldy and Cowdenbeath (Roger Mullin) in last year’s Finance Bill. He made very similar points and I am inclined to make very similar points in response, so I will not necessarily run through all that once again. I remind the hon. Gentleman that where we are talking about remuneration that is income, we are determined to ensure that it is taxed as income. As a Government we have shown a willingness to make changes in this area Let me turn to the wider issues of capital gains tax and yet again welcome the hon. Member for Salford and Eccles (Rebecca Long Bailey) to her position. I wish her a long and distinguished period as shadow Chief Secretary, given that I understand that there might be uncertainty more generally on the Labour Front Bench. It is extremely important that our tax system is competitive and encourages investment, which will drive our economy forward in the future. A number of external bodies have welcomed the steps that we have taken in reducing CGT rates. The CBI and the Institute of Economic Affairs have welcomed these cuts as means to encouraging entrepreneurship and growth. A number of internal studies indicate that lower rates of CGT support equity investment in firms and promote higher-quality investment in start-ups. That is an important source of innovation and growth.
Finance Bill — House of Commons, 2016-06-28
Topic: Macroeconomics
David Henry Rutley (Conservative, Centre-right): I am sorry that my hon. Friend is in so much pain when he stands up I am surprised by some of the things said in this debate. We all recognise the importance of enterprise and of encouraging further enterprise, particularly in the northern powerhouse, as the hon. Member for Salford and Eccles (Rebecca Long Bailey) recognised. We can achieve the aim of encouraging enterprise by using exactly the mechanism that my hon. Friend talks about. Does he agree that that is why the bodies he mentions have made this proposal? It will make a material difference to our enterprising spirit and economic growth.
Finance Bill — House of Commons, 2016-06-28
Topic: Macroeconomics
David Michael Gauke (Conservative, Centre-right): My hon. Friend makes an excellent point. We must create wealth in this country to be a successful economy. We need to have an entrepreneurial and dynamic economy. He made this point earlier in the context of corporation tax, but similar arguments can be made in the context of CGT as well On the criticism that entrepreneurs relief is badly targeted, I argue that, of course, as with all tax reliefs, it is entirely appropriate that the Government keep it under review to ensure that it is well targeted and not open to abuse, but we believe that it is right to incentivise individuals to set up and expand their businesses. Entrepreneurs relief plays an important part in our pro-growth agenda. It is a highly popular and widely used relief, which supports about 40,000 entrepreneurs a year, according to our latest data. We do not believe that this support should be withdrawn. The latest published cost of entrepreneurs relief is £3 billion, but that is a static figure; the true cost will be different, due to potential changes in the disposals and behavioural change. That behavioural change is very important. On when the data for 2014-15 will be released, these statistics are published annually, and the new release is due in October 2016 On rates going up and down, let me point out that the 28% higher rate of CGT was introduced in 2010, by the coalition Government, and this is the first change since then. The Government have published the "Business tax road map", setting out plans for business taxes over the entire Parliament and providing some certainty and stability to businesses On the argument that employee shareholder status should be withdrawn, we believe that ESS provides vital flexibility for early-stage firms and that it is right that employee shareholders receive tax benefits on shares awarded in exchange for relinquishing certain employment rights. The purpose of the lifetime limit is to ensure that small firms can offer attractive tax benefits to employees, while ensuring that the benefits are proportionate and fair I hope that, with those remarks, I can seek to dissuade the Labour party from voting against the reductions in CGT and the SNP from pressing its amendment to a vote, but if I have been unsuccessful in persuading them not to do so, I urge my right hon. and hon. Friends not to support such measures Question put, That the clause stand part of the Bill.
West Bank — House of Commons, 2016-07-12
Topic: International Affairs
Questions: What assessment he has made of trends in the number of demolitions by Israel of Palestinian homes and other structures in the west bank in 2016.
Tobias Martin Ellwood (Conservative, Centre-right): Before answering this question, may I take this opportunity to say that, two weeks ago, I had the difficult task of responding to the written Foreign Office question submitted by our former colleague, Jo Cox? Given her active role in foreign affairs, I completed this task because I believe it is what she would have wanted. Given the frequency and the passion with which she spoke and indeed influenced policy in this very forum at Foreign Office questions, I thought it appropriate to begin by paying tribute to her.
