Proceeding contribution from William Cash (Conservative) in the House of Commons on Wednesday, 7 April 2010. It occurred during Debate on bill and Committee of the Whole House (HC) on Finance Bill.
Finance Bill
My hon. Friend asks whether it was worth it, and we shall soon find out. I want to ask the Minister to give me a proper answer to the question that I put. My question was:""To ask Mr. Chancellor of the Exchequer, what changes in levels of (a) taxation"—" in the Finance Bill—""and (b) public expenditure will be required to finance the requirement to repay loans made from the public purse to banks, as referred to in the Financial Services Authority's publication Financial Risk Outlook of 10 March 2010."" It will be noted that I tabled my question soon after the FSA produced its financial risk outlook. I had to wait the best part of a month to get the answer, but the fact is that the FSA report said that it was inevitable that a significant proportion of the money that would be required to finance the repayment of loans was going to have to come from the taxpayer. The figures are horrendous. That is yet another element of the gap that exists between the Government's Finance Bill and the ability to pay for the mistakes and problems that have been accumulating. What answer did I get from the Exchequer Secretary? She might or might not know what the answer is—she might not have even seen it, I do not know—
Secondary information
- Type
- Proceeding contribution
- Reference
- 508 c1086
- Session
- 2009-10
- Chamber / Committee
- House of Commons chamber
- Subjects
- Corporation tax Capital investment Cider Income tax Excise duties Fuels Double taxation Economic situation Pensions National insurance contributions Taxation Tobacco Stamp duties Smuggling First time buyers Stamp duty land tax
- Legislation
- Finance Bill 2009-10
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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