Speeches by Yang.

“Last month, I held a SEND community consultation in south-east Reading in my constituency, attended by over 60 parents, children and local experts. We all agreed that the current system is broken, and one of the young people, Megan, spoke about the feeling of being let down by the system and constantly fighting a never…”

“Would anyone on the panel like to suggest how the Government could start to evaluate and rationalise tax reliefs?”

“The previous Treasury Committee wrote a report about tax reliefs; there are over 100 non-structural tax reliefs, costing roughly the equivalent of the NHS budget each year. I have a question for anyone on the panel: how have we come up with so many tax reliefs? And is there any evidence out there that they do what they…”

“On that final point made by Professor Advani, in the summer our sister Committee, the Public Accounts Committee, reported that HMRC does not know how many billionaires pay tax currently in the UK. Why is HMRC in that position and how quickly can it be fixed?”

“Do you think such a shift should be implemented via a tax switch? If so—I appreciate that this is a slightly philosophical question—do you think that such a switch would break Labour’s manifesto promises?”

“I am going to move from the countryside to our towns and cities, and I will talk about rental profits. Ms Curtis, the Resolution Foundation has suggested broadly shifting from national insurance to income tax to create a more level playing field between different types of income. What would be the impacts on growth and…”

“Does the panel feel that HMRC is underequipped at present to administrate a modern tax system?”

“There is some nodding in the panel. Is the panel in furious agreement, or does anyone want to add anything?”

“Is your proposal the equalisation of those rates with income tax?”

“What kind of fixing needs to be done?”

“Turning to wealth taxes—a topic that has come up very frequently recently—Professor Advani, you were part of the commission on wealth taxes a few years ago. Could you start off by just describing what wealth taxes are and why the commission came to the conclusion that we should fix our current wealth taxes in the UK?”

“Mr Neidle?”

“I deeply welcome this long-awaited ceasefire and the release of the hostages. I thank the Prime Minister and his Ministers for their tireless work and international leadership on this front, including in the upcoming Gaza recovery summit, which is to be held in the UK later this week. I am glad to hear of the Prime Min…”

“I thank my hon. Friend for securing this debate. Last night I co-hosted an event in Parliament for Wael al-Dahdouh, the former bureau chief of Al Jazeera in Gaza, whose family members have been killed, and five of whose colleagues were killed during a double strike on a hospital only a few weeks ago that also killed fo…”

“My hon. Friend’s stories remind me of stories that I hear in Reading, in my Earley and Woodley constituency. Angie is a nursing associate in the NHS, and her daughter wishes to study paramedic science and also work in the NHS. However, for that to happen, Angie’s daughter needs a route to settlement in order to be elig…”

“What would you choose to describe that?”

“Governor, you slightly pre-empted my question about the ONS, which the Committee has discussed in depth. To what extent does the ONS’s new plan for economic statistics address the concerns that you have raised before with this Committee? What are the biggest remaining gaps?”

“The decision that the MPC is facing later this month is about active versus passive quantitative tightening. The MPR piece that you linked to in that report suggests that the costs of active QT as opposed to passive QT could be upwards of £60 billion. I would not choose the adjective “modest” for that—”

“I think we all understand that it is not in the power of the Bank or of the MPC to travel back in time. That is not the counterfactual that I was trying to consider.”

“Governor, in your recent monetary policy report you have a section describing how Bank staff have updated their analysis of the effects of QT on gilt yields, which, as my colleague Chris Coghlan mentioned, impacts the cost of borrowing for the Government. It concerns me that your Bank estimate now suggests that there w…”