UK Parliament / Open data

Finance Bill

Debate on bills and Committee of the Whole House (HC) on Monday, 12 July 2010, in the House of Commons.
Finance Bill. Programme motion on proceedings in Committee of the Whole House. Agreed on question. Committee stage first day. Clause 1 agreed, with amendments discussed and withdrawn, one amendment negatived on division (228 to 318). Clause 2 agreed. Schedule 1 agreed, with amendments discussed and withdrawn.

About these Parliamentary proceedings

Reference

513 c683-763 

Session

2010-12

Department

Treasury

Legislative stage

Committee stage

Procedure

Programme motions

Chamber / Committee

House of Commons chamber

Related items

Finance Bill 2010-12. Explanatory notes also published (Bill 3-EN 2009-10).
Monday, 28 June 2010
Bills
House of Commons
Deposited Paper DEP2010-1582
Monday, 26 July 2010
Deposited papers
House of Commons

Proceeding contributions

Karl McCartney | 513 c689-92 (Link to this contribution) Thank you, Mr Hoyle, in your role as Chairman of Ways and Means and as the House sits in Committee t...
Andrew George | 513 c686 (Link to this contribution) I congratulate the hon. Gentleman both on raising the issue and on the manner in which he is doing s...

Show all contributions (223)
John McDonnell | 513 c686 (Link to this contribution) I fully concur, which is why I think that HMRC must apply a lot more resources to tackling quantific...
John Redwood | 513 c687 (Link to this contribution) If a constituent of the hon. Gentleman's had a deposit in a savings product that was paying interest...
John McDonnell | 513 c686-7 (Link to this contribution) I fully agree. I have not included any reference to VAT, which is one of the largest areas of tax e...
Andrew Love | 513 c684-5 (Link to this contribution) I thank my hon. Friend for being so generous in giving way. Does he agree with the Institute for Fis...
John Redwood | 513 c685 (Link to this contribution) If the gap is so enormous, can the hon. Gentleman explain why 13 years of Labour government did not ...
John McDonnell | 513 c685 (Link to this contribution) Let me say as objectively as I can that I have not yet seen a Budget that simplified the taxation sy...
John Pugh | 513 c686 (Link to this contribution) Should we not recognise that tax avoidance and tax evasion are two very different things, and that a...
John McDonnell | 513 c685 (Link to this contribution) I can only say that that is one of the reasons why I have raised the issue so consistently. I hope t...
John McDonnell | 513 c684 (Link to this contribution) I agree wholeheartedly. I shall say more about that shortly, because it is one of the issues that we...
Andrew Love | 513 c684 (Link to this contribution) Does my hon. Friend agree that avoidance and evasion are the same to the extent that, in the context...
John McDonnell | 513 c684 (Link to this contribution) The difference is clear with regard to legality and illegality. The technical implementation of tax ...
Lord Beamish | 513 c684 (Link to this contribution) Does my hon. Friend agree that many people who will face the harsh effects of the proposed cuts will...
John McDonnell | 513 c684 (Link to this contribution) Complication is certainly an issue. That is partly why I want the Chancellor to report to the House ...
John McDonnell | 513 c683-4 (Link to this contribution) As my hon. Friend says from a sedentary position, the discussions were refreshing, to say the least....
John McDonnell | 513 c683 (Link to this contribution) I beg to move amendment 11, page 1, line 6, at end insert—
Lord Beamish | 513 c711 (Link to this contribution) Does my hon. Friend agree that this cut will be unfair to small businesses in that while the major b...
Chris Leslie | 513 c711-2 (Link to this contribution) Indeed, I think there is a set of unfairness issues that affect not only public services and our con...
Matt Hancock | 513 c712 (Link to this contribution) Does the hon. Gentleman regret his party's position before the last election, which was that we shou...
Chris Leslie | 513 c712 (Link to this contribution) I may be wrong, but it is my recollection that a number of countries simultaneously came out with th...
Lord Beamish | 513 c712 (Link to this contribution) My hon. Friend refers to page 26 of the Red Book, which states at paragraph 1.63 that""the Governmen...
