I beg to move, That the clause be read a Second time.

I beg to move, That the clause be read a Second time.

I thank all Members who have taken part in the debates on the Finance Bill so far. Today we are focusing on a number of potential amendments to the Bill. Many of the amendments seek to ensure the proper functioning of the legislation in response to stakeholder scrutiny and feedback....

I thank all Members who have taken part in the debates on the Finance Bill so far. Today we are focusing on a number of potential amendments to the Bill. Many of the amendments seek to ensure the proper functioning of the legislation in response to stakeholder scrutiny and feedback....

I do not think that anyone would argue with the intention behind the new schedule, but it is not so much a new schedule as a Bill within a Bill. It is 25 pages long, and it introduces a tax

that has not existed before. It was tabled less than...

I do not think that anyone would argue with the intention behind the new schedule, but it is not so much a new schedule as a Bill within a Bill. It is 25 pages long, and it introduces a tax

that has not existed before. It was tabled less than...

I understand the hon. Gentleman’s concern. The Bill has been tabled at this time because Ofgem has identified a risk related to energy suppliers in the circumstances that I have described. If that eventuality came to pass, there would be a significant loss to taxpayers if we did not introduce...

I understand the hon. Gentleman’s concern. The Bill has been tabled at this time because Ofgem has identified a risk related to energy suppliers in the circumstances that I have described. If that eventuality came to pass, there would be a significant loss to taxpayers if we did not introduce...

Am I right in assuming that the purpose of the new tax is to discourage certain types of behaviour rather than to raise revenue?

Am I right in assuming that the purpose of the new tax is to discourage certain types of behaviour rather than to raise revenue?

My right hon. Friend is right. We are not seeking to raise revenue; we are seeking to prevent certain circumstances from coming about, and we hope that this deterrent will be sufficient. Of course, if it were not, we would be able to recoup the money by way of tax....

My right hon. Friend is right. We are not seeking to raise revenue; we are seeking to prevent certain circumstances from coming about, and we hope that this deterrent will be sufficient. Of course, if it were not, we would be able to recoup the money by way of tax....

Any member of the public hearing that the Government were today voting their Finance Bill through the House of Commons might expect such a Bill to do something to help with the cost of living crisis facing families up and down this country. Our new clause 6 makes this simple...

Any member of the public hearing that the Government were today voting their Finance Bill through the House of Commons might expect such a Bill to do something to help with the cost of living crisis facing families up and down this country. Our new clause 6 makes this simple...

Including corporation tax and the surcharge, the taxation of banks is currently at 27%. After this legislation, it will be 28%. Does the hon. Member agree that 28% is higher than 27%, and therefore taxes on banks are actually going to rise, not go down?

Including corporation tax and the surcharge, the taxation of banks is currently at 27%. After this legislation, it will be 28%. Does the hon. Member agree that 28% is higher than 27%, and therefore taxes on banks are actually going to rise, not go down?

It is the same tired doublespeak by Government Members trying to hide this tax cut for banks. However they try to present it, in this Bill the

banking surcharge is cut from 8% to 3%; it is there in the policy costings from the Treasury that the measure will cost...

It is the same tired doublespeak by Government Members trying to hide this tax cut for banks. However they try to present it, in this Bill the

banking surcharge is cut from 8% to 3%; it is there in the policy costings from the Treasury that the measure will cost...

Will the hon. Member give way?

Will the hon. Member give way?

No, I am going to make some progress.

The truth is that this tax cut is going ahead at a time when bankers’ earnings are on the rise, with investment banks’ profits soaring off the back of a wave of takeovers and mergers caused by the pandemic. The UK arm of...

No, I am going to make some progress.

The truth is that this tax cut is going ahead at a time when bankers’ earnings are on the rise, with investment banks’ profits soaring off the back of a wave of takeovers and mergers caused by the pandemic. The UK arm of...

Just before the hon. Gentleman leaves the rise in national insurance contributions—a difficult decision for any Government, particularly given the backdrop of a manifesto commitment—surely he would criticise the Government were they to put the ideology of a manifesto front and centre, instead of trying to find a way of...

Just before the hon. Gentleman leaves the rise in national insurance contributions—a difficult decision for any Government, particularly given the backdrop of a manifesto commitment—surely he would criticise the Government were they to put the ideology of a manifesto front and centre, instead of trying to find a way of...

No one denies that the NHS needs more money, but hiding behind the hon. Member’s intervention is the idea that there is no other way to raise the £12 billion that the national insurance rise will raise. It takes some cheek to hear that from Conservative Members, when just yesterday...

No one denies that the NHS needs more money, but hiding behind the hon. Member’s intervention is the idea that there is no other way to raise the £12 billion that the national insurance rise will raise. It takes some cheek to hear that from Conservative Members, when just yesterday...

I commend the hon. Member for reminding the Government just how much of our money they have wasted in the last year. Does he remember a message on the side of a bus that promised a huge cash boost to the NHS if we left the European Union, and has...

I commend the hon. Member for reminding the Government just how much of our money they have wasted in the last year. Does he remember a message on the side of a bus that promised a huge cash boost to the NHS if we left the European Union, and has...

I remember many slogans that the Conservative party has used and I would not trust many of them. However, I would like to make some progress and talk about what the Government are doing, or failing to do, to tackle economic crime.

5 pm

We support the principle behind the economic crime...

I remember many slogans that the Conservative party has used and I would not trust many of them. However, I would like to make some progress and talk about what the Government are doing, or failing to do, to tackle economic crime.

5 pm

We support the principle behind the economic crime...

It is a great pleasure to address the House on the subject of new clause 2, which I am happy to sponsor with the hon.

Member for Easington (Grahame Morris), with the support of the RMT. I recognise that the Government are reviewing the tonnage tax regime with exactly the...

It is a great pleasure to address the House on the subject of new clause 2, which I am happy to sponsor with the hon.

Member for Easington (Grahame Morris), with the support of the RMT. I recognise that the Government are reviewing the tonnage tax regime with exactly the...

It is a pleasure to follow the hon. Member for Thurrock (Jackie Doyle-Price). I very much agree with the principles of her new clause 2 because, if this tonnage tax is to mean anything, it should be about more than just changing a flag; it should be about changing the...

It is a pleasure to follow the hon. Member for Thurrock (Jackie Doyle-Price). I very much agree with the principles of her new clause 2 because, if this tonnage tax is to mean anything, it should be about more than just changing a flag; it should be about changing the...

I rise to speak on behalf of the Liberal Democrats, particularly on new clause 27, which is tabled in my name.

The Liberal Democrats have concerns about this Bill. People who work hard, pay their taxes and play by the rules are seeing their incomes squeezed through no fault of their...

I rise to speak on behalf of the Liberal Democrats, particularly on new clause 27, which is tabled in my name.

The Liberal Democrats have concerns about this Bill. People who work hard, pay their taxes and play by the rules are seeing their incomes squeezed through no fault of their...

I appreciate the opportunity to speak to new clause 2 and amendment 34. I thank all Members who have co-sponsored or signed the new clause. It indicates extensive support not just from Labour Members, but from Members from across the House and a variety of parties. I must declare my...

I appreciate the opportunity to speak to new clause 2 and amendment 34. I thank all Members who have co-sponsored or signed the new clause. It indicates extensive support not just from Labour Members, but from Members from across the House and a variety of parties. I must declare my...