I am glad that the Paymaster General is so keen to ensure that the measure is not exploited. She should understand the effect that it would have if, in a year's time the IFS turns out to be even half-right and the Government decided to take action, because accountants would have spent a great deal of valuable time persuading companies to incorporate. If the Government then change, those companies would be free to try to unincorporate, but that would be an extra deadweight cost.
While the Paymaster General is right to assure the Committee that she will be vigilant, she must be careful when she makes what the right hon. Member for Fylde called ''tinkering changes'' that she is not creating accountants' activity that serves no good, economic purpose.
Question put and agreed to.
Clause 32 ordered to stand part of the Bill.