argyrotsipi/train-dataset huggingface dataset:
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Macroeconomics
Andrew Tyrie (Conservative, Centre-right): Yes I do, and I think it is in better shape than it was. It is important to remember that HMRC is a much-maligned department. Have any of us ever met people who like taxmen and women? They are not the most popular bunch, and they are easy targets. They have certainly made their share of mistakes, but they are being asked to implement a difficult tax code, and they have been doing their best in very difficult circumstances Of course we need more supply-side reform: a simpler and less distortive tax system; deregulation; better regulation in some areas; simpler and less distortive taxes on energy; better education and transport systems; and more flexible labour markets. All these are necessary to release the energies of the British people and generate sustained improvements and growth in living standards The Chancellor’s decision—although he did not announce it today—to keep the Office of Tax Simplification and put it on a statutory footing is welcome. Fundamental reform of the tax system is long overdue. It is a scandal that Britain has the longest tax code in the world. "Tolley’s Tax Guide", which seems to double in size every decade, now runs to 11,000 pages. With that length has come complexity. That is a massive burden on business. I draw that point to the attention of the hon. Member for Hornsey and Wood Green (Catherine West) who asked whether HMRC was fit for purpose The OTS recently published a list of 1,140 tax reliefs. A number of those could probably go. What is needed—and what has been needed in western economies, particularly ours, for decades—is fewer reliefs and lower taxes. We would be more likely to get the money in, there would be less scope for avoidance and the tax system would be less distortive of economic activity, and as a result the economy would grow more. This has not been done, however, because each relief has no doubt created its own, often vociferous, lobby group This is the first year of a Parliament, and it is in the first year of a Parliament that such special pleading can be faced down with intelligent tax reform. I hope we will see more of that in the next Budget in eight months’ time, building on what has been announced today The Chancellor has the opportunity to do some remarkable things in this parliamentary term if he has some good fortune: to balance the books; to reform and simplify the tax system; to complete fundamental reform of banking and the financial system, which he already has under way; to reduce the size of the state at least to the average of the first three years of Gordon Brown’s tenure as Chancellor; and above all to secure Britain’s long-term competitiveness. If he seizes that opportunity, it will be of enormous value to the country and his will come to be seen as one of the more remarkable tenures of any Chancellor of the Exchequer.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): Growth in this country is currently running at 3%—the highest of any developed economy. That is hardly weak growth. Yes, it took time to recover from the mess the Labour Government left behind, but this economy is now roaring ahead.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Macroeconomics
John Alan Redwood (Conservative, Centre-right): I am perfectly comfortable with that. It is the direct result of easing the squeeze on spending to which various people objected in the past. The figures show the deficit coming down and being eliminated over the course of this Parliament, which is exactly what ought to be done. I wonder whether the hon. Gentleman’s new enthusiasm for that is personal, or whether it is just to tease me, but if it is personal enthusiasm, it is welcome to hear that the Labour party would now like to go faster in deficit reduction in the middle years of this Parliament than will happen under these proposals The economic background to the official forecasts shows that the growth figures are still pretty good and we have had a welcome upward revision to figures for the immediate past. We also see a welcome upward revision to the number of people in employment, which is fundamental to the whole strategy. There has been a modest deterioration in the balance of payments, which shows that there is more work to be done. The productivity work will link into that to make us more competitive. We have to earn our living, so we need more competitive products. All that growth and improved revenue is taking place despite higher interest rates—the forecast assumes a modest increase in interest rates compared with past forecasts On productivity—working smarter and working better —I welcome the scheme that the Chancellor outlined today. It will mean better roads and spending money on railways more wisely to get extra capacity in the parts of the system where we need it and increased efficiency. There will have to be a lot of work on energy, because we will need cheaper and more energy: as the march of the makers begins and the northern powerhouse cranks up, more electricity and more gas will be required. I hope that we will find cheaper ways to produce them than we have under the policies followed in recent years. It is important that we price people back into energy-intensive markets, rather than export all our energy-intensive business to other countries. It is no great win for those who want to cut carbon dioxide emissions if it is poured out of a factory in China rather than one in the United Kingdom. We need to be conscious of the need to be competitive in our energy generation We will need more on broadband, and clearly much more on housing, as many people have mentioned recently. I look forward to an investment-led recovery, with much more private sector investment coming in. We need to pay special attention to cheaper energy and to fix the railways, where we are spending too much and getting too little. It is not just a question of big investment programmes; it is a question of managing them better. Above all, we need to make sure that, as we implement the welfare reforms, everyone is better off and gets the benefits of tax cuts and higher wages.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: International Affairs
John Alan Redwood (Conservative, Centre-right): The Chancellor came to the House this week to make a statement on just that and was very clear. The good news from Britain’s point of view is that Greece is a very small part of the European economy and we are not very linked to it.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Macroeconomics
Henry Bellingham (Conservative, Centre-right): I will not give way, because I am concluding As my right hon. Friend the Member for Chichester pointed out, dark clouds are blowing in over China and Greece. The parallels between China and Wall Street in 1929 are incredibly scary. In Greece, the oxi to austerity has already triggered a bond rout, to which Britain—with only 1%—is not overexposed. On the other hand, our much larger exposure to other economies on the periphery in relation to our banks’ capital buffers is hugely more worrying. Above all, the UK must continue to manage the economy prudently, and this Budget is a vital step in that direction.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Social Welfare
Chris Ian Brian Mynott Philp (Conservative, Centre-right): The hon. Gentleman is extremely kind to give way. [Interruption.] Yes, I wish him extremely well with his Labour leadership bid. I would be happy to support him were I a member of the party. Will he join me in welcoming the fact that the number of children in relative poverty declined by 300,000 over the past five years?
