Schedule 9
Finance Bill
4:30 pm
Edward Balls (Economic Secretary, HM Treasury; Normanton, Labour)
I am very grateful for my hon. Friend’s commentary. The claim, “This is the most curious piece of drafting I have ever seen in a Finance Bill” is, for him, one hell of a claim. Whether it would stand the test of true scrutiny I do not know. He has a fine track record of highlighting curious pieces of drafting. I can only encourage him to participate fully, not only in the next stage of our consultation but in the affirmative procedure that we will apply to ensure that that drafting is fully reflected in the final schedule. If I can shine any light on this particular curiosity I shall be happy to write to my hon. Friend. I shall ensure that all members of the Committee are copied and that the letter is worth framing.
I am grateful to the hon. Member for Fareham for having highlighted the fact that we on this side of the Committee do not take an over-dogmatic or idealistic approach to these matters but are happy to proceed case by case on the basis of the consultation and the evidence that arises in any particular circumstance. Before Conservative Members get over-excited, it would be foolish and wrong of me to lecture them, as Conservatives, on the importance of precedent. That is clearly an important part of conservatism, whatever—I will not go there. I fear that the issue of grammar schools might be ruled out of order, Mr. Illsley.
Clearance procedures for transfer of business are in place under existing legislation. We are replacing previous clearance procedures with a new and more streamlined one. Unlike the discussion on the previous clause, this is not a debate about whether to introduce a new clearance procedure. Perhaps because of the complexity of the tax regime legislation, clearance is judged to be desirable in this case from a Financial Services Authority and court point of view. It was desirable before and it will be in future. I hope that the hon. Gentleman finds that to be an accurate, non-ideological and conservative answer to his question.