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(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 am afraid that I have been getting my facts right all afternoon: it is Government Members who have been getting their facts wrong. [Interruption.] No, amendment 1 was not wrong; it was absolutely spot on. To say that it was wrong is nonsense. Let us get to the question of how much the Government are raising through the bank levy and how much the previous Government raised through the bank bonus tax. Just as the fallacious claim that the £100 million that will be lost through the change to the 50p rate will be met fivefold by increases in taxes on the wealthiest has been proven today to be completely false, because the £100 million figure was plucked from thin air, so the Government's manipulation of the figures in relation to the bank levy and the bank bonus tax will be shown to be false. The independent OBR, which the Government are so fond of quoting when it suits them, states on page 101 of the blue book that in 2010-11, the bank payroll tax raised £3.5 billion.