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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 grateful to you, Sir Roger, although I found that debate terribly entertaining. [Interruption.] Oh no, I am more than happy to talk about tax avoidance all evening, especially about the Swiss deal, which is particularly disgraceful. No doubt we will do that upstairs in Committee. I return to the question of the bank levy and the bank bonuses tax and which was the most effective measure. It is clear that, as the OBR said, the bank bonus tax raised £3.5 billion in 2010, which is almost twice what the levy raised in 2011. Those are not disputable facts; they are there in black and white in the Red Book and the OBR's analysis. Choosing not to reinstate our bank bonus tax represents an effective tax cut for the banks.