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Orders of the Day — Finance Bill

Part of the debate – in the House of Commons at 2:20 pm on 20th April 2004.

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Photo of Richard Bacon Richard Bacon Conservative, South Norfolk 2:20 pm, 20th April 2004

The Chief Secretary is right that the illicit trade is of concern to the legitimate industry. Does he recognise that it is also of concern to taxpayers that, as was pointed out in the Roques report, the actions of Customs and Excise—which, I accept, have improved since—contributed dramatically to the losses to the taxpayer? Some £800 million of revenue was lost, £341 million to London City Bond alone.