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Proceeding contribution from Viscount Thurso (Liberal Democrat) in the House of Commons on Wednesday, 12 March 2008. It occurred during Budget debate on AMENDMENT OF THE LAW.


AMENDMENT OF THE LAW

As I am trying my level best to give up the weed, I do not have a fag packet on me, so I have been unable to do any calculations, but the hon. Lady makes a valid point, which needs to be taken into account. I make one piece of special pleading on behalf of the industry. It has been remarkably successful at exporting overseas—indeed, more than 75 per cent. of Scotch is sold overseas. Small distilleries are being brought back into production or newly created. I happen to know about one in Huntly. It would be a shame if that production was put in jeopardy by tax rises that had knock-on consequences in other jurisdictions. The Budget can be characterised as small areas of pain with large doses of Mogadon. We will have to wait and see whether it will do the job that we, as a nation, need to preserve financial stability, but I sincerely hope that it does.


Secondary information

Type
Proceeding contribution
Reference
473 c366 
Session
2007-08
Chamber / Committee
House of Commons chamber
Subjects
Budgets Borrowing Economic situation Public sector Taxation Tax yields Budget March 2008
Link
View this Proceeding contribution on www.publications.parliament.uk