(Except Clauses 7, 8, 9, 11, 14, 16, 20 and 92) - Schedule 35

Part of Finance Bill – in a Public Bill Committee at 1:00 pm on 18th June 2009.

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Photo of Mark Hoban Mark Hoban Shadow Minister (Treasury) 1:00 pm, 18th June 2009

Welcome to the Chair for this afternoon’s sitting, Mr. Atkinson.

The Financial Secretary promised us that we would see the new Exchequer Secretary this afternoon, but I understand after talking to her that she is currently trying to complete her transitional arrangements between Departments.

Before lunch, I was concluding the debate on the amendments by pointing out that the Government’s desire to clamp down on potential tax leakage through the forestalling arrangements is at risk of masking some of the people who will fall victim to the hard edges of the scheme. The Government should think about the individuals who may be affected by the measure, in particular those who will fall foul of the £150,000 earnings barrier. Having said that, the Minister has made some important points about the cost of some the changes proposed in the amendments. As I have said before, the main show in town is the next group of amendments, and I am anxious to speak to them. I beg to ask leave to withdraw the amendment.