Clause 16 - Open-ended investment companies
Finance Bill
6:45 pm
Richard Spring (Shadow Minister, Treasury; West Suffolk, Conservative)
The Minister should examine the experience of other countries. The huge obstacles that Ministers keep referring to have been dealt with by other countries, including other European Union countries and others. Business is being lost to this country. Here we are dealing with legislation to prevent the Exchequer losing money through avoidance, which is one thing, but a problem has been created through delay, which is impossible to understand. As has been publicly stated, business has been taken abroad, because of the Government's unwillingness or incapability to act.