Clause 3 — Rate of value added tax

Part of Bill Presented — Shared Parenting Orders Bill – in the House of Commons at 6:45 pm on 13th July 2010.

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Photo of Andrew George Andrew George Liberal Democrat, St Ives 6:45 pm, 13th July 2010

My hon. Friend talks about balance in the Budget. When he talked about the VAT rates in the basket of other European nations, I do not think that he was suggesting that this should be about pursuing the lowest, or even the highest, common denominator. He will have heard about the Financial Secretary's statement to the British Bankers Association last night on having further levies on banks. If that were possible and if it yielded sufficient income to the Treasury, would my hon. Friend agree that the Treasury could introduce a lower rate of VAT than is currently proposed?