(Except clauses 1, 4, 5, 9, 14, 22, 42, 56, 57, 124, 130 to 135, 138, 139, 148 and 184 and schedules 5, 6, 19 and 25, and any new clauses and schedules tabled by Friday 9th May 2003 relating to excise duty on spirits or R&D tax credits for oil exploration.) - Clause 7 - General betting duty: betting exchanges
Finance Bill
2:30 pm
Mr John Healey (Economic Secretary, HM Treasury; Wentworth, Labour)
May I welcome you to the Chair, Mr. McWilliam, for this afternoon's sitting? I have no doubt that you will be no less fair and no less firm than Sir Nicholas made it clear he intended to be this morning. I look forward to serving under your chairmanship alongside your co-Chairmen.
With my last breath before sitting down, I was on the last line of my response to my hon. Friend the Member for Knowsley, North and Sefton, East (Mr. Howarth) when I took an intervention from him. He asked whether the majority of betting exchange customers are recreational users and whether the majority of exchange business is recreational. The figures that we have come from commercial companies, so the precise details are confidential. However, I can confirm that the vast majority of betting exchange customers are recreational users, and they account for the vast majority of betting exchange business. I hope that that is helpful.
My hon. Friend's amendments Nos. 126 to 130 would change fundamentally the reform proposed in the Bill, and the exchanges would retain their current volatility. Therefore, I hope that my hon. Friend will consider withdrawing his amendment.