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Comprehensive Spending Review 2020

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Today, the Chancellor of the Exchequer announced his Comprehensive Spending Review. The review set out the Government departments’ resource budgets for the years 2021/22 to 2023/24. Here are some of the Chancellor’s main points: New funding that takes the budget for coronavirus vaccines over £6 billion, part of over £18 billion to fund preventative coronavirus measures An additional £254 million investment to help reduce rough sleeping and homelessness The new £2.9 billion restart scheme to help more than one million […]

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Written Parliamentary Questions to the Treasury on the Loan Charge

Shortly before Christmas I wrote to the Treasury to raise a number of issues relating to the Loan Charge. I know this issue effects many of my constituents and over the last two years a number have contacted me about it, for which I am grateful. At the end of 2018 I led a Westminster Hall debate about the Loan Charge, where I object to retrospective legislation that undermines the rule of law. You can read more about the debate here. […]

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Securing trade deals which reduce anti-competitive market distortions.

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During Treasury Questions on Tuesday 25th October, I tortured the rules of the House to remain in order as I asked the Chief Secretary to the Treasury the following question: Steve Baker: Will the Right Honourable Gentleman agree with me that reducing the anti-competitive market distortions is both a fiscal way to promote manufacturing and insure our country is best placed for new trade deals The David Gauke replied I do agree that removing distortions in the economy results in a more efficient […]

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A Parliamentary Question on Brexit

This week, I had the opportunity to ask the Financial Secretary to the Treasury a parliamentary question regarding the Government’s controversial economic analysis of Britain’s potential exit from the European Union: Steve Baker: Will the Government welcome this opportunity to bring forward actual data without the need to project forward fourteen years using techniques which are proven inaccurate every six months? The Financial Secretary to the Treasury (David Gauke): Once the HMRC have gone through that data, they will provide that […]

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Contributions in the Commons since Christmas

Via Hansard by MP, my contributions since Christmas in the Commons chamber over a range of subjects: 13 January 2015 Charter for Budget Responsibility Grammar School Funding [Westminster Hall] Topical Questions (Health – urgent care) 12 January 2015 Topical Questions (Defence – nuclear deterrent) 5 January 2015 Regionalising Police Forces Contributions in the Treasury Select Committee are available separately. On health, a helpful direction of travel is emerging which I indicated in my topical question: Steve Baker (Wycombe) (Con): As it […]

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HS2 update: Treasury Committee calls for review of the economic case

The Treasury Select Committee has stated that the economic case for HS2 must be reassessed and updated before the Treasury signs off on the project. In its Latest Spending Round 2013 review the Committee said that, given the recent report by KPMG and published by HS2 Ltd setting out the regional economic impacts, the Treasury must produce its own economic case for HS2. The Committee wrote: The Treasury should not allow HS2 to proceed until it is sure the cost-benefit analysis for […]

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Seeking election to the Treasury Select Committee

This week, following the promotion of Michael Fallon MP to BIS, I’m bidding for election by Conservative colleagues to the Treasury Select Committee. I’d like to scrutinise and help the Treasury as it charts a course to reduce the deficit and mend the public finances. I’d also like to continue to challenge the leaders of some of our other key economic institutions, like the Bank of England. As readers of this site will know, I offer strong market principles, familiarity with economic […]

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The Budget 2012 – charting our dependence on fiscal and monetary expansion

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Today, the Chancellor unveiled a Budget widely trailed in the press. We’ll all be pouring over the documents in the next few days and I plan to speak on Monday. In the meantime, I thought this chart from the Budget Red Book was particularly revealing about our country’s position: It shows just how dependent our country became on fiscal stimulus plus bank balance sheet — i.e. monetary — expansion. All those who recommend fiscal and monetary measures to get the […]

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