West Bank — House of Commons, 2016-07-12
Topic: International Affairs
Questions: What assessment he has made of trends in the number of demolitions by Israel of Palestinian homes and other structures in the west bank in 2016.
Tobias Martin Ellwood (Conservative, Centre-right): Thank you, Mr Speaker We are deeply concerned by the continued demolition of Palestinian property by Israeli authorities, and the worrying spike in the rate of demolitions this year. In all but the most exceptional circumstances, demolitions are contrary to international humanitarian law. We regularly raise our concerns about demolitions with the Israeli Government. We make it clear that such actions do not encourage the confidence-building measures needed for talks to recommence.
West Bank — House of Commons, 2016-07-12
Topic: International Affairs
Questions: What assessment he has made of trends in the number of demolitions by Israel of Palestinian homes and other structures in the west bank in 2016.
Tobias Martin Ellwood (Conservative, Centre-right): Thank you very much for those initial comments. We agree and we are hugely concerned about the rate of demolitions. We need to place additional pressure on Israel and, indeed, the Palestinians to come to the table. I am pleased that we held a summit in Paris to discuss the overarching challenges that we face and the role that the international community can play. The extent of the demolitions was highlighted in the Quartet report, produced by Russia, the US, the EU and the UN, which underlines the very concerns that the hon. Gentleman has outlined.
West Bank — House of Commons, 2016-07-12
Topic: International Affairs
Questions: What assessment he has made of trends in the number of demolitions by Israel of Palestinian homes and other structures in the west bank in 2016.
Eric Pickles (Conservative, Centre-right): I, too, would like to associate myself with the Minister’s moving words about our late colleague, Jo Cox. As for the general point, my hon. Friend is quite right when he says that this will not help in moving towards a position in which people come together to talk. There is, however, the other side of the coin, with 36 Israelis, along with four foreign nationals, murdered this year. Instead of condemning the murders, the Palestinian Authority glorified them. Surely, when just this weekend the Israeli Prime Minister said that he would meet without conditions, we should urge the Palestinian authorities to do precisely that and have direct talks.
West Bank — House of Commons, 2016-07-12
Topic: International Affairs
Questions: What assessment he has made of trends in the number of demolitions by Israel of Palestinian homes and other structures in the west bank in 2016.
Tobias Martin Ellwood (Conservative, Centre-right): My right hon. Friend raises a very important issue. We regularly raise and discuss these matters at Foreign Office questions. Now that we have had the Paris summit and seen a meeting between Prime Minister Netanyahu and Egyptian Foreign Minister Shoukry, we can see this issue coming back on to the agenda. My concern—I raised it at the Paris summit—is that with all the other distractions and concerns in the middle east, we have lost sight of something that needs to be resolved. My right hon. Friend makes the important point that the actions of the Palestinians do not go unnoticed, and we require the leadership of President Abbas to make it clear that those actions must be condemned.
West Bank — House of Commons, 2016-07-12
Topic: International Affairs
Questions: What assessment he has made of trends in the number of demolitions by Israel of Palestinian homes and other structures in the west bank in 2016.
Tobias Martin Ellwood (Conservative, Centre-right): I will certainly look into the case that the hon. Lady raises. My right hon. Friend the Foreign Secretary is concerned about the treatment of Palestinian children detained in Israeli prisons and has raised it with the United States Secretary of State, John Kerry, and I raised it during my recent visit to Israel. We have done some work—and, indeed, have invested some funds—to ensure that the children are looked after in the best possible way.
West Bank — House of Commons, 2016-07-12
Topic: International Affairs
Questions: What assessment he has made of trends in the number of demolitions by Israel of Palestinian homes and other structures in the west bank in 2016.
Philip Thomas Hollobone (Conservative, Centre-right): The demolition of Arab houses, and of Jewish houses, was started by us, the British, between the wars, during the operation of the terms of the British mandate for Palestine. Today, the Israeli Government specifically cites British mandate law as a justification for the current demolitions. Has the Minister had conversations with his Israeli counterpart about the legitimacy of using that law today?