Skip to main content

Proceeding contribution from Stephen Timms (Labour) in the House of Commons on Wednesday, 13 May 2009. It occurred during Debate on bill and Committee of the Whole House (HC) on Finance Bill.


Finance Bill

I do not know the precise figures in that case. The hon. Gentleman mentioned the figure that we set out in the Budget documentation on Budget yield over the next few years arising from this measure. We estimate that in the first year there will be an additional tax yield of £40 million, and a rather larger sum in the years after that. Cumulatively, we are therefore talking about significant sums, and this is an important contribution that is needed for the fiscal consolidation that we require. As I have said, we need to make some amendments, including in the light of perfectly fair points made in this debate.


Secondary information

Type
Proceeding contribution
Reference
492 c886 
Session
2008-09
Chamber / Committee
House of Commons chamber
Subjects
Accountability Audit Accountancy Companies Bingo Excise duties Exhaust emissions Large goods vehicles Fuels Gaming Double taxation Motor vehicles Oil Prices Taxation VAT Rural areas
Legislation
Finance Bill 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk