Proceeding contribution from Charlie Elphicke (Conservative) in the House of Commons on Monday, 8 November 2010. It occurred during Debate on bill on Finance (No.2) Bill.
Finance (No.2) Bill
I would like to put a couple of points to the hon. Gentleman. First, taking the case of Lloyds and RBS, are there not likely to be substantial carry-forward losses in those banks, which will not be paying corporation tax for many years to come, let alone by 2012? Secondly, were they then to face a higher rate of tax, which I believe he is proposing, would the cost on those banks not result in the devaluation of their shares, which are now owned by the public? Surely, it would go round in a circle.
Secondary information
- Type
- Proceeding contribution
- Reference
- 518 c76
- Session
- 2010-12
- Chamber / Committee
- House of Commons chamber
- Subjects
- Children Disclosure of information Child benefit Corporation tax Banks Crew Employment Families Fisheries Incentives Income tax Film Financial services Financial institutions Independent taxation Economic situation Personal income Pay Mental capacity Profits Norway Small businesses Tax allowances Taxation Shipping Terminology Video games Tax rates and bands Self-employed Iceland Bank levy
- Legislation
- Finance (No. 2) Bill 2010-12
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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