Proceeding contribution from Geoffrey Robinson (Labour) in the House of Commons on Tuesday, 3 May 2011. It occurred during Debate on bill and Committee of the Whole House (HC) on Finance (No. 3) Bill.

Finance (No. 3) Bill

Does my hon. Friend know why the Government set £2.5 billion as the absolute limit for the amount they wanted to raise from banks and made everything fit with that? Does it not all come down to the fact that the Government have struck an awful deal with the banks? They have limited so much and got Merlin in return—and perhaps some other things to which my hon. Friend has referred but which I shall not go into now. They have tied themselves in knots, complications and contortions to deliver this deal and the banks have simply walked away from Merlin saying, ““Thank you, very much.”” Is not that the problem?

Secondary information

Type: Proceeding contribution
Reference: 527 c537-8
Session: 2010-12
Chamber / Committee: House of Commons chamber
Subjects: Banks Financial services Excise duties Fuels EU economic policy Exploration Economic growth Oil Pay Natural gas Public expenditure Prices Offshore industry Regulation Taxation VAT Tax yields North Sea oil Bank levy
Legislation: Finance (No. 3) Bill 2010-12
Link: View this Proceeding contribution on www.publications.parliament.uk

Finance (No. 3) Bill

Secondary information

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