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Macroeconomics
Craig Mackinlay (Conservative, Centre-right): I want to declare an interest. I have one very small buy-to-let mortgage that ought to be brought to the House’s attention I pay tribute to the two Members who have made their maiden speeches, my hon. Friend the Member for Louth and Horncastle (Victoria Atkins) and the hon. Member for Coatbridge, Chryston and Bellshill (Philip Boswell), whose constituency name is very long Many of my comments will be on the tax and tax credits side of the debate, but I want to start with the budget deficit. I am very pleased to see from the Red Book that Government spending is currently 39.6% of GDP, which will fall to 36% by 2020, when we will have a surplus. A surplus is what we need, and we were elected as the responsible party to deliver it. I am proud that we will have a fiscal responsibility charter so that the disaster, frankly, that we inherited in 2010 will not happen again I have always agreed with having a degree of hypothecation in our tax code, so I am very pleased that the road fund licence will be used for road funding, as it was always designed to be used. I certainly hope that it will generate a larger fund. I already have my eye on the dualling of the A256 so that we can have a proper east Kent highway from Ramsgate to Dover. It is to the credit of car manufacturers, which now make such low CO2 vehicles, that we have got to the stage of needing to look again at the road fund licence The freezing of fuel duty is a particularly pleasing facet of the Budget. Many thought that the duty might be subject to an increase. I am glad that it has been frozen once more. It now represents up to £10 per tank-fill compared with what might have been the case had we continued with the fuel tax escalator imposed by the Labour party some years ago. That is particularly relevant for those on low pay. In my constituency, we suffer from lower rates of pay than in the rest of the south-east. It is mostly the low-paid who suffer from higher fuel taxes, as fuel represents a high proportion of their disposable income Another hypothecation of tax is the apprenticeship levy on large employers. There has been a similar form of levy in the construction industry for some years, the construction industry training levy, and I am very happy that it will be extended so that all youngsters can have a proper opportunity to get a real apprenticeship, which will give them a really great future. I am very pleased to see that the number of proper apprenticeships in South Thanet increased from 300 to 720 in the past five years, and I certainly hope that the new fund will enable that number to more than double again.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Labor
Chris Ian Brian Mynott Philp (Conservative, Centre-right): The hon. Gentleman is very kind indeed. I find it slightly difficult to believe that he is complaining about such a massive increase in the minimum wage when it is set at 60% of median earnings, which is the level suggested by the Resolution Foundation.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): I join others in congratulating the Members who have made their maiden speeches today: the hon. Member for Coatbridge, Chryston and Bellshill (Philip Boswell), and my hon. Friend the Member for Louth and Horncastle (Victoria Atkins). I believe that my hon. Friend’s predecessor served in the House for 55 years, and I wish her well in her possible attempt to emulate that phenomenal record of service I also pay tribute to my right hon. Friend the Chancellor of the Exchequer for an excellent Budget statement—all the more so when we cast our minds back and consider the very difficult circumstances that he inherited when he first came to the Dispatch Box in 2010.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): I thought that the former Prime Minister, Gordon Brown, had abolished boom and bust, but he had clearly failed to do so. Moreover, I note that the last Labour Government had been running a deficit since 2002. Had they not been so grossly irresponsible as to run a deficit during the good years, the country would have been better prepared when the bad times came, and we would have been able to weather the storm. The blame is entirely to be laid at the door of the last Labour Government.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Macroeconomics
Peter James Bottomley (Conservative, Centre-right): My hon. Friend may wish to remind the hon. Member for City of Chester (Christian Matheson) that the last Labour Government did pretty well on the economy between 1997 and 1999, because they stuck to the Conservatives’ spending plans. When they stopped doing that, things went wrong.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Macroeconomics
