Clause 1
Finance Bill
11:30 am
Philip Hammond (Shadow Chief Secretary To the Treasury, Treasury; Runnymede and Weybridge, Conservative)
To be fair to the hon. Member for Taunton, I think that he was addressing his intervention not so much to the policy of a future Government, but to the possibility of amendments being tabled on Report. My understanding, like his, is that that is on the cards. That is relevant, because the amendment proposes a modification of the initial rate of tax from 20 per cent. to 16 per cent. Inevitably, that debate has to be set in the context of the Government’s measure to remove the 10p rate. However, I bow to your strictures, Sir Nicholas, and hope that we will have an opportunity on clause stand part to debate one or two other issues that relate to clause 1.