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Proceeding contribution from Margot James (Conservative) in the House of Commons on Thursday, 19 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 new Clauses and new Schedules relating to value added tax).

(Clauses 1, 4, 8, 189 and 209, Schedules 1, 23 and 33, and new Clauses and new Schedules relating to value added tax)

I thank my hon. Friend for his intervention, which prompts me to remind the House that the top 1% of wealthy people in this country account for 30% of tax revenues. As my hon. Friend has pointed out, they constitute a very small segment of the population, and I think that if they are required to contribute any more than a third of the total, many will choose to go overseas where they will be taxed less.

Secondary information

Type
Proceeding contribution
Reference
543 c564 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
Children Families Income tax Personal income Pensioners Tax allowances Taxation Tax rates and bands Age allowances High income child benefit tax charge
Legislation
Finance Bill 2010-12 to 2012-13
Link
View this Proceeding contribution on www.publications.parliament.uk