Topical Questions — House of Commons, 2017-11-28
Topic: Domestic Commerce
Questions: Small businesses in my constituency suffer from late payments from their larger clients. Some firms have been forced to accept discounts of up to 10% just to get paid within 90 days. The Government have introduced welcome measures to make large firms behave more transparently on payments, but does the Chancellor stand ready to take further action to stop big firms using small businesses as a source of cheap loans?; Businesses in Newark welcome rising public investment in research and development, but even more they welcome the chance to do it themselves with lower business taxes under this Government. What will the Chancellor do to encourage more businesses to take up the increased research and development tax credits and the patent box delivered in the Budget?; I congratulate the Chancellor on freezing the duty on wine and spirits and ensuring that future changes come into effect only after Christmas, but will he now look at the anomaly whereby excellent English sparkling wine, at 11% strength, is taxed at £2.77 a bottle, compared with just £2.16 for higher strength still wine and just 2p a bottle in France? Post Brexit, will he give a boost to this growing, quality British product?; We welcome the scrapping of VAT for Scotland’s police and fire services—and this Government finally seeing sense on this issue—but in an interview this year the Conservative MSP Murdo Fraser said that “there is no justification for a VAT refund”.What does the Chancellor think of that statement? Does he not agree that the £140 million of VAT paid should be reimbursed to our vital emergency services?; Does my right hon. Friend agree that it is thanks to Conservative action that today the richest 1% are paying 27% of all income tax revenue? That is more than at any time under Labour, and it makes that gap between rich and poor the lowest on record.; Will the Chancellor take this opportunity to confirm to the House the statement that the Prime Minister gave to the Manchester Evening News on Sunday evening that the Government will reimburse all the moneys that have fallen on Manchester services as a result of the Arena attack, as well as future costs such as the coroner’s inquest, which is just starting?; The Chancellor will be aware of the need for investment in Devon’s infrastructure, particularly to ensure the resilience of the coastal railway at Dawlish. What reassurance can he give me that funding will be available to carry out the scheme being proposed by Network Rail and to deliver the aspirations of the Peninsula Rail Task Force?; The Scottish Government have committed £250,000 to funding four basic income projects across Scotland. This will enable the Scottish Government to make evidence-based policy. Will the UK Government commit themselves to funding a basic income project?; I was delighted when the Financial Conduct Authority extended its compensation scheme to cover debt management companies, but will the Chancellor tell the House whether he has had any discussions with the FCA about backdating the compensation scheme to cover the victims of Compass Debt Counsellors? They lost £5.5 million when it was purloined by Compass Debt Counsellors before it went into liquidation in 2016, so will he agree to meet me and the victims?
Philip Hammond (Conservative, Centre-right): I do agree with my right hon. Friend. Financial services is of course a vital sector. The details of the publication of documents is a matter for DExEU, but as she has raised the matter I will look into it and let her know.