Review

Part of Finance (No. 2) Bill – in the House of Commons at 4:15 pm on 21 February 2018.

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Photo of Peter Dowd Peter Dowd Shadow Chief Secretary to the Treasury 4:15, 21 February 2018

The explanatory statement for new clause 3 says:

“This new clause requires the Government to carry out a review of the bank levy, including its effectiveness in relation to its stated aims, the revenue effects of the changes made in 2015 and the comparable effectiveness of the bank payroll tax.”

The stated aim, as set out in the Government’s own document, is as follows:

“Its purpose is to ensure that banks and building societies make a fair contribution, reflecting the risks they pose”.

We are asking for a review. If the hon. Gentleman is so sure of his facts and his case, why not have the review and see who is right in this debate?