Clause 7 - Charge to income tax on lump sum
Finance Bill
12:30 pm
Ivan Lewis (Economic Secretary, HM Treasury; Bury South, Labour)
As ever, I thank my hon. Friend for spotting that; the Opposition are not in a position to announce Government policy, and will not be for many years to come.
To stick to the point, I acknowledge and recognise that the hon. Member for Runnymede and Weybridge made a perfectly reasonable point about partial deferment, but I made it absolutely clear that that is not Government policy at this stage, as we believe that it may—only may—lead to confusion, ambiguity and unintended consequences. I feel strongly that it would be inappropriate at this stage to suggest that that is Government policy by putting it in this Finance Bill. The provision has not even yet formed part of any pensions Bill, which, in the circumstances, would be the place where we would ordinarily start with such a measure. On that basis, I ask the hon. Gentleman to allow the Committee to make progress.
Question put and agreed to.
Clause 7 ordered to stand part of the Bill.