Chris Ian Brian Mynott Philp (Conservative, Centre-right): My hon. Friend is right to draw attention to the success that the Labour Government enjoyed while sticking to the economic plans of my right hon. and learned Friend the Member for Rushcliffe (Mr Clarke) Let us return to the legacy with which the Chancellor came to office. GDP had contracted, employment had fallen, the number of housing starts had fallen dramatically —we have heard a lot about housing today—and the deficit had mushroomed to a gigantic 10% of GDP, partly because we were already running a deficit when the recession hit. All those matters were tremendously difficult to deal with Let us now look at what the Chancellor has achieved. Over the last five years, we have seen an impressive turnaround. Last year, GDP grew at a rate of 3%, the highest rate in any G7 country. Employment grew by a staggering 2 million over the last Parliament, a greater increase than was achieved in all the other European Union countries put together. As I mentioned in the House yesterday, the county of Yorkshire alone created more jobs than France. That is a record, and I note that the Under-Secretary of State for Transport, my hon. Friend the Member for Harrogate and Knaresborough (Andrew Jones), is particularly pleased to hear about it. The deficit came down from 10% to 5% of GDP, and even the cost of living issues experienced in the last Parliament have begun to ease. Wages are now rising at 3% but inflation is zero, so there has been tremendous progress over the last five years, and I am delighted to have heard today that the Chancellor has resolved to finish the job.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Labor
Chris Ian Brian Mynott Philp (Conservative, Centre-right): The benefits of people who are not working are unaffected, and people who are working will have the opportunity, via higher wages, to more than recoup the effects of the tax credit move that the hon. Lady just described. I strongly welcome the fact that the increase in the minimum wage will more than offset the effect of the tax credit reductions.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Macroeconomics
Thomas Georg John Tugendhat (Conservative, Centre-right): Yes, I do, and on the same basis that I believe that insurance is not something that should be cut in good times. The final element of my right hon. Friend the Chancellor’s speech that I welcome is the extension of the scope of the investigation into the Lewes-Uckfield line. I realise that this is a local priority, but, for those of us in west Kent, the ability to develop a rail link to the south coast will make the coastal powerhouse just as important as the northern powerhouse This Budget does many things to help the people of the United Kingdom and those of Tonbridge, Edenbridge and Malling. In my own constituency, 839 people have been lifted out of tax and nearly 50,000 will benefit from the increase in the personal allowance. Along with the fuel price freeze, this is going to be one of the most important and welcome Budgets in west Kent. I welcome the Chancellor’s commitment to fairness and to the principle that he has made very clear today, namely that work will always pay and that the state will stop creaming off the labour of the people only to give them their own money back.
Budget Resolutions and Economic Situation — House of Commons, 2015-07-08
Topic: Social Welfare
Huw William Merriman (Conservative, Centre-right): I warmly support the Budget that the Chancellor delivered today. I hope that the House will permit me to consider how the Budget will impact on my constituents in Bexhill and Battle. Indeed, I contend that my constituency contains many of the attributes and challenges that other hon. Members find in their localities. I will reflect on three key areas that were addressed by the Budget The first area is work and welfare. I am pleased that the number of my constituents claiming jobseeker’s allowance has decreased from 1,400 in 2010 to 613. Those aged 18 to 24 account for just 135 of that number, which is down from 385 in 2010. Those figures demonstrate that some of the 2 million new jobs that have been created in the UK have certainly been delivered in my constituency I was pleased to hear from the Chancellor that the Government will continue to protect those who, through disability, cannot work and will never be able to do so. Those individuals deserve our care and compassion, and I am pleased that the Government continue to focus their energies on that. I am passionate, however, about giving people the opportunity of work and equally passionate about ensuring that there is not a choice between work and welfare. I am therefore pleased that the welfare cap in my constituency will be reduced to £20,000, which will ensure that work always pays.
