Topical Questions — House of Commons, 2022-06-28
Topic: Macroeconomics
Questions: The Chancellor is familiar with the opportunities in northern Lincolnshire and the wider Humber region to advance economic growth; what plans does he have to develop the infrastructure and support local authorities to achieve that?; Recently, it was revealed that Her Majesty’s Revenue and Customs is failing to use the third-party data information that we get through international agreements to investigate how much tax is being evaded through offshore assets. Given that £850 billion is held offshore, with two thirds of it stashed in known tax havens, either Ministers are content for the super-rich to evade paying their fair share in the knowledge that their offshore wealth is not being systematically checked, or they will direct HMRC to use this reporting data, as is done in the US and Denmark, to uncover tax evaders. Which is it?;   The global cost of living crisis is affecting many of our constituents, so it is welcome that those on means-tested benefits—one in three households—will receive £1,200 in support from the Government this year. When will that vital support be hitting bank accounts?; In his answer to my hon. Friend the Member for Glasgow Central (Alison Thewliss), the Chancellor seemed actually to be boasting that unlike the Scottish Government he is not willing to invest in tackling child poverty or in supporting carers. May I therefore suggest that instead of boasting about his poverty-inducing social insecurity system he tries looking at and replicating the Scottish child payment and the carer’s allowance supplement?; The east of England is the only region in the country without a dedicated children’s hospital which is why I am delighted that the Government have committed £100 million to building Cambridge children’s hospital. It has recently got planning permission and its exciting designs were shown last week to the Duke and Duchess of Cambridge, William and Kate. Will my right hon. Friend the Chancellor or the Chief Secretary to the Treasury commit to working with me to make sure the hospital is built on schedule?;   The recent announcement by the Chancellor on support with energy bills was welcome as far as it goes; however, I remain deeply concerned about my constituents in North Ayrshire and Arran who live in park homes, many of whom are elderly and vulnerable, who have no clarity as to whether they will receive the same support for energy bills as every other household in the UK. Will the Chancellor put an end to this uncertainty and confirm today that he will make a firm commitment to ensure that park home residents do not miss out on this vital support?;   Yesterday morning, I had the pleasure of hosting a roundtable discussion with farmers from my constituency in collaboration with the National Farmers Union. My constituent Andy Cornthwaite informed me that he was struggling to employ extra staff to grow his business due to the current £85,000 VAT threshold. I am aware that my right hon. and learned Friend recently responded to a written question from my hon. Friend the Member for North West Durham (Mr Holden) on the subject, but will she consider an early review of the VAT threshold due to the increase in labour and/or materials costs for small and medium-sized enterprises?; My constituents want to see a low-tax, high-growth economy where work and productivity are prioritised and incentivised. Will my right hon. and learned Friend assure me that the next move in taxes will be downwards and that that will happen at the first available opportunity?
Rishi Sunak (Conservative, Centre-right): I thank my right hon. Friend, the Chair of the Select Committee, for his constructive and thoughtful dialogue with me on these issues. He makes an excellent point, and I direct him to the tax plan that we published at the spring statement to indicate the direction of travel on tax. There will be tax cuts in, I think, a day’s time to help people with the cost of living, tax cuts in the autumn to drive growth in business investment and innovation, and further cuts to personal taxation thereafter, once the situation stabilises.