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Orders of the Day — Finance Bill

Part of the debate – in the House of Commons at 3:49 pm on 20th April 2004.

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Photo of David Laws David Laws Shadow Chief Secretary to the Treasury 3:49 pm, 20th April 2004

My hon. Friend is right. As he has raised the point, I shall deal with it now. I have been assiduously pursuing the points that he asked me to pursue, because he was unable to be present at the beginning of our debate. I asked the Chief Secretary whether in future it would be necessary to pay VAT on the golden bonds that were used by a number of people running for charities in the London marathon. The answer that I think the Chief Secretary gave and that I hope the Paymaster General, who is mouthing at me—favourable things, I hope—will make clear, is that the Treasury would provide clarification and that there was a possibility that people using golden bonds would not have to pay VAT. My hon. Friend has received representations from London Marathon Ltd., which is, I believe, supportive—