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Proceeding contribution from Ed Balls (Labour) in the House of Commons on Tuesday, 1 May 2007. It occurred during Debate on bill and Committee of the Whole House (HC) on Finance Bill.

Finance Bill

As I said, all the people who were taking advantage will have their benefits protected. It is not true to describe those people as either the very rich or tax avoiders. We are talking about people who previously took out mortgage-related term assurance or life assurance products and then benefited from the tax relief that came from the re-badging of those life assurance policies. It was never our intention—nor, in my view, the intention of the House—to tax advantage those life assurance policies. That is why we are returning to the status quo.

Secondary information

Type
Proceeding contribution
Reference
459 c1409 
Session
2006-07
Chamber / Committee
House of Commons chamber
Subjects
Codes of practice Crime Arrests Aviation Combined heat and power Climate change Bereavement benefits Fraud Income tax Electricity generation Police Pollution Powers Workplace pensions Pensions Life insurance Passengers Pension funds Tax allowances Taxation Revenue and Customs Renewables obligation
Legislation
Finance Bill 2006-07
Link
View this Proceeding contribution on www.publications.parliament.uk