My hon. Friend refers to page 26 of the Red Book, which states at paragraph 1.63 that""the Government will introduce a levy based on banks' balance sheets from 1 January 2011, intended to encourage banks to move to less risky funding profiles.""
The paragraph concludes by saying:""The levy will result in a rebalancing of the burden of taxation between banking and other sectors.""
Does my hon. Friend agree that that actually supports his amendment, in the sense that we should not take decisions on the banks' corporation tax rates before this levy is introduced?
Finance Bill
Proceeding contribution from
Lord Beamish
(Labour)
in the House of Commons on Monday, 12 July 2010.
It occurred during Debate on bills
and
Committee of the Whole House (HC) on Finance Bill.
About this proceeding contribution
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513 c712 Session
2010-12Chamber / Committee
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