Clause 28
Finance (No. 2) Bill
12:30 pm
John Healey (Financial Secretary, HM Treasury; Wentworth, Labour)
Obviously, it is the Treasury’s role to set fiscal policy; the role of HMRC is to manage and administer that tax policy. We do so within the broader regulatory framework, for which other parts of the Government are responsible, but I shall draw the comments of the hon. Member for Rugby and Kenilworth (Jeremy Wright) to the attention of my hon. Friends in the Department of Health.
I say to the hon. Member for Braintree (Mr. Newmark) that, as I think I indicated in my short opening remarks, at each stage of the introduction of the R and D tax credit system—first for small firms, then larger companies—we have made it clear that we want to build on the emerging success. At each stage we have said that we shall look at possible improvements, including in the administration, and have welcomed the views of businesses, including that of the CBI, and their suggestions for improving the administration of the credit and payable allowance.
That was the intention behind the package of announcements in the pre-Budget report and the setting up of specialist units in HMRC, and that is why both were welcomed. The hon. Gentleman referred to the ironing out of some of the wrinkles in the system—I am keen on ironing; clause 29 does a bit of ironing too. I hope thereforethat he will support clause 28, and clause 29 when we get to it.