Schedule 33 - Insurance companies

Part of Finance Bill – in a Public Bill Committee at 10:00 pm on 20 May 2003.

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Photo of Mr Howard Flight Mr Howard Flight Shadow Chief Secretary to the Treasury 10:00, 20 May 2003

I am sorry, I thought that they were all grouped together.

I cannot believe it, but I seem to have ploughed through my several points. I trust that the Economic Secretary will be aware of most of them, as I know that there have been representations to the Revenue, and just the other day there was a major industry conference in which the Revenue participated. I know that the industry does not want the Treasury to think that it does not acknowledge some of the favourable aspects of the reforms; but the industry, its advisers and I feel that the points that we have referred to are on provisions that do not do anything helpful and the issues that they deal with could be better addressed.

I have spoken to all the amendments in the group. As I commented earlier, we will want to press amendments Nos. 133 and 134 to a vote later, in whatever constitutional way we may, if the Government do not agree to accommodate them in some way.