This is not about a difference of scope or subject. Because we have had more time, we have been able to add further amendments in recent days at the request of the ABI, particularly Government amendments Nos. 131 to 133. We have tried to add those amendments to meet the needs of the industry. There is one case where we have changed the legislation to ensure that a company cannot generate a loss earlier than it would do so naturally by moving the asset around the company or its group.

That is not fully to the liking of the industry, but it was necessary to ensure that we protected the Exchequer. However, I have asked HMRC to monitor that rule carefully to ensure that it works properly, and not harshly. I also know that the industry does not like the way in which section 83XA(6) deals with the capital gains treatment of structural assets. That is not something  that we have been able fully to bottom in the consultation. The ABI’s preferred solution seemed to skew the results too far towards an Exchequer loss, and both sides accept that that may be a theoretical, rather than a substantial, point of difference. However, it is an area where we are trying to do the right thing, while protecting the revenue base. I am happy to give an assurance to both the ABI and Opposition Members that we will keep that under review. The amendments ensure that the structural assets are given in all cases, including where the substantial shareholding exemption is relevant, and where there is a transfer of business. I am happy to commend the amendments to the schedule to the Committee.