(Except clauses 3, 5, 6, 15, 21, 49, 90 and 117 and new clauses amending section 74 of the Finance Act 2003) - Schedule 2
Finance Bill
1:30 pm
Stewart Hosie (Spokesperson (Economy; Home Affairs; Treasury; Women); Dundee East, Scottish National Party)
The Financial Secretary quoted Duncan Bannatyne, so I am sure that that is what he said. She also said that the biotech sector had expressed similar views. The BioIndustry Association has certainly said to me:
“Much more needs to be done to help address the potentially fatal blow to the sector dealt by the abolition of taper relief on Capital Gains Tax in order to prevent an exit of investment from the sector, which already faces other significant funding challenges.”
That does not ring true with what the Financial Secretary has just said. I will give her the whole letter later if she has not got it.