Clause 33 - Company distributions

Part of Finance Bill – in a Public Bill Committee at 9:00 am on 14 June 2012.

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Photo of John Mann John Mann Labour, Bassetlaw 9:00, 14 June 2012

Mr Sheridan, good morning to you. It is good to see you in your Chair. As the more observant members of the Committee will note, whenever there is a Chair of the Committee from the Opposition, the sun shines. One could be suspicious. This may be the workings of the Chairman’s Panel, because it could be that someone in Brussels is manipulating the clouds above our heads. That is the purpose of the question that I wish to pose. In our previous sitting, there was some ambiguity about the slavish support for European Union legislation impeding our ability to set our own taxes in this country. That emanated from the Conservative party. I can confirm that all the legislation that handed powers over to Brussels to interfere with our ability to determine our own taxes was initiated and agreed by the Conservative party in power.

I appreciate that the Ministers are distracted, because at the current time there are 17 directives or draft directives relating purely to financial services and their Treasury remit on the table in Brussels at the moment. Ministers must be prostrating themselves at the altar of Brussels on a regular basis. Has anything in the clause been impacted on by the European Union? Has the Government’s freedom to introduce their proposal been restricted by what the Conservative party forced through Parliament when it handed over taxation powers to the European Union?