Chris Leslie | 513 c712-3 (Link to this contribution) I could not agree more. It would not be in order to stray too far from the topic of corporation tax,...
Andrew Love | 513 c713 (Link to this contribution) May I correct something my hon. Friend has said? Most of the measures the previous Government introd...
Chris Leslie | 513 c713-4 (Link to this contribution) That is entirely so. Those with significant financial wherewithal—the corporate advisers, the consul...
Chair of Committees of the Whole House | 513 c710 (Link to this contribution) With this it will be convenient to discuss the following: Amendment 34, page 1, line 6, at end add- ...
Chris Leslie | 513 c710-1 (Link to this contribution) My amendment is quite simple. It does not seek to alter the rate of corporation tax suggested in the...
David Gauke | 513 c708-9 (Link to this contribution) I am grateful to my right hon. Friend, who brings me to my next point. The Government see the disti...
John McDonnell | 513 c709 (Link to this contribution) I am grateful for the Minister's assurance that information on the tax gap will continue to be publi...
David Gauke | 513 c706-8 (Link to this contribution) Before responding to amendment 11, I would like thank my hon. Friend the Member for Lincoln (Karl Mc...
John Redwood | 513 c708 (Link to this contribution) My hon. Friend reinforces my point: avoidance covers a variety of different things. In this case, it...
Kwasi Kwarteng | 513 c709 (Link to this contribution) What was said was that simplicity aided the avoidance of loopholes, and that complexity led to more ...
John McDonnell | 513 c710 (Link to this contribution) I was talking about what had been experienced in the past, but we can all sign up to the pious state...
David Gauke | 513 c709 (Link to this contribution) The hon. Gentleman's points have been noted. Today's debate is the second on this matter in which I ...
John McDonnell | 513 c709 (Link to this contribution) I think that the debate has been helpful to Members on both sides of the Committee. An attempt has b...
Stephen Timms | 513 c706 (Link to this contribution) I think it would still be difficult, complex and cumbersome. A judgment will have to be made about w...
Chris Leslie | 513 c710 (Link to this contribution) I beg to move amendment 21, page 1, line 6, at end add—
Stephen Timms | 513 c704-5 (Link to this contribution) No, we were successful in maintaining a competitive business tax system in the UK. It is true, of co...
Matt Hancock | 513 c705 (Link to this contribution) The right hon. Gentleman has just admitted that since 1997, in respect of avoidance or evasion of co...
Stephen Timms | 513 c705 (Link to this contribution) I am sorry if I misled the hon. Gentleman into thinking that the figure was reduced by only £3 billi...
Stewart Hosie | 513 c705 (Link to this contribution) The shadow Minister makes a point about the success of the disclosure scheme. It has been successful...
Stephen Timms | 513 c703-4 (Link to this contribution) HMRC, for which I was responsible, has a very difficult task on its hands. I was persuaded, and rema...
Gavin Williamson | 513 c704 (Link to this contribution) In 1997, we had the 11th lowest rate of corporation tax, whereas in 2010 we have only the 23rd lowes...
Stephen Timms | 513 c704 (Link to this contribution) I believe that it is important, as the previous Government made clear was their continuing intention...
Gavin Williamson | 513 c704 (Link to this contribution) When global companies are looking across the globe to where they should locate their headquarters, i...
Stephen Timms | 513 c705 (Link to this contribution) The hon. Gentleman, who knows a lot about these matters, is right that this is one of the subjects t...
Kwasi Kwarteng | 513 c702-3 (Link to this contribution) Clearly, we have laws, but people are also going to try to pay the minimum amount of tax that they c...
Stephen Timms | 513 c703 (Link to this contribution) I am happy to subscribe to the view that the tax code should be as simple as possible, and I look fo...
John Redwood | 513 c702 (Link to this contribution) The right hon. Gentleman is quite right to say that there can be an arms race, but would he also ack...
Stephen Timms | 513 c702 (Link to this contribution) The right hon. Gentleman is absolutely right about that. I entirely accept that that often happens, ...
