Results 41–60 of 1548 for speaker:Mr Tim Smith

Orders of the Day — Horserace Totalisator Board Bill [Lords]: New Corporate Powers for the Horserace Totalisator Board ( 7 Feb 1997)

Mr Tim Smith: I am surprised by my hon. Friend's comments. Some £5 billion is bet on the national lottery each year, and that has clearly had some significant macroeconomic effects. For example, there is a large black hole in value added tax receipts, and research suggests that that is partly because consumer spending that would have been VAT-able has switched to the national lottery. Therefore, I think...

Orders of the Day — Finance Bill: Special Treatment for Certain Distributions (23 Jan 1997)

Mr Tim Smith: The hon. Gentleman has twice said that there has been a huge haemorrhaging of revenue. Does he agree that, if the rules that are now proposed had been in place, the companies would not have behaved in the same way? It is unrealistic to think that, if there is a major change in the law, it does not influence people's behaviour. It is nonsense to suggest that a great deal of revenue was lost.

Orders of the Day — Finance Bill: Special Treatment for Certain Distributions (23 Jan 1997)

Mr Tim Smith: What point is the hon. Gentleman trying to make? Who is he saying should decide whether a "financial engineering project"—as he described it—is bona fide or not?

Orders of the Day — Finance Bill: Special Treatment for Certain Distributions (23 Jan 1997)

Mr Tim Smith: I believe that the paragraph from Taxation that the hon. Member for North Cornwall (Mr. Tyler) read out is, if I may say so, a slight exaggeration. The problem is not exclusively Cornish and I have received a letter from a company in Nottinghamshire that said that its family-owned business would be severely hit by the retrospective and unannounced nature of the proposals. It continues:...

Orders of the Day — Finance Bill: Writing-Down Allowances on Long-Life Assets (22 Jan 1997)

Mr Tim Smith: It is my recollection that not so long ago the Opposition argued for enhanced capital allowances—indeed, a possible return to 100 per cent. first-year allowances. I certainly remember that in 1984, when we moved to a lower rate of income tax and lower capital allowances, there was opposition from the Labour party. Is it now the Opposition's policy to pursue what I would consider to be a...

Orders of the Day — Finance Bill: Writing-Down Allowances on Long-Life Assets (22 Jan 1997)

Mr Tim Smith: I take the view that, as far as possible, the taxable profit of a business should, for the purpose of corporation tax, be as near as possible to the reported profit that appears in the accounts. Of course, it is not possible to achieve that in practice for very good reasons. In practice, one takes the reported profit in the accounts, adds the depreciation and then deducts the capital...

Orders of the Day — Finance Bill: Writing-Down Allowances on Long-Life Assets (22 Jan 1997)

Mr Tim Smith: If it was clear that there was one contract and everything was carried out under that umbrella, there would not be a problem, as I understand the schedule. However, if there was something less than a contract—a commitment that was not contractually binding under which the project would not be viable if the whole undertaking was not proceeded with—there may he a problem. I do not know, but...

Orders of the Day — Finance Bill: Writing-Down Allowances on Long-Life Assets (22 Jan 1997)

Mr Tim Smith: Does the hon. Gentleman agree that the exemption in the schedule for any business that spends less than £100,000 in one year on capital investment means that it is unlikely to apply to all small businesses and many medium-sized businesses?

Orders of the Day — Finance Bill: Writing-Down Allowances on Long-Life Assets (22 Jan 1997)

Mr Tim Smith: Is my hon. Friend saying that it would be open to airlines to break down an aircraft into its component modules? If the engines had a life of only 15 years, could they claim capital allowances at the current rate on the engines but claim for the fuselage under the new arrangements?

Business of the House: Local Government Finance (Buckinghamshire) (14 Jan 1997)

Mr Tim Smith: I am grateful to my hon. Friend the Member for Aylesbury (Mr. Lidington) for allowing me to say a few words in the important debate that he has secured. I felt that, in the context of a pretty tough spending round, we had a very fair settlement in Buckinghamshire, particularly in regard to education. I think that we all attach the highest importance to the education budget. As my hon. Friend...

Orders of the Day — Petition: Green Belt (16 Dec 1996)

Mr Tim Smith: I am grateful to have the opportunity to raise the subject of the protection of the green belt. There is no doubt that the green belt policy, which has been in place for almost 50 years, has been successful. The metropolitan green belt is well established. Most of my constituency lies within it. Without it, we probably would have had urban sprawl and ribbon development all the way between...

Orders of the Day — Petition: Green Belt (16 Dec 1996)

Mr Tim Smith: I am grateful to my hon. Friend and very much agree with him. We need to try to ensure that as many of those houses as possible are built in urban areas on reclaimed derelict land, rather than in the green belt where they would take up more of our lovely countryside. There is constant pressure on the green belt. As well as the three motorways in my constituency, there is gravel extraction,...

Orders of the Day — Petition: Green Belt (16 Dec 1996)

Mr Tim Smith: I am not at all sure about that. My main concern is with the green belt, because the whole of my constituency lies within it. My hon. Friend is better qualified to speak on other matters. The planning officer continued: As an example of what could be done, a householder living in a property on the edge of the Green Belt could buy the next field, annex it to his property and build over at...

Trade and Inward Investment ( 6 Dec 1996)

Mr Tim Smith: He is a rat.

Trade and Inward Investment ( 6 Dec 1996)

Mr Tim Smith: Can the hon. Lady name one hon. Member or one serious political commentator who has ever suggested that the way forward was for Britain to be a low-skill, low-wage economy?

Trade and Inward Investment ( 6 Dec 1996)

Mr Tim Smith: I hope that you enjoyed that speech, Mr. Deputy Speaker. It was clear that the hon. Member for Brent, East (Mr. Livingstone) not only had not got hold of a copy of the Conservative research department's briefing, but had not obtained any briefing from the Labour party's Front-Bench team either. Had he received any briefing at all, it might well have been from the Referendum party. It struck...

Trade and Inward Investment ( 6 Dec 1996)

Mr Tim Smith: On a point of order, Madam Deputy Speaker. As reference has been made to the excellent document on trade and inward investment, published by the Conservative research department, would it be possible, for the benefit of hon. Members who are not present, to have the entire text printed in Hansard as an appendix to the debate?

Trade and Inward Investment ( 6 Dec 1996)

Mr Tim Smith: The hon. Gentleman mentioned the third world and especially African countries. Has he seen the three-dimensional chart on page 18 of the White Paper showing the clear relationship between the trade orientation of different countries and growth in hiving standards? Is it not important that those countries should be outward looking and not protectionist because that would enable them to benefit...

Trade and Inward Investment ( 6 Dec 1996)

Mr Tim Smith: Read it out.

Trade and Inward Investment ( 6 Dec 1996)

Mr Tim Smith: I am not convinced that the single currency issue is important to Britain's trade. If the hon. Gentleman believes that it is so important, will he say what he and the Labour party think about it?


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