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Clause 1 — Main rate of corporation tax for financial year 2011

Part of Finance Bill – in the House of Commons at 8:45 pm on 12th July 2010.

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Photo of Stewart Hosie Stewart Hosie SNP Chief Whip, SNP Deputy Leader, Shadow SNP Spokesperson (Treasury) 8:45 pm, 12th July 2010

I am listening carefully to the right hon. Gentleman's comments, and I rise to seek the following clarification. Am I right that it was in fact the previous Government who-sensibly-allowed unused tax assets to pay, at least in part, for the asset protection scheme to protect all of us against non-performing and toxic assets?

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