Gavin Williamson | 513 c700 (Link to this contribution) The hon. Gentleman makes an interesting point, although more people becoming incorporated as limited...
Stephen Timms | 513 c701-2 (Link to this contribution) I join others in congratulating the hon. Member for Lincoln (Karl McCartney) on his maiden speech. H...
Andrew Love | 513 c700 (Link to this contribution) On small businesses, is there not some concern that unincorporated individuals will now incorporate ...
Andrew George | 513 c703 (Link to this contribution) Of course we all agree that we should seek the holy grail of a more simplified tax system, but what ...
Stephen Timms | 513 c703 (Link to this contribution) My hon. Friend is absolutely right. There are some flagrant examples of that, not least in the banki...
George Mudie | 513 c703 (Link to this contribution) I thank the Minister for giving way. I am sorry, I should have said "the shadow Minister"—old habits...
Chris Leslie | 513 c715-6 (Link to this contribution) I would not want to set the hare running across the City of London that the long arm of the law is n...
Chris Leslie | 513 c716 (Link to this contribution) The hon. Lady makes her case. We can all, in hindsight, say that regulatory improvements should clea...
Andrea Leadsom | 513 c716 (Link to this contribution) The banking sector is far from being given a free ride by this Government. We are absolutely not goi...
Chris Leslie | 513 c716 (Link to this contribution) Quite, and this is important. We could send a signal from this House that we, as politicians and rep...
Lord Beamish | 513 c716 (Link to this contribution) The hon. Member for South Northamptonshire (Andrea Leadsom) has just said that we should not have a ...
Chris Leslie | 513 c717 (Link to this contribution) That is the case, and we have seen the glee with which the banking industry reacted after the Budget...
Clive Efford | 513 c716-7 (Link to this contribution) I am grateful to my hon. Friend, because his probing is uncovering who is winning the arguments on t...
Ian Lucas | 513 c714 (Link to this contribution) Is my hon. Friend as confused as I am by the Government's trumpeted aim of rebalancing the economy, ...
Chris Leslie | 513 c714 (Link to this contribution) That is especially true over the longer term, and, as I was saying, although clause 1 refers only to...
Lord Beamish | 513 c714 (Link to this contribution) Reference has already been made to Barclays, whose full-year profits increased, I understand, by 92%...
Chris Leslie | 513 c715 (Link to this contribution) My hon. Friend is right. Before the general election, there was a lot of tough talk and rhetoric fro...
Lord Beamish | 513 c715 (Link to this contribution) It is not just the general public who feel that way. On 20 April 2010, the now Deputy Prime Minister...
Chris Leslie | 513 c715 (Link to this contribution) I just wanted to place the hon. Lady's comments in their particular context. It is certainly true t...
Chris Leslie | 513 c715 (Link to this contribution) I am grateful to the hon. Lady who, I am sure, would have wanted to declare an interest had she been...
Andrea Leadsom | 513 c714-5 (Link to this contribution) Is the hon. Gentleman confusing a healthy banking sector that can contribute to the regeneration of ...
Chris Leslie | 513 c714 (Link to this contribution) Indeed. This is a very perplexing set of Budget measures and if we have the chance to debate clause ...
Stewart Hosie | 513 c700 (Link to this contribution) The case for a simple tax regime is well made. Had the Government abandoned capital allowances and t...
Gavin Williamson | 513 c700 (Link to this contribution) I am obviously far below the pay grade of my hon. Friends on the Front Bench, but I am sure that the...
Clive Efford | 513 c699 (Link to this contribution) My point is that that was the sum total of the right hon. Gentleman's contribution on that subject. ...
Gavin Williamson | 513 c700 (Link to this contribution) I shall try to be brief, as I was always told that brevity is a virtue. I am sure that many hon. Mem...
Stewart Hosie | 513 c698 (Link to this contribution) May I ask the hon. Gentleman to put a number on that? What is his estimate of the value of lost reve...
Clive Efford | 513 c698 (Link to this contribution) I could not agree more. If I were to start listing some of the harsher items in the Budget, such as ...
