New Clause 1 — Tax Credits for Individual Savings Accounts and Personal Equity Plans
Mr Howard Flight (Arundel and South Downs, Conservative)
Does the Minister not agree that as a matter of principle, it is undesirable to have tax signals that could drive investment decisions? There are all sorts of reasons why people might buy bonds or equities, but the Government should recognise that a better deal on taxation of income being available on bond interest than on equity dividends will have an impact on the way in which moneys flow. In principle, that is not a good thing.