South-west England (Long-term Economic Plan) — House of Commons, 2015-07-08
Topic: Macroeconomics
Liam Fox (Conservative, Centre-right): Today the Chancellor set out in his Budget a number of measures to help strengthen our national economy and keep the promises we made as a party to the British people in May, but before the general election the Conservatives set out a clear set of aims for the south-west in a speech given by the Chancellor in Plymouth. He outlined six clear strategic objectives They were: first, to increase the long-term growth rate of the south-west to at least the expected average of the UK as a whole—although the south-west constitutes 8.4% of the UK population, it provides only 7.5% of UK economic output; secondly, to sustain job creation in the region and have 150,000 more people employed by the end of the decade; thirdly, to transform connections, both in transport, via a £7.2 billion investment plan, and in the crucial area of digital connectivity; fourthly, to ensure that the large defence assets in our region support the local economy, high-tech manufacturing and high-end skills—we will have been heartened indeed today to hear the Chancellor commit to spending 2% of our GDP on defence; fifthly, to boost science, and support tech clusters and green energy to promote skills development and an innovative rural economy; and, sixthly, to make the most of the region’s outstanding natural beauty and unique cultural heritage as part of a boost to tourism To those aims, we, the south-west Members, would add one of our own: a fair and equitable funding settlement across education, health and local government, redressing the current underfunding in these largely rural areas. Not all those strategic objectives are of equal importance to all our constituencies. For example, the economic situation in Cornwall is quite different from that in North Somerset, which has the lowest unemployment of any constituency in the UK.
South-west England (Long-term Economic Plan) — House of Commons, 2015-07-08
Topic: Macroeconomics
Liam Fox (Conservative, Centre-right): My hon. Friend is right about that point, and I am sure the Minister will want to address it. Transparency and information are key to people being able to take the opportunities that the Government are making available by their economic approach.
South-west England (Long-term Economic Plan) — House of Commons, 2015-07-08
Topic: Macroeconomics
Anne Marie Morris (Conservative, Centre-right): Does my right hon. Friend agree that growth in our Devon and Somerset area in the items he has listed is very important? Does he also recognise that the Government have already done substantially good things and have demonstrated their support in the settlement on the growth deal funding for 2016 to 2021? The Heart of the South West local enterprise partnership got £130 million in growth deal 1, which was in the top 10, and in growth deal 2 we got £65.2 million, which is the highest award of all the LEPs across the country. That is a sign that the Government are serious about supporting the south-west.
South-west England (Long-term Economic Plan) — House of Commons, 2015-07-08
Topic: Government Operations
Liam Fox (Conservative, Centre-right): My hon. Friend makes an important point. One thing we will all have to do, if we are to get the best out of the opportunities being made available by the Government, is to work with these emerging groupings, especially the LEPs. Those of us who have worked with these organisations where they are at their best can see the benefits they can bring. If Members of Parliament, as well as local authorities, can co-ordinate with the LEPS, we will get so much more from them.
South-west England (Long-term Economic Plan) — House of Commons, 2015-07-08
Topic: Labor
Stephen Daniel Double (Conservative, Centre-right): Jobs are always welcome, and it is really good news that the Government are backing job creation across the south-west, but the type of jobs we will create is also very important. That is especially the case in Cornwall, where the average wage is 30% below the national average—indeed, in my constituency, the average wage is only £14,500 a year. It is vital that we create better jobs and invest in the economy to grow the average wages for our residents.
South-west England (Long-term Economic Plan) — House of Commons, 2015-07-08
Topic: Labor
Liam Fox (Conservative, Centre-right): I am sure that is absolutely right. One thing we have to do across the region is ensure that the prosperity in the wealthier parts of the south-west is more evenly spread across the region. I am thinking, for example, about the tech clusters around Bristol. In my constituency, unemployment is now below 0.5%, and we need to ensure that many of the high-tech jobs we have are spread more widely, right across the south-west peninsula, rather than being concentrated around the big cities.
South-west England (Long-term Economic Plan) — House of Commons, 2015-07-08
Topic: Transportation
Liam Fox (Conservative, Centre-right): Indeed, and I would add that we need co-operation among local authorities. Where we can get good, functional local government clusters, things work well. The one thing I would say to the Minister is that we do not want to push our luck where we have local authorities co-operating and working well together; we do not need to see a change in the organisational structure that would only be expensive and bureaucratic. Where it is working already, we should leave well alone—that is a very good Conservative principle One common thread that runs between us is that the economic welfare of the south-west is very closely linked to the transport infrastructure. The new large group of Conservative south-west MPs will be putting that transport infrastructure at the very front of what we intend to do.
South-west England (Long-term Economic Plan) — House of Commons, 2015-07-08
Topic: Transportation
John Philip Glen (Conservative, Centre-right): Does my right hon. Friend acknowledge that one of the key decisions of the previous Government was the vital investment in the upgrading—the dualling—of the A303, particularly the contentious but much-needed investment in the Stonehenge tunnel in my constituency? That development will be pivotal in opening up the road to the south-west, which will be of vital significance to the whole region.