Clive Efford | 513 c699 (Link to this contribution) My hon. Friend's intervention needs no comment from me, other than to say that it is an excellent ex...
George Mudie | 513 c699 (Link to this contribution) Does my hon. Friend agree that it would be a shame to let this debate go by without mentioning the a...
Clive Efford | 513 c698-9 (Link to this contribution) The hon. Gentleman makes a point that I could repeat. Cutbacks in Her Majesty's Revenue and Customs ...
John Redwood | 513 c696-7 (Link to this contribution) Fine—that is a very good linguistic point, and if the right hon. Gentleman wishes to define tax avoi...
Clive Efford | 513 c697-8 (Link to this contribution) I pay tribute to the hon. Member for Lincoln (Karl McCartney), who made his maiden speech. Many of u...
Clive Efford | 513 c698 (Link to this contribution) The point, on which I believe we are all in agreement, is that everyone should pay the tax that they...
Andrew Love | 513 c698 (Link to this contribution) Does my hon. Friend believe that there is a tax gap, as I think all Opposition Members do? Whether t...
Mark Tami | 513 c696 (Link to this contribution) The right hon. Gentleman talks about avoidance all the time, but is it not about the Government givi...
John Redwood | 513 c696 (Link to this contribution) The hon. Gentleman has made my point beautifully. I have just said that one man's avoidance is anoth...
Stephen Timms | 513 c696 (Link to this contribution) The right hon. Gentleman is uncharacteristically abusing the English language. To say that something...
John Redwood | 513 c696 (Link to this contribution) The hon. Gentleman shakes his head, but what else is it? Why are people investing more than they oth...
John Redwood | 513 c695-6 (Link to this contribution) As the hon. Gentleman knows, I am all in favour of more oversight by this House, and the more inform...
John Redwood | 513 c695 (Link to this contribution) I do not necessarily disagree about the need for us to consider another report on tax avoidance and ...
John McDonnell | 513 c695 (Link to this contribution) I am grateful for that response. Successive Governments have pragmatically examined the latest tax a...
John Redwood | 513 c695 (Link to this contribution) It would clearly be a false economy to cut back on the number of staff needed to tackle serious case...
John McDonnell | 513 c695 (Link to this contribution) To follow up on the question of my right hon. Friend the Member for East Ham (Stephen Timms), are th...
Andrew Love | 513 c694 (Link to this contribution) Given the thrust of the right hon. Gentleman's remarks, does he agree with my hon. Friend the Member...
John Redwood | 513 c694 (Link to this contribution) I do not want to get drawn into the moral issue of deprecating or not deprecating: what I am interes...
Stephen Timms | 513 c694 (Link to this contribution) My hon. Friend the Member for Eltham (Clive Efford) asked a telling question, and I am not sure what...
John Redwood | 513 c693-4 (Link to this contribution) Has the hon. Gentleman been in the Chamber while I have been talking? The first part of my speech wa...
John Redwood | 513 c692-3 (Link to this contribution) Let me start by saying a few words about my new hon. Friend the Member for Lincoln (Karl McCartney)....
Clive Efford | 513 c693 (Link to this contribution) I am interested in the right hon. Gentleman's train of thought, but will he clarify something? Is he...
John McDonnell | 513 c688 (Link to this contribution) I understand the point that the hon. Gentleman is making. My amendment tackles tax evasion, which is...
Stewart Hosie | 513 c688 (Link to this contribution) The hon. Gentleman is making his case extremely well, but surely he should be pushing at open door, ...
John McDonnell | 513 c688-9 (Link to this contribution) That is why I was hoping my amendment would achieve consensus in this House, although that might be ...
Chair of Committees of the Whole House | 513 c689 (Link to this contribution) I call Karl McCartney. May I just remind Members that this is a maiden speech?
Andrew Love | 513 c687 (Link to this contribution) Does my hon. Friend agree that any such report dealing with HMRC must also deal with the difficultie...
Sajid Javid | 513 c688 (Link to this contribution) May I say that there seems to be a big confusion between tax evasion and tax avoidance? The hon. Gen...
