Speeches by Yang.

“I just want, Mr Benjamin, to go back to this scenario that John Glen illustrates, about how regulatory focus on the tail can sometimes change the behaviour of groups in the main. For the new non-bank lending facility, what would you say to the concern that hedge funds—which, as the Governor said, have taken large posit…”

“This is a question mostly for the Governor, but possibly for Mr Benjamin as well. The Governor just mentioned this phase two getting to equilibrium, possibly in the next few years, or maybe you want to specify the timeline, Governor. At that point, the banks that are currently getting a much better deal right now, beca…”

“Are there any instances in modern history where you think this would have been used?”

“How would you decide?”

“I was wondering if you could play out as well—because obviously this is for severe dysfunction and not something that you will use day to day—what it would look like in terms of timeline and who makes the decisions about intervention if it were used.”

“Slightly jumping back to the discussion that Mr Benjamin had on stress tests and on gilt market volatility, I just saw that yesterday you had opened your new lending facility for non-bank financial institutions, insurance companies, pension funds and the like in times of severe gilt market dysfunction. I was wondering …”

“I am glad that we have returned to this topic, because I was about to ask the hon. Gentleman whether he might clarify the relationship between his remarks and the commercial letting of furnished holiday accommodation—[Interruption.] But of course I support the equalisation of tax measures provided for by the clause.”

“Will the hon. Gentleman give way?”

“Might it not be more appropriate to view the measure in the context of the housing crisis that our country is currently in, and the record proportion of under-35s living at home with their parents rather than being able to live in their own accommodation? Does the hon. Member agree that there should be no tax incentive…”

“I was simply hoping to get us back on to the topic of the commercial letting of furnished holiday accommodation.”

“The hon. Gentleman raises the question of estimates around the level of revenue that would be generated by this important measure. Is he familiar with the work of Andy Summers and Arun Advani at LSE and the University of Warwick? Three years ago, in 2022, they modelled the effect of the 2017 tax reforms on non-doms and…”

“The ceasefire deal gives families in Israel and Palestine, as well as their relatives in my constituency, hope for longer-lasting peace and security. However, there can be no security without accountability, and there is no accountability without scrutiny—scrutiny, for example, to ensure that the funding the Government…”

“I have some final questions around data gathering of HMRC, more from a research and cost projection point of view rather than from an individual privacy point of view. I was wondering, on the point of promptness of data collection, whether there were any more plans in this regard to empower HMRC to get the data it need…”

“Thank you, James Murray, for coming in. The amount that can be raised through additional debt and compliance staff seemed very impressive. Do you feel that HMRC has been under‑resourced in terms of the amount of staff collecting tax to close the tax gap in the past? How far do you think we are from the optimal size of …”

“I want to briefly move on to residential property. Sometimes when I am knocking on doors around my constituency of Earley and Woodley, a resident will come out of their house and point to their house, then point to their neighbour’s house and ask me, “Why is my property in a certain council tax band but my neighbours’ …”

“Leaving aside the political difficulties of reform in this area, I was wondering if there are major administrative or bureaucratic issues with reform in this area and if you could outline any of those, perhaps you or Mr York-Smith.”

“As part of that review, Sir Jim mentioned that it resulted in what he called a modest increase in HMRC’s data‑gathering abilities. I was wondering if you could describe a bit what that means and if that requires investment to really shore up the ability of HMRC to gather and to analyse its data.”

“Sure. As a separate point of principle on this issue, as we know, from the Tax Management Act 1970, the ability of HMRC to collect data is ringfenced based on what the current tax regime is. Previous Ministers have spoken publicly about the fact that it was not possible to cost the non‑doms reform in light of that, bec…”

“I thank the Chancellor for raising the case of Jimmy Lai. I hope that the Government will in future press the case of pensions owed to British national overseas constituents in Earley and Woodley, and across the UK, who have moved here from Hong Kong. I was surprised to hear the shadow Chancellor advocate knee-jerk res…”

“22. What steps her Department is taking to help tackle knife crime.”