Clause 69

Finance Bill – in a Public Bill Committee at 11:15 am on 5th June 2007.

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Question proposed, That the clause stand part ofthe Bill.

Photo of Adam Afriyie Adam Afriyie Conservative, Windsor

I was conscious that the Financial Secretary did not answer the question on what the expected change in revenue to the Exchequer might be under the clause in terms of inheritance tax and tax on lump sum transfers.

Photo of Stephen Timms Stephen Timms The Chief Secretary to the Treasury

The changes that we are making will ensure that ASPs will be used as intended. Our projections on revenue to the Exchequer were based on that assumption. All we are doing is changing the rules to ensure that they will happen and there is no impact on revenue.

Question put and agreed to.

Clause 69 ordered to stand part of the Bill.