John McDonnell | 513 c687-8 (Link to this contribution) I appreciate the point that my hon. Friend makes. I accept that there have been issues relating to a...
David Gauke | 513 c762 (Link to this contribution) I believe that the overall effects for this period balance out, but I shall write to the right hon. ...
Stephen Timms | 513 c762 (Link to this contribution) The Minister has made the point, however, that most of the gain is in fact income tax, which surely ...
David Gauke | 513 c762 (Link to this contribution) I think we will see more of that behavioural effect as time goes by, but I am not sure that that wil...
Andrew George | 513 c762 (Link to this contribution) May I return the Exchequer Secretary to the subject of the "composition of income" behavioural impac...
David Gauke | 513 c762 (Link to this contribution) The assumption is that there is an ongoing gain—that we will gain more in income tax as a consequenc...
Stephen Timms | 513 c763 (Link to this contribution) I do not propose to press this to a vote. I beg to ask leave to withdraw the amendment. Amendment, ...
David Ward | 513 c762 (Link to this contribution) There is a time lag, which is why the receipts are not shown for this year. There is also a bringing...
David Gauke | 513 c762-3 (Link to this contribution) I will write to my hon. Friend to explain further why there is no yield in the current year, but I a...
David Gauke | 513 c751 (Link to this contribution) Of course, our proposals go beyond that. The explicit aim of this Government is to have the best cor...
Stephen Timms | 513 c751 (Link to this contribution) Will the hon. Gentleman comment on my question about whether it is an explicit aim of the Government...
David Gauke | 513 c753 (Link to this contribution) The amendment would set the capital gains tax rate at 18% for personal representatives of the deceas...
Stephen Timms | 513 c752 (Link to this contribution) I beg to move amendment 30, page 6, leave out lines 13 to 16 and insert—
David Gauke | 513 c749 (Link to this contribution) In the Budget, my right hon. Friend the Chancellor announced a programme of measures aimed at improv...
Chris Leslie | 513 c748-9 (Link to this contribution) I do not agree that the private sector is crowded out in that way. I do not think that there is quit...
David Gauke | 513 c750-1 (Link to this contribution) The usual approach has been that the Finance Bill sets the small companies rate in-year, just as it ...
Stephen Timms | 513 c749-50 (Link to this contribution) The Minister says that it is normal practice to do what the Bill does, but as far as I know, there h...
Andrew Bridgen | 513 c748 (Link to this contribution) Does the hon. Gentleman not appreciate that there is no money for the private sector from the banks ...
Stephen Timms | 513 c761 (Link to this contribution) Why is no yield specified for the current year?
David Gauke | 513 c760-1 (Link to this contribution) Clause 2 and schedule 1 introduce the changes to capital gains tax from 23 June 2010, as we have hea...
Andrew George | 513 c759-60 (Link to this contribution) It is a pleasure to follow the hon. Member for Hayes and Harlington (John McDonnell). I am pleased t...
John McDonnell | 513 c758-9 (Link to this contribution) Following on from my right hon. Friend's exposition, I want to speak briefly to amendment 10, which ...
Stephen Timms | 513 c756-8 (Link to this contribution) I am grateful to the hon. Gentleman for his kind remarks, and to the Minister for his generous remar...
Paul Uppal | 513 c755-6 (Link to this contribution) I pay tribute to the right hon. Gentleman. It is good to see him in Committee. As a new Member, I wa...
Stephen Timms | 513 c754-5 (Link to this contribution) The amendments are probing amendments. We are keen to understand the thinking that led to the figure...
Chair of Committees of the Whole House | 513 c753 (Link to this contribution) With this it will be convenient to discuss the following: amendment 32, page 6, line 20, leave out '...
Stephen Timms | 513 c753 (Link to this contribution) I beg to move amendment 31, page 6, line 16, leave out '28%' and insert '25%'.
Stephen Timms | 513 c753 (Link to this contribution) I am happy not to force a vote, and I beg to ask leave to withdraw the amendment. Amendment, by lea...
