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Schedule 23 — Air passenger duty

Part of “Group 12 — Caravans – in the House of Commons at 10:14 pm on 3rd July 2012.

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Photo of David Gauke David Gauke The Exchequer Secretary 10:14 pm, 3rd July 2012

Members will recall that the independent Office for Budget Responsibility revealed that the underlying damage to the economy and our challenge in repairing it was much greater than anyone had thought. It was therefore vital for us to take decisive action to restore the economic stability that was needed for recovery, and the Bill is part of that. In order to address the enormous debts that we inherited, confront Britain’s problems and get the economy moving, the Government have undertaken a sustained programme of deficit reduction.

As I said earlier, the Bill supports business and growth. It implements milestones for the corporation tax roadmap, overhauls the controlled foreign companies regime, and introduces the patent box.