Results 121–140 of 1548 for speaker:Mr Tim Smith

Schedule 5: Taxation of Savings at the Lower Rate (28 Mar 1996)

Mr Tim Smith: The amendments deal with an issue that I raised in the Standing Committee, which had to do with the 20p tax on savings and the concern that I raised on behalf of the Association of British Insurers that savings in insurance products should be treated in the same way as others and attract the 20p rate. I thank my hon. Friend for making the change.

Clause 74: Taxation of Loan Relationships (28 Mar 1996)

Mr Tim Smith: I have a great deal of sympathy with what my hon. Friends the Members for Gloucester (Mr. French) and for Fulham (Mr. Carrington) say, because they are both worried about the broad way in which the anti-avoidance provisions are drawn. I raised that matter in Committee. I know that my hon. Friend the Economic Secretary gave it some attention, and I am hopeful that she might be able to say...

Schedule 4: Landfill Tax (28 Mar 1996)

Mr Tim Smith: My recollection is that contracts that were signed before 29 November 1994 were a matter of concern to the Building Employers Confederation. I would also like to welcome the amendments that my right hon. Friend has proposed.

Clause 74: Taxation of Loan Relationships (28 Mar 1996)

Mr Tim Smith: Will the hon. Gentleman confirm that it is now Labour party policy to introduce statutory interest on the debts of companies? If so, would that be subject to this legislation? Would that not be an additional complication for small businesses?

New clause 5: Incidental benefits for holders of certain offices etc (27 Mar 1996)

Mr Tim Smith: Will the hon. Gentleman give way?

New clause 5: Incidental benefits for holders of certain offices etc (27 Mar 1996)

Mr Tim Smith: Given the clear assurance that my hon. Friend the Financial Secretary gave on this matter, I am slightly surprised at the hon. Gentleman's response. Will the hon. Gentleman now say that, if the clause finds its way into the Finance Act, a future Labour Government would immediately refer it to Nolan or to Sir Gordon Downey?

New clause 5: Life Assurance Business Losses (27 Mar 1996)

Mr Tim Smith: As you will have gathered, Madam Speaker, this is effectively a piece of unfinished business from last year's Finance Act. We discussed it in Committee, and I am grateful to my hon. Friend the Financial Secretary to the Treasury for bringing the measure forward.

New clause 5: Exemptions (27 Mar 1996)

Mr Tim Smith: I congratulate my right hon. Friend the Paymaster General on the way in which he has handled the landfill tax. I fully support the principle of a landfill tax, but it is important that, at the margin, we should get its scope right. Concern was expressed in Committee on behalf of several industries that felt that they would be placed at a competitive disadvantage or had other genuine reasons...

Orders of the Day — London Regional Transport Bill (13 Mar 1996)

Mr Tim Smith: I am grateful to the hon. Gentleman for giving way to me so enthusiastically. Holding fares down artificially meant that the taxpayers of London had to foot the bill for rich tourists—that was my point.

Orders of the Day — London Regional Transport Bill (13 Mar 1996)

Mr Tim Smith: rose—

Orders of the Day — London Regional Transport Bill (13 Mar 1996)

Mr Tim Smith: If the hon. Gentleman is so keen on public ownership, will he tell us how Railtrack would be taken back into public ownership by Labour?

Orders of the Day — London Regional Transport Bill (13 Mar 1996)

Mr Tim Smith: I agree with the hon. Gentleman that, in effect, the cost will be spread over a number of years, perhaps 30. The point is, however, that the capital will be provided by the private sector now and if it were not, the widening would not take place at all.

Orders of the Day — London Regional Transport Bill (13 Mar 1996)

Mr Tim Smith: I am pleased to follow my hon. Friend the Member for Croydon, North-East (Mr. Congdon) as he is an old friend of mine and I agree with much of what he said. He made an especially important point when he said that, although the price of public transport is important, people are essentially looking for reliability in terms of a good public transport system. If it is published that a train will...

Orders of the Day — London Regional Transport Bill (13 Mar 1996)

Mr Tim Smith: The service is not being given away. People in the present management are among the most enthusiastic about privatising services.

Orders of the Day — London Regional Transport Bill (13 Mar 1996)

Mr Tim Smith: Of course—they know that they can provide an even better service if the shackles of public ownership are removed from them. I have discussed with Mr. Adrian Shooter, managing director of the Chiltern line, his plans for privatisation. The investment has been a success and we have a better service, but let us not be complacent about this. There is always room for improvement. On the...

Orders of the Day — London Regional Transport Bill (13 Mar 1996)

Mr Tim Smith: I said no such thing. I said that, generally, since nationalisation, British Rail's history had been disastrous and most people would agree with that. In many ways, the Chiltern line is an exception to that rule. [MN. MEMBERS: "Ah."] It is. Not many hon. Members can say perhaps, as I can, that most of the customers of the line in their constituency are satisfied with the service....

Orders of the Day — London Regional Transport Bill (13 Mar 1996)

Mr Tim Smith: It most certainly is. That is one of the reasons why there has been some delay. Some critics of the PFI have said that it is not moving along quickly enough. I sympathise with that view and with the construction companies that have been expressing it, but the PFI is new and it is extremely important that the Government should ensure, as my hon. Friend says, that risk is fully transferred to...

Orders of the Day — London Regional Transport Bill (13 Mar 1996)

Mr Tim Smith: I can confirm that only last week I received a letter from the chairman of the South Buckinghamshire NHS trust telling me that he was making good progress and that the project was on track. As it is one of the first PFI contracts in the health service, he is leading the way and he is having to ensure that he gets it right. As my hon. Friend the Member for Croydon, North-East would say, the...

Orders of the Day — London Regional Transport Bill (13 Mar 1996)

Mr Tim Smith: I am sure that the speech of my hon. Friend the Minister was a tour de force. Would not it have been a tour d'horizon if he had covered all the underground stations?

Orders of the Day — London Regional Transport Bill (13 Mar 1996)

Mr Tim Smith: Is my hon. and learned Friend aware that according to the Evening Standard of 5 March, Jimmy Knapp, the leader of the Rail, Maritime and Transport Union, called the Bill privatisation by the back door? Does my hon. and learned Friend think that Mr. Knapp may have drafted the Labour party's amendment?


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