Finance Bill

Part of Bill Presented — Constitutional Convention (No. 2) Bill – in the House of Commons at 1:20 pm on 21st July 2015.

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Photo of George Kerevan George Kerevan Scottish National Party, East Lothian 1:20 pm, 21st July 2015

In the shift to the new tax on banks, the Government are sweeping in mutual banks, building societies and the smaller challenger banks. That creates problems both in capital accumulation for the mutuals and in the ability of the new challenger banks effectively to gain capital to take on the larger banks. Is that an accident, or has some decision been taken to penalise those organisations?