Clause 4

Part of Finance Bill – in a Public Bill Committee at 12:30 pm on 19th May 2009.

Alert me about debates like this

Photo of Mark Todd Mark Todd Labour, South Derbyshire 12:30 pm, 19th May 2009

I entirely accept my right hon. Friend’s argument about fairness. However, I must admit that I have been puzzled about the mechanisms that have been chosen, which are likely to incentivise behavioural change in a group of people who are well able to pay for advice to maximise the benefit of that change. What calculation has the Treasury done on the net revenue that will be lost as a result of this proposal from people simply altering their behaviour, such as topping up—admittedly, only temporarily—their pensions, putting money into venture capital trusts, or using a variety of mechanisms that would achieve the outcome that they desire?