Clause 5. — (Rebate of Duty on Heavy Oils.)

Part of Orders of the Day — Finance Bill – in the House of Commons at 12:00 am on 15th June 1966.

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Photo of Mr Niall MacDermot Mr Niall MacDermot , Derby North 12:00 am, 15th June 1966

If the Committee accepts the advice just given by the hon. Member for Wanstead and Woodford (Mr. Jenkin) we shall have a truly remarkable demonstration. We shall see the Opposition voting in favour of an Amendment to reduce taxes by £33 million in a year when the Leader of their own party informed the House yesterday that the most urgent thing which is needed is for the Government to adopt policies to reduce the inflationary pressures in the economy.

The hon. Member asked me whether to reduce taxation by £33 million a year would be inflationary. He himself described that sum of money as being a bagatelle. The hon. Gentleman who supported the Amendment which the committee is invited to vote for himself recognised that, because of this very economic situation, because of these inflationary pressures, this is not a year in which he would expect the Amendment to be accepted, yet the Front Bench spokesman recommends the Committee to vote for it.