Phasing Out of Aprt

Part of Orders of the Day — Finance Bill – in the House of Commons at 7:45 pm on 28th April 1983.

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Photo of Jack Straw Jack Straw Shadow Spokesperson (Treasury) 7:45 pm, 28th April 1983

I did not feel able to support the hon. Gentleman's amendments, but we were concerned about the effect of APRT upon the cash flow of oil companies. There was a dispute between ourselves and the Government about who was right. It has turned out—and one result is the changes announced today—that the APRT has had a more adverse effect on the companies' cash flow than the Government expected this time last year.