Skip to main content

Proceeding contribution from Lord Field of Birkenhead (Labour) in the House of Commons on Monday, 25 June 2007. It occurred during Debate on bill on Finance Bill.


Finance Bill

That contribution was valuable not only because of the point that was made, but because it gave me a chance to read the parliamentary answer, so I shall read the heart of the mystery into the record before I sit down. The next part of the new clause is supported on other Benches. Some people try to get ex-leaders of the Liberal party to join their cause; my attempts were more modest, but I hope more effective in engaging the two Liberal Democrats on the Front Bench, the hon. Members for Falmouth and Camborne (Julia Goldsworthy) and for Twickenham (Dr. Cable). We should have a guarantee that, before the proposed measures came into effect with the next Finance Bill, some transitional form of relief would be announced for people who were going to lose money. After a first reading of the parliamentary answer—I am well aware of what the question was—we know that 31 million taxpayers have benefited from the 10p standard rate of tax, and that some 28 million of them stand to gain as a result of the 20p rate. That means that 3 million people will lose out—31 million minus 28 million—but the written answer may contain further details.


Secondary information

Type
Proceeding contribution
Reference
462 c109 
Session
2006-07
Chamber / Committee
House of Commons chamber
Subjects
Companies Costs Air passenger duty Committees Fraud Income tax Excise duties EU internal trade Legislation Internet Personal savings Low incomes Petrol Registration Small businesses Tax allowances Repayments Tax avoidance Taxation VAT Tax rates and bands Rural areas Second homes Tax evasion Revenue and Customs Equity Retrospective legislation
Legislation
Finance Bill 2006-07
Link
View this Proceeding contribution on www.publications.parliament.uk