Clause 87

Part of Orders of the Day — Finance Bill – in the House of Commons at 6:30 pm on 8th May 1985.

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Photo of Mr Geoffrey Dickens Mr Geoffrey Dickens , Littleborough and Saddleworth 6:30 pm, 8th May 1985

Perhaps I am one of the Government's fattest friends. I am an engineer, not a property developer or a financier. The hon. Gentleman said that there would be no advantage to the consumer. Is it not right that many British institutions hold many acres of land? The trade unions and other bodies invest their pension funds in those institutions. Therefore, if there is a tax advantage to those institutions in the sale or development of their land, the money will accelerate and enhance the pension funds in which trade unions and many other disadvantaged bodies are pleased to place their money. Would they not obtain a better yield? The hon. Gentleman's argument is incorrect.