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Finance Bill

My apologies, Sir Michael, for making an incorrect intervention earlier. I am beginning to find my feet, and when I hear the words ““currency”” and ““euros””, my blood boils and off I go. I speak as a former business man. There are many businesses of all different sizes throughout the country, and a significant minority will be affected. What one craves in business is a sense of certainty. There are enough uncertainties in day-to-day trading and business decisions to keep one occupied and cause concern for the future, without the added uncertainty of currency fluctuations, which will also be used in a retrospective fashion in defining a company’s size. I ask the Financial Secretary to take a look at the definitions and to anchor the definition of a company’s size in sterling, which British companies can be certain of month to month and quarter to quarter, rather than make it subject to financial fluctuations. Indeed, given the current uncertainty surrounding the euro, I wonder whether such uncertainties and fluctuations will grow in months and years to come. If one’s company’s size is defined by the current accounting period, one is left in uncertainty, because one never knows how the current trading period will be considered in the future. We are against retrospective legislation, which creates stress and uncertainties in the business environment and for individuals. If the Financial Secretary were to examine historical accounting periods, I am sure that the business community, and especially those involved in the relevant section of the industry, would be pleased.