Clause 5 - Taxation
Legislative and Regulatory Reform Bill
10:45 am
Oliver Heald (Shadow Secretary of State for Constitutional Affairs & Shadow Chancellor of the Duchy of Lancaster (Assisted By Shadow Solicitor General), Constitutional Affairs; North East Hertfordshire, Conservative)
My hon. Friend made an important point. I recall that when the Pension Protection Fund was brought into force, the amount that was to be paid into the fund was not called “taxation”, but a “levy”, which raises the question of whether it would be possible, under clause 5, to raise a levy across industry which would not count as taxation. Does my hon. Friend think that the Minister should address that point?