Clause 141 - Ending of relief for contributions to QUESTS

Part of Finance Bill – in a Public Bill Committee at 4:30 pm on 12 June 2003.

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Photo of Stephen O'Brien Stephen O'Brien Conservative, Eddisbury 4:30, 12 June 2003

My hon. Friend understands the position. The word ''blocked''—I am sure that the Paymaster General will intervene if I have got this wrong—indicates a serious disadvantage and disincentive given the incentive to move on to new arrangements following the cessation of QUEST. It is therefore an in-built penalty. If I understand the Paymaster General's response correctly, her answer is ''That is where the current law stands and that is where it will therefore be left.'' The clarification is on the record, although many people will not want to hear it. My intention to withdraw the amendment has not altered, but I daresay that representations will continue to be made. If nothing changes and QUESTs that have ceased have a lot of cash in them, the subject may have to be revisited.