Schedule 23 - Corporation tax relief for employee share acquisition

Part of Finance Bill – in a Public Bill Committee at 3:45 pm on 12 June 2003.

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Photo of Dawn Primarolo Dawn Primarolo Paymaster General (HM Treasury) 3:45, 12 June 2003

It seems that, whatever I say this afternoon, I cannot win. If I tell the Opposition honestly why their amendment does not work, they say that I am pulling rank with the parliamentary counsel; and if I tell them that it breaks the anti- avoidance rules, they say that I am hiding behind the anti-avoidance issue. If I am absolutely honest and gentle with them and tell them that their proposal would allow double taxation, which in my humble opinion would be unwise, they complain about that as

well. How am I to answer their amendments if they do not allow me to describe the position?