Part of Finance Bill – in a Public Bill Committee at 3:30 pm on 10 May 2007.
David Gauke
Conservative, South West Hertfordshire
3:30,
10 May 2007
I note the Financial Secretary’s point that when the aggregate levy was introduced there was a tax cut in another area to offset it, so it is, at best, neutral. However, according to the Red Book the increase in the aggregate levy will yield an additional £40 million in 2008-09 and £45 million in 2009-10. What taxes were cut to ensure that those increases will be fiscally neutral?
A parliamentary bill is divided into sections called clauses.
Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.
During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.
When a bill becomes an Act of Parliament, clauses become known as sections.
