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Proceeding contribution from Yvette Cooper (Labour) in the House of Commons on Wednesday, 6 May 2009. It occurred during Debate on bill on Finance Bill.

Finance Bill

Her Majesty's Revenue and Customs has said that it will continue to discuss with businesses how to ensure that the change happens smoothly. It is right to ensure that this VAT reduction is only temporary, as it is part of our fiscal stimulus. The hon. Gentleman is wrong to oppose the temporary reduction in the VAT rate, which applies across the country, because the cut is equivalent to putting £12 billion into the pockets of consumers and businesses that would otherwise have been taken in tax. It is about putting money into people's pockets and into the economy when it is most needed.

Secondary information

Type
Proceeding contribution
Reference
492 c179 
Session
2008-09
Chamber / Committee
House of Commons chamber
Subjects
Children Alcoholic drinks Business Corporation tax Credit Bingo Borrowing Finance Income tax Excise duties Fuels Gaming Government assistance Economic growth Forecasts Personal savings Poverty Pensions Public expenditure Scotland Tax allowances Tax avoidance Taxation VAT Trusts Tax rates and bands Tax evasion North Sea oil Trade competitiveness Marginal tax rates
Legislation
Finance Bill 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk