Finance Bill. Lords second reading debate. Agreed to on question. Committee negatived. Standing Order 47 having been dispensed with, Bill read a third time and passed.
Finance Bill
Debate on bills on Monday, 26 July 2010,
in the House of Lords,
led by Lord Sassoon.
The answering
member was Lord Davies of Oldham.
About these Parliamentary proceedings
Reference
720 c1148-61, c1171-223Session
2010-12Chamber / Committee
House of Lords chamberRelated items
Finance Bill 2010-12. Explanatory notes also published (Bill 3-EN 2009-10).
Monday, 28 June 2010
Bills
House of Commons
Monday, 28 June 2010
Bills
House of Commons
Proceeding contributions
Baroness Browning | 720 c1184-5 (Link to this contribution)
My Lords, I begin by thanking your Lordships for the many kindnesses and considerations that have be...
Lord Spicer | 720 c1176-7 (Link to this contribution)
My Lords, 36 years ago almost to the day and the hour, I made my maiden speech in the other place. I...
Show all contributions (56)
Lord McFall of Alcluith | 720 c1195-7 (Link to this contribution)
It is a privilege to be speaking in a Second Reading so soon after being introduced in this House. I...
Lord Higgins | 720 c1192-5 (Link to this contribution)
My Lords, it is difficult to welcome a Finance Bill which increases taxation, and it will most certa...
Lord Lea of Crondall | 720 c1189-92 (Link to this contribution)
My Lords, I add my congratulations and welcome to the noble Lord, Lord Spicer, who is an erstwhile t...
Lord Blackwell | 720 c1185-9 (Link to this contribution)
My Lords, it is a great pleasure and privilege to follow my noble friend Lady Browning, and I congra...
Lord Bates | 720 c1204-7 (Link to this contribution)
My Lords, it is a privilege to contribute to this debate. We have heard two excellent maiden speeche...
Lord Rosser | 720 c1201-4 (Link to this contribution)
My Lords, the financial deficit has to be addressed and it has to be reduced. The question, though, ...
Lord Skidelsky | 720 c1198-201 (Link to this contribution)
My Lords, the Finance Bill implements the taxation provisions of the emergency Budget Statement of 2...
Lord McFall of Alcluith | 720 c1197-8 (Link to this contribution)
Yes—but it depends for how long the candle exists before it is blown out. That is the issue. I fear ...
Lord Phillips of Sudbury | 720 c1197 (Link to this contribution)
My Lords, I am grateful to the noble Lord for giving way but I must reply to his assault upon the so...
Lord Sassoon | 720 c1215 (Link to this contribution)
I thank the noble Lord for that. But I did not say that the Treasury intervened at all in the workin...
Lord Sassoon | 720 c1214-5 (Link to this contribution)
My Lords, as I conclude the debate on this Finance Bill—and I note that it is a debate on the Financ...
Lord Sassoon | 720 c1216 (Link to this contribution)
I look forward to seeing if and when the noble Lord, Lord Myners, returns to the City. There are acc...
Lord Myners | 720 c1216 (Link to this contribution)
Perhaps I may help the Minister. In his evidence to the Treasury Select Committee, Sir Alan Budd sai...
Lord Sassoon | 720 c1216 (Link to this contribution)
I thank the noble Lord, although that was a different point from the one that he made previously; th...
Lord Myners | 720 c1215-6 (Link to this contribution)
I fear that the noble Lord is moving on from the OBR, so may I ask him again for a simple and straig...
Lord McFall of Alcluith | 720 c1216 (Link to this contribution)
They are taking away information in their head. It is intellectual property; it is not taking away d...
Lord Sassoon | 720 c1216 (Link to this contribution)
My Lords, I believe that I have addressed the point. As with any such office, it would be inconceiva...
Lord Bates | 720 c1207 (Link to this contribution)
That is a fair point but, in a sense, it does not really matter what the most distinguished economis...
Lord Skidelsky | 720 c1207 (Link to this contribution)
I would not normally interrupt, but is the noble Lord seriously suggesting that markets are likely t...
Lord Myners | 720 c1207 (Link to this contribution)
I thank the noble Lord for allowing me to intervene. Is he quoting from the same credit rating agenc...
Lord Bates | 720 c1207 (Link to this contribution)
I will just finish this point, if I may. It is analogous to what many companies will find in dealing...
Lord Bates | 720 c1208 (Link to this contribution)
I accept these points. All I am saying is that, by arguing the other way, the noble Lord effectively...
Lord Lea of Crondall | 720 c1208 (Link to this contribution)
I am grateful to the noble Lord for giving way. I do not think he has answered the noble Lord, Lord ...