Stephen Timms | 513 c741 (Link to this contribution) I am disappointed by that response. I am disappointed that my hon. Friend the Member for Brent North...
Stephen Timms | 513 c742-4 (Link to this contribution) We have had useful and important debates about the amendments to clause 1, but some important points...
Chair of Committees of the Whole House | 513 c735 (Link to this contribution) Order. The background noise is a little high. Will Members please keep it down?
Andrew George | 513 c735 (Link to this contribution) The corollary to the corporation tax cut is the banking levy, but although I respect the information...
Chris Leslie | 513 c735 (Link to this contribution) Having heard what the Minister had to say, I am not convinced that he makes a case for giving away £...
David Gauke | 513 c735 (Link to this contribution) Beginning tomorrow, we will consult on the bank levy. The intention is to find a means of discouragi...
David Gauke | 513 c740-1 (Link to this contribution) As I have already explained, the Chancellor or the Exchequer set out a business tax package in the B...
Stephen Timms | 513 c739-40 (Link to this contribution) I beg to move amendment 49, page 1, line 6, at end add—
David Gauke | 513 c741 (Link to this contribution) As I said a moment ago, the changes to capital allowances will take effect from 2012, and we believe...
Barry Gardiner | 513 c741 (Link to this contribution) Why does the Minister believe that, if the Budget begins to work and we see businesses begin to pull...
Stewart Hosie | 513 c747-8 (Link to this contribution) When the hon. Gentleman and his hon. Friend talk about a private sector investment strike, I wonder ...
Chris Leslie | 513 c746-7 (Link to this contribution) I am very disturbed that the Chancellor's measures are coming at a time when our manufacturing indus...
Barry Gardiner | 513 c746 (Link to this contribution) Is my hon. Friend aware of the predicated growth, contained in the Government's figures, of the priv...
Chris Leslie | 513 c746 (Link to this contribution) I am grateful, Mr Benton, that you have seen fit to allow a stand part debate on this important clau...
Stephen Timms | 513 c744-6 (Link to this contribution) Indeed, and I am certainly not arguing against the long-established mechanism allowing tax losses to...
Chris Leslie | 513 c747 (Link to this contribution) That is a moot point and I would not go to the wall to argue against reducing corporation tax in thi...
Barry Gardiner | 513 c747 (Link to this contribution) My hon. Friend rightly talks about the need for companies to pay dividends and the benefits of that ...
Chris Leslie | 513 c747 (Link to this contribution) Indeed that is the case. I know that my hon. Friend has done a great deal of work on some of the ana...
Jon Trickett | 513 c747 (Link to this contribution) I am listening carefully to my hon. Friend's argument. Has not the largest single factor in this rec...
Stewart Hosie | 513 c744 (Link to this contribution) I am listening carefully to the right hon. Gentleman's comments, and I rise to seek the following cl...
Chris Leslie | 513 c717 (Link to this contribution) The hon. Gentleman makes a fair point. I have tried to define "banking institutions" by referring to...
Matt Hancock | 513 c718 (Link to this contribution) Can the hon. Gentleman supply any evidence that the corporation tax cut is larger than the £2.5 bill...
Chris Leslie | 513 c718 (Link to this contribution) If some analysts, who on the secondary evidence before me are saying publicly that they believe that...
Matt Hancock | 513 c718 (Link to this contribution) Does the hon. Gentleman have any evidence to suggest that the reduction in corporation tax on banks ...
Chris Leslie | 513 c718 (Link to this contribution) Yes I do, and at the outset of my comments, I quoted a series of highly professional and well-respec...
Edward Timpson | 513 c717-8 (Link to this contribution) I have been considering the hon. Gentleman's amendment carefully and listening to what he has had to...
Chris Leslie | 513 c718 (Link to this contribution) I am delighted that that hon. Gentleman is thinking about supporting the amendment. That is incredib...
Ian Lucas | 513 c717 (Link to this contribution) I commend my hon. Friend's response, because he has just said exactly what I was going to say about ...
Chris Leslie | 513 c717 (Link to this contribution) That is absolutely the case, and it perhaps betrays the enlightenment of Government Members on this ...
