Finance (No. 2) Bill

Part of Bill Presented – in the House of Commons at 5:32 pm on 1st April 2014.

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Photo of Jacob Rees-Mogg Jacob Rees-Mogg Conservative, North East Somerset 5:32 pm, 1st April 2014

The point that the hon. Gentleman is missing is that the money that is taken out of the taxpayer’s pay packet is tax in the first place, so this is merely changing the money from being spent in one part of the country to being spent in another; it is not creating new money.