Growth and Infrastructure Bill — Commons Amendments

Part of the debate – in the House of Lords at 6:45 pm on 24th April 2013.

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Photo of Lord Flight Lord Flight Conservative 6:45 pm, 24th April 2013

I thought that what the OBR was effectively saying was that if capital gains tax on these arrangements were payable, that is the sort of revenue it would generate and the extent of the capital gains tax revenue that will be lost is because capital gains tax will not be payable. I am not clear that the OBR was citing fancy and wrong tax avoidance schemes for which it picked up intentions that they would be used. I stand to be corrected.