Finance Bill

Debate between Catherine McKinnell and Geoffrey Robinson

Wednesday 2nd July 2014 Commons Chamber

[Charlie Elphicke]

Will the hon. Lady rule out an increase in corporation tax under the next Labour Government, should one ever be elected—yes or no?

[Mr Geoffrey Robinson (Coventry North West) (Lab)]

We are not discussing that.

[Catherine McKinnell]

My hon. Friend makes a fair point: that is not what we are discussing. However, I am interested to know whether the hon. Gentleman will rule out slashing the annual