Proceeding contribution from Charlie Elphicke (Conservative) in the House of Commons on Wednesday, 18 April 2012. It occurred during Debate on bill and Committee of the Whole House (HC) on Finance (No. 4) Bill (Clauses 1, 4, 8, 189 and 209, Schedules 1, 23 and 33, and certain new Clauses and new Schedules relating to value added tax).
(Clauses 1, 4, 8, 189 and 209, Schedules 1, 23 and 33, and certain new Clauses and new Schedules relating to value added tax)
My hon. Friend is making an incredibly forceful and passionate argument. The hon. Member for Pontypridd (Owen Smith) said that according to the HMRC report, the 50% rate had raised £1.1 billion. He is playing fast and loose with the figures, because in the 2010 Budget, Labour said it would raise about £2.6 billion extra. It is an ever-disappearing amount of receipts. Is it not the case that when the rate is cut, it normally ends up increasing the take?
Secondary information
- Type
- Proceeding contribution
- Reference
- 543 c362
- Session
- 2010-12
- Chamber / Committee
- House of Commons chamber
- Subjects
- Devolved matters Aviation Corporation tax Banks Caravans Air passenger duty Income tax Food Economic situation Personal income Northern Ireland Passengers Scotland Wales Tax avoidance Taxation Repairs and maintenance Tax rates and bands Religious buildings Take-away food Wealth Regional airports Bank levy
- Legislation
- Finance Bill 2010-12 to 2012-13
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-15 16:59:13 +0000
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