Proceeding contribution from Baroness Burt of Solihull (Liberal Democrat) in the House of Commons on Monday, 28 June 2010. It occurred during Budget debate on Budget Debate.

Capital Gains Tax (Rates)

My hon. Friend is right and I am grateful for his helpful intervention. We must put all these things into perspective. The existing exemptions will apply to items such as food and children's clothing. My hon. Friend the Member for St Ives (Andrew George) has tabled an amendment about VAT. He is rightly worried about the effect of the VAT rise on particular groups, but I point out that the Red Book states of the chart on page 67 to which he referred:""Chart A3 shows that the top expenditure decile will lose almost 15 times more, in absolute terms, than the bottom expenditure decile from changes in indirect taxes."" The increase is not nice, but we feel that it is appropriate.

Secondary information

Type: Proceeding contribution
Reference: 512 c651
Session: 2010-12
Chamber / Committee: House of Commons chamber
Subjects: Disability Children Child benefit Allowances Housing benefit Employment schemes Economic situation Incapacity benefit Economic growth Medical examinations Poverty Pensions Older people Lone parents Public sector debt Pregnancy Social security benefits VAT Unemployment Uprating Cuts Employment and support allowance Budget June 2010
Link: View this Proceeding contribution on www.publications.parliament.uk

Capital Gains Tax (Rates)

Secondary information

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