Proceeding contribution from Michael Meacher (Labour) in the House of Commons on Tuesday, 7 July 2009. It occurred during Debate on bill on Finance Bill.
Finance Bill
I want to make one very brief central point, and it relates to what the hon. Member for Dundee, East (Stewart Hosie) has just been saying. My right hon. Friend the Financial Secretary has explained that new clause 8 is necessary to block yet another loophole that would open up yet another lucrative tax avoidance mechanism, and I am absolutely sure that he is right. What is significant is that the Government have found it necessary to table the new clause now, and that is because the latest tax avoidance scam surfaced only after the Finance Bill was published. Similar scams are being invented all the time, by extremely highly paid City accountants and lawyers. As a result, the Treasury has to scurry around trying to block them up as quickly as they are created.
Secondary information
- Type
- Proceeding contribution
- Reference
- 495 c848
- Session
- 2008-09
- Chamber / Committee
- House of Commons chamber
- Subjects
- Companies Corporation tax Beer Competition Income tax Excise duties Low incomes Public houses Tax allowances Tax avoidance Taxation Tourism Rented housing Tax rates and bands Revenue and Customs Trade competitiveness Office of Tax Simplification
- Legislation
- Finance Bill 2008-09
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2024-04-21 12:41:37 +0100
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