Clause 16 - Rates of gaming duty
Finance Bill
3:30 pm
Mr Richard Bacon (South Norfolk, Conservative)
The table in clause 16 will replace the table in section 11(2) in the Finance Act 1997. The figures in the bands in table of the 1997 Act amount to a total of £5.4 million, and anything over that is taxed at 33.3 per cent. The amounts stated in the table in the clause add up to £4.817 million, and anything above that level is taxed at 40 per cent. I would like the Economic Secretary to clarify for the record the fact that, in comparison with the 1997 Act, the clause sets out a higher rate of tax.