Schedule 32 - Tonnage tax: restrictions on capital allowances for lessors of ships
Finance Bill
7:45 pm
Ms Dawn Primarolo (Paymaster General, HM Treasury; Bristol South, Labour)
No, I am not saying that we did not have knowledge of that. I am referring to the specific avoidance mechanism that the provision seeks to deal with and only that. That is the point of the provision. I was not suggesting that the leases are devices; I was saying that the mechanism that gave a route for payment through the tonnage tax was a new tax planning device, which we have now closed.