Schedule 4
Finance (No. 2) Bill
1:45 pm
Edward Balls (Economic Secretary, HM Treasury; Normanton, Labour)
I welcome you back to the Chair, Sir John. We had a long debate this morning on a number of the clauses relating to schedule 4, and I was just coming to the end of my remarks. I had referred to all five amendments— amendments Nos. 40, 42, 53, 55 and 41—and I was answering a final question from the hon. Member for Chipping Barnet (Mrs. Villiers) on transfer pricing. I concluded by saying that we did not think that there was anything novel in the situation for transfer pricing that will face the film industry. It will be no different from the normal way in which transfer pricing rules apply. The normal rules will apply and although that may be uncomfortable for those who attempted to use them for tax avoidance reasons, we do not think that there will be a problem to trouble any genuine film makers. On that basis, I ask the hon. Lady to withdraw the amendment.