Clause 47
Finance Bill
9:45 am
Ian Pearson (Economic Secretary, HM Treasury; Dudley South, Labour)
I accept the hon. Gentleman’s point. He will be aware of the work being done on tax havens and other jurisdictions, and of the extensive amount of work involved in insolvency. It is important that we, as a Government, continue to work closely with the industry to discuss the impact of the proposed solvency II changes, and the competitive position more generally, and to take appropriate action where needed to ensure that the UK maintains its pre-eminent position in the world’s insurance markets.