(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 RÿD tax credits for oil exploration.) - Schedule 22 - Employee securities and options
Finance Bill
3:00 pm
Ms Dawn Primarolo (Paymaster General, HM Treasury; Bristol South, Labour)
Perhaps the CIOT would also explain to members of the Committee how the Government should address large-scale avoidance involving £1.4 billion of remuneration in one year. That money passed through artificial equity remuneration schemes. How could we conduct a public consultation on that?
The CIOT is an active, but mostly friendly, critic of the Government in challenging how we proceed with our legislation. I do not know why it thinks that. In the end, we are the elected Members. I am a Minister and have to examine the information before me. I take advice from my expert officials and I—not the CIOT—have to take a decision to protect the public purse, which I have done.