Lord Beamish | 513 c718 (Link to this contribution) Does my hon. Friend agree that that is completely at odds with the rhetoric we heard from both the L...
Chris Leslie | 513 c718 (Link to this contribution) If they are saying that the corporation tax cashback, as my hon. Friend says, will offset the levy, ...
Andrew George | 513 c720-1 (Link to this contribution) I want to speak in support of amendment 50, which is tabled in my name and those of my colleagues. I...
Chris Leslie | 513 c719 (Link to this contribution) Indeed. I cannot keep track of the turns and U-turns, with so many permutations, that the Government...
Andrea Leadsom | 513 c719 (Link to this contribution) I want to clarify. It is to all our benefit to have a healthy financial services sector. Obviously, ...
Chris Leslie | 513 c719-20 (Link to this contribution) I am interested in the hon. Lady's arguments. She is saying that it would be wrong for the banks to ...
Sajid Javid | 513 c728-9 (Link to this contribution) That is a misleading question, and it does not go to the heart of the matter. It is a nice try, but ...
Stewart Hosie | 513 c729 (Link to this contribution) Technically, those are the three ways in which capital can be raised. Is the hon. Gentleman making a...
Sajid Javid | 513 c728 (Link to this contribution) I am not detached from small business, because my father was a small business man, I grew up in a sm...
Stephen Timms | 513 c728 (Link to this contribution) Was the hon. Gentleman surprised that the Office for Budget Responsibility reduced its estimate of f...
Sajid Javid | 513 c728 (Link to this contribution) That is not relevant. The hon. Gentleman can read the entry in the declaration of interests. If we ...
Lord Beamish | 513 c728 (Link to this contribution) I know that the hon. Gentleman is a banker, and therefore possibly a bit detached from the SME secto...
Stephen Timms | 513 c731 (Link to this contribution) I am not sure about the figure of £700 million. I hope that the hon. Gentleman is not telling us tha...
Matt Hancock | 513 c731 (Link to this contribution) The right hon. Gentleman may have misheard my earlier comment. Can he be surprised about the Chancel...
Stephen Timms | 513 c730 (Link to this contribution) I am grateful to the Exchequer Secretary for his kind remarks on my return to the Dispatch Box. He, ...
Sajid Javid | 513 c729-30 (Link to this contribution) No, not at all. We have to separate the two issues. The levy is about working towards a way of takin...
David Gauke | 513 c732-3 (Link to this contribution) Amendments 21, 34 and 50 relate to the impact of the corporation tax cuts on the banking sector. Ame...
David Gauke | 513 c733 (Link to this contribution) That is not an accusation of ambiguity that I could lay at the hon. Gentleman's door.
Chris Leslie | 513 c733 (Link to this contribution) I thank the Minister at least for that recognition, but I wonder whether he could take some time to ...
Andrew George | 513 c731 (Link to this contribution) The Red Book costings on page 19, in table 3 refer to the yield from the bank levy across fiscal yea...
Stephen Timms | 513 c731-2 (Link to this contribution) I am grateful for that clarification. However, my hon. Friend the Member for Nottingham East describ...
Matt Hancock | 513 c732 (Link to this contribution) I shall keep this contribution extremely brief, given the hour. I was surprised by some of the argum...
Chris Leslie | 513 c734 (Link to this contribution) The Minister is saying that £400 million is a small amount to be given in cashback to the banks in t...
David Gauke | 513 c734 (Link to this contribution) Let me turn to the heart of this matter, because we have had quite a lengthy debate on it. We have h...
David Gauke | 513 c734 (Link to this contribution) Our aim was to rebalance the tax system. We are requiring the banking sector to pay at least £2 bill...
Andrew George | 513 c722-3 (Link to this contribution) The hon. Gentleman's point is, in a way, a development of an argument that was made earlier, when he...
Andrew George | 513 c721 (Link to this contribution) I am a free-ranging Liberal Democrat Back Bencher and I am quite clear that I want to probe this iss...
Geraint Davies | 513 c722 (Link to this contribution) The hon. Gentleman will be aware that there is a banking levy in the United States. Does he agree th...
