Parliamentary Search

Proceeding contribution from Owen Smith (Labour) 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)

I will explain to the hon. Gentleman why there is a step from year 1, when we anticipated it would raise £1.3 billion but when it actually raised £1.1 billion, to the subsequent figure of £3 billion. The explanation, of course, is that it gets far harder to bring money into earlier years. It gets far harder to forestall the income. That is what happened in the first year, but it would have been increasingly difficult to do so afterwards.

Secondary information

Type
Proceeding contribution
Reference
543 c368 
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