(Except clauses 3, 5, 6, 15, 21, 49, 90 and 117 and new clauses amending section 74 of the Finance Act 2003) - Schedule 16
Finance Bill
4:30 pm
Mark Hoban (Shadow Minister, Treasury; Fareham, Conservative)
Let me summarise the position that we had reached on the amendments before lunch. As parliamentarians, we should be jealous of our rights to determine tax law. Parliament fought for those rights and we should not give them up lightly. I am not convinced that the Economic Secretary has fought as vigorously as she should have done to make sure that Parliament kept the rights that the amendment would enshrine in the Bill.
The Minister said three things that gave me some comfort, the first of which was that Her Majesty’s Revenue and Customs would consult the industry on how the regime would work.