Schedule 10 - Chargeable gains:
Finance Bill
12:45 pm
Mr Howard Flight (Arundel and South Downs, Conservative)
I was interested to note that the Economic Secretary repeated the trading versus investment argument referred to earlier, and automatically subscribed to the argument that there is something wicked about investment, which a company desperately needs, and something virtuous about trading in relation to business assets. Capital gains tax arrangements have become a nightmare for citizens, and have been so structured it will be quite tricky for us to reform them in due course. We still think that that is a serious issue.
It being One o'clock, The Chairman adjourned the Committee without Question put, pursuant to the Standing Order.
Adjourned till this day at half-past Four o'clock.