New Clause 14 — Report on the additional rate of income tax

Part of Finance Bill – in the House of Commons at 2:45 pm on 1st July 2014.

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Photo of David Wright David Wright Labour, Telford 2:45 pm, 1st July 2014

Does the Minister accept that the Office for National Statistics and the Office for Budget Responsibility have said that, after the Chancellor made his Budget announcement about the tax rate, people delayed and deferred bonuses and shuffled their cash around to avoid the system? Is this not actually about very rich people shuffling their money around in order to avoid tax? We need a simple system with a 50p rate, and we need to study it over a long time to determine its impact.