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(Except clauses 7, 8, 9, 11, 14, 16, 20 and 92) - Clause 56

Part of Finance Bill – in a Public Bill Committee at 11:15 am on 16th June 2009.

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Photo of Jeremy Browne Jeremy Browne Shadow Minister (Treasury) 11:15 am, 16th June 2009

The hon. Gentleman raises a legitimate concern about currency fluctuations within the year and the effect on tax liability. Does he conclude that the Conservative policy of shadowing the deutschmark in the early 1990s would be wisely replicated by shadowing  the euro now so that those difficulties could be avoided? That is not my view, but it seems to be the view of Conservative Back Benchers.