New clause 12 - Environmental protection rebates scheme
Finance Bill
6:45 pm
Mr Stephen Timms (Financial Secretary, HM Treasury; East Ham, Labour)
The provision in the Bill is completely clear. It is important that we make progress to deal with an important environmental issue. That is what the introduction of the levy will achieve. Beyond that we think that it is right to look at ways in which we can introduce a scheme that deals differently with green quarries. We will certainly seek to consult all those parties that are identified in paragraph 4 of the new clause. The hon. Gentleman suggested that we are introducing a stealth tax. I refer him to an earlier debate in Committee, in which it was mentioned that the introduction of the aggregates levy will be revenue neutral, because there will be a reduction in employers' national insurance contributions plus the new sustainability fund, which will account for all the proceeds from the levy.