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New Clause 9 — Lower rate of tax and mansion tax

Part of Finance Bill (Ways and Means) – in the House of Commons at 7:30 pm on 1st July 2013.

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Photo of David Gauke David Gauke The Exchequer Secretary 7:30 pm, 1st July 2013

I will in a moment. I look forward to the hon. Gentleman’s question, and will listen to it attentively. Before I do so, however, I should acknowledge his assurance that there would be a case for some type of mitigation for people in the circumstances to which I have just referred. That would, of course, have an impact on the yield, and the average of £36,000 would increase.