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Finance Bill

New clauses 3 and 6 specifically address and seek to improve the competitiveness and attractiveness of the UK taxation system. I hope that there is consensus in the House that it is important that the UK has a competitive taxation system. I hope that that is not in any way controversial, although it is perhaps worth reminding the House of the words of the right hon. Member for North Tyneside (Mr. Byers) on 27 April:""The United Kingdom needs a tax regime that is not only fair, but internationally competitive and attractive."" He made that point in the context of a debate on the Budget and, in particular, the proposal about the 50p higher rate income tax. He said that""the measures in the Budget will make the United Kingdom less attractive."" I am arguing for a competitive taxation system in the United Kingdom, and some would criticise that approach by attempting to suggest that it is somehow unfair or inherently against the arguments for social justice. Again, it is worth quoting the remarks of the right hon. Member for North Tyneside, who stated that""wealth creation and social justice are two sides of the same coin. We need wealth to be created if we are to provide the money to finance our social programmes." —[Official Report, 27 April 2009; Vol. 491, c. 616.]" It is in that context that we have tabled new clause 3 and new clause 6. It is important that the UK has a competitive tax system but the concerns about it are becoming stronger.