Part of Finance Bill – in a Public Bill Committee at 11:45 am on 13 June 2013.
Catherine McKinnell
Shadow Minister (Treasury)
11:45,
13 June 2013
Yes, I think the hon. Gentleman is confusing slightly what I was saying. To clarify, I was querying whether the ATED and the SDLT together would raise more than the cost of administering the charge, because of the way that it is set up. I am simply putting those questions to the Minister to confirm what the position is. We are in a Committee and we need to probe with amendments. The Government have the ability to make calculations and to assess the level at which the tax has been set and whether it is at an appropriate level for the administration to bring in that revenue. In terms of the Amendment, I am trying to explain the use that we would make of the revenue that could be brought in by a tax on properties, to fund a reduction in corporation tax for those on the lowest earnings.
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