Clause 1
Finance Bill
10:45 am

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Photo of Stewart Hosie

Stewart Hosie (Spokesperson (Economy; Home Affairs; Treasury; Women); Dundee East, Scottish National Party)

I am looking at the Red Book, and the cost over three years of reducing it to 20p was £28.5 billion. It would be £85.5 billion in total to go from 22p to 16p, and to go from 20p to 16p would be £57.5 billion over three years. That is an extraordinary amount of money. The hon. Gentleman said that that would be offset by taxes elsewhere. Can he tell us what environmentally damaging things he would tax to find £57.5 billion over three years?

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