Clause 6
Finance Bill
9:45 am
Mark Hoban (Shadow Minister, Treasury; Fareham, Conservative)
Part of the problem, although we talked about it in the context of the 50p rate, is that the clause did not mention the 50p rate, but an “additional rate”. We know from the PBR last year that a 45p rate was to be introduced in 2011; in this year’s Budget the Government said that a 50p rate would be introduced in 2010. Who knows what the Budget decision will be next year, when the Chancellor gives his final Budget? We are discussing a clause in which no rate is defined or set, and we shall not know until next year whether the Government are prepared to carry through their commitment.