Lord Davies of Oldham | 720 c1212-4 (Link to this contribution)
My Lords, there is at least one joy in summing up for the Opposition in a debate that has ranged so ...
Baroness Anelay of St Johns | 720 c1221 (Link to this contribution)
My Lords, I appreciate the nature of the intervention by the noble Lord, Lord Myners, and the Minist...
Lord Sassoon | 720 c1221-3 (Link to this contribution)
My Lords, I confirm to the noble Lord, Lord Myners, that the proposals are indeed for an 18 per cent...
Lord Sassoon | 720 c1219-20 (Link to this contribution)
My Lords, given that I have just said that I thought it appropriate for the assessment of the total ...
Lord Sassoon | 720 c1216-9 (Link to this contribution)
The OBR receives unpublished information of different kinds and then publishes its forecasts publicl...
Lord Lea of Crondall | 720 c1219 (Link to this contribution)
The Minister is rather gratuitously missing the point. The Government have never made that clear whe...
Lord Sassoon | 720 c1221 (Link to this contribution)
My Lords, I am not going to answer for judgments that are fundamentally for the Bank of England. It ...
Lord Myners | 720 c1221 (Link to this contribution)
The Minister spoke on the subject of capital gains tax. Can he confirm whether he stands by his stat...
Lord Sassoon | 720 c1220 (Link to this contribution)
My Lords, I fully accept that of course there is huge interdependence between the public and private...
Lord Higgins | 720 c1220-1 (Link to this contribution)
On the point about indexation, to say that it would increase complexity when the Explanatory Notes t...
Lord Lea of Crondall | 720 c1151 (Link to this contribution)
Is the noble Lord suggesting that inequality in Britain will be reduced by this Budget?
Lord Sassoon | 720 c1148-51 (Link to this contribution)
My Lords, I beg to move that the Bill be now read a second time.
This Bill follows the emergency Bu...
Lord Sassoon | 720 c1148 (Link to this contribution)
That the Bill be read a second time.
Lord Bates | 720 c1153 (Link to this contribution)
My Lords, I am grateful to the noble Lord for giving way, but on that point is he familiar with the ...
Lord Tunnicliffe | 720 c1151-3 (Link to this contribution)
My Lords, I thank the Minister for setting out in such detail the Bill and what it will do. I was te...
Lord Sassoon | 720 c1151 (Link to this contribution)
My Lords, as I have already said, the Budget document sets out transparently for the first time tabl...
Lord Razzall | 720 c1154-7 (Link to this contribution)
My Lords, I rise in support of the coalition’s Budget proposals although, as the noble Lord, Lord Tu...
Lord Tunnicliffe | 720 c1153-4 (Link to this contribution)
My Lords, regrettably, I did not watch the ““Andrew Marr Show”” and did not hear Alistair Darling’s ...
Lord Northbrook | 720 c1171-3 (Link to this contribution)
My Lords, I welcome the emergency Budget as a whole. The emergency that we face is that, as the Mini...
Lord Stern of Brentford | 720 c1157-61 (Link to this contribution)
My Lords, many of the challenges we face in the world economy in the coming years are structural and...
Lord Desai | 720 c1173-6 (Link to this contribution)
My Lords, I have been in favour of a serious cut in the budget deficit since before the election. Wh...
Lord Barnett | 720 c1180-3 (Link to this contribution)
My Lords, I add my congratulations to those already given to the noble Lord, Lord Ryder. I think he ...
Lord Ryder of Wensum | 720 c1177-80 (Link to this contribution)
My Lords, it is a great pleasure to follow my noble friend. I congratulate him on his fine maiden sp...
Lord Barnett | 720 c1183-4 (Link to this contribution)
I am sorry to misquote the noble Lord. I thought that that was what he was getting at, but never min...
Lord Higgins | 720 c1183 (Link to this contribution)
I am grateful to the noble Lord. I did not say what he has just reported me as saying; I said that t...
Lord Barnett | 720 c1215 (Link to this contribution)
I pointed out that I was delighted that the Treasury intervenes in the MPC. I asked the Minister to ...
Lord McFall of Alcluith | 720 c1216 (Link to this contribution)
If the OBR members have access to confidential information and take that away with them, will it be ...
Lord Lea of Crondall | 720 c1220 (Link to this contribution)
On the idea that it is a gross caricature to say, ““private sector good, public sector bad””, the Mi...
Lord Bates | 720 c1207 (Link to this contribution)
I am quoting from the same rating agencies that rate government debt and sovereign debt around the w...
Lord Myners | 720 c1208-12 (Link to this contribution)
My Lords, it is a pleasure and an honour to speak in a debate which saw the maiden contributions of ...
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