New clause 12 - Environmental protection rebates scheme
Finance Bill
6:45 pm
Mr Stephen Timms (Financial Secretary, HM Treasury; East Ham, Labour)
I can be helpful. We announced in the Budget that we are attracted to the idea of differential rates of aggregates levy for green quarries—the principle that is set out in the new clause. We are exploring with a variety of interested parties how such a scheme might be achieved in practice. There are some significant practical problems to be overcome, not least in defining exactly what a green quarry is. We need to know how those issues can be resolved in a practical and workable way before introducing legislation.
I recognise that the clause is enabling legislation and that accepting it would not commit the Government to very much, but further work is needed to resolve the practical issues surrounding the idea of a green quarry rebate. That work needs to be done before we legislate. The time to legislate is when we know exactly where we are heading, not when we are just guessing, which is what the new clause does. We are attracted to the principle that the clause sets out. We want to explore with all those affected how we can make this successful. When we have done that, we will introduce legislation if we can.