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Finance Bill

The hon. Gentleman has referred to quite a bit of stuff that is not actually in the Bill, so he will have difficulty referring to it in Committee. On his point on clause 12, the measures are not retrospective. If he cares to look at the history of the previous Conservative Government and this Government in dealing with this particular kind of avoidance, he will see that measures targeted at tackling such avoidance did not work. So the Government have made a clear statement that said: ““This is subject to tax, and it will be paid.”” This has nothing to do with retrospection.