Lord Beamish | 513 c723-4 (Link to this contribution) It is a pleasure to follow the hon. Member for St Ives (Andrew George), who has become a rather lone...
Andrew George | 513 c723 (Link to this contribution) Opposition spokesmen and the Treasury Ministers will have heard that intervention, which further emb...
Lord Beamish | 513 c723 (Link to this contribution) Although we are rewarding the banking sector, the proposals on annual investment allowances, which a...
Andrew George | 513 c723 (Link to this contribution) I am not sure that I am qualified to advise, but I am sure that the hon. Gentleman is right. If the ...
Lord Beamish | 513 c724-5 (Link to this contribution) That is true. The Government's drive to reduce public spending has very little to do with reducing t...
Chris Leslie | 513 c724 (Link to this contribution) My hon. Friend is making an extremely strong case for the amendments. Is it not the case that the Go...
Matt Hancock | 513 c725 (Link to this contribution) I thank the hon. Gentleman for inviting me to intervene. He has just admitted something that the hon...
Lord Beamish | 513 c725-6 (Link to this contribution) No, I am sorry, we do not admit that. I am not sure what point the hon. Gentleman is trying to make ...
Clive Efford | 513 c726 (Link to this contribution) To correct the hon. Member for West Suffolk (Matthew Hancock), it is just not true to say that the b...
Lord Beamish | 513 c726 (Link to this contribution) I am grateful for my hon. Friend's intervention, which completely blows a hole in the myth that this...
Ian Lucas | 513 c726 (Link to this contribution) Does my hon. Friend agree that what makes it even worse is the fact that the banks are still not len...
Sajid Javid | 513 c727 (Link to this contribution) I shall keep my contribution brief. I congratulate my hon. Friend the Member for Lincoln (Karl McCar...
Lord Beamish | 513 c726-7 (Link to this contribution) That is a good point. We have heard about banking codes and other ways of forcing the banks into len...
Sajid Javid | 513 c728 (Link to this contribution) Yes, I am shareholder in a bank. [Hon. Members: "Which one?"] It is called Deutsche Bank.
Chris Leslie | 513 c728 (Link to this contribution) There is not a Register of Members' Financial Interests currently published, so for the benefit of t...
Lord Beamish | 513 c715 (Link to this contribution) Let me add another example of the feeding frenzy. In December 2008, the current Prime Minister told ...
Chris Heaton-Harris | 513 c717 (Link to this contribution) A few moments ago, you were talking about the banking industry that had received the "largesse" of t...
John Redwood | 513 c699 (Link to this contribution) I wish to correct the record. I made it very clear that if a company were evading tax, we should thr...
Chris Leslie | 513 c748 (Link to this contribution) Indeed. There are liquidity problems across the economy and they remain. There are rumours in the ai...
John McDonnell | 513 c687 (Link to this contribution) That is an interesting point. Tax compliance should be a duty in law, so there should be a requireme...
Baroness Burt of Solihull | 513 c684 (Link to this contribution) I am interested in the discussion of avoidance and evasion, but does the hon. Gentleman not agree th...
Stewart Hosie | 513 c706 (Link to this contribution) I understand the argument and I have heard it before—last year, in fact. I welcome what the shadow M...
Kwasi Kwarteng | 513 c698 (Link to this contribution) Will the hon. Gentleman clarify his basic position? Does he believe that in principle corporations o...
Clive Efford | 513 c721 (Link to this contribution) I apologise to the hon. Gentleman in advance for going back to what was said during the general elec...
Ian Lucas | 513 c723 (Link to this contribution) I commend the hon. Gentleman on tabling the amendment, but will he clarify the reference to""all oth...

Subjects

Companies
Capital gains tax
Corporation tax
Banks
Investment
Financial institutions
Profits
Small businesses
Tax allowances
Tax avoidance
Taxation
VAT
Tax rates and bands
Tax evasion
Tax yields
Revenue and Customs
Bank levy

Legislation

Finance Bill 2010-12 to 2012-13

Link

View this Parliamentary proceeding on www.publications.parliament.uk
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