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Proceeding contribution from Lord Jackson of Peterborough (Conservative) in the House of Commons on Wednesday, 6 May 2009. It occurred during Debate on bill on Finance Bill.

Finance Bill

I thank the hon. Gentleman for giving way. He has been very generous, and I know that, as a member of the Treasury Committee, he takes a great interest in these affairs. Surely, however, he will concede the argument of the right hon. Member for North Tyneside (Mr. Byers)—that the tax rise is essentially a political strategy, that it will not deliver fiscal rewards and that, if someone earns about £112,000 a year, they will effectively pay a marginal tax rate of 61.5 per cent., making it the third highest rate in Europe. In a recession, when we seek to bring in wealth creators, that cannot be good for the UK's economy.

Secondary information

Type
Proceeding contribution
Reference
492 c254 
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