Loan Charge

Part of the debate – in the House of Commons at 4:45 pm on 11th April 2019.

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Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General 4:45 pm, 11th April 2019

I will not give way just yet. My second point is that the very nature of this means of payment, of tax avoidance, is that it involves a loan that is still outstanding—those loans are still outstanding today, at this very moment, for any schemes that still persist. It is a simple fact that most people, including the 99.8% of the tax-paying public who did not go anywhere near these schemes, would have concluded that if something looked too good to be true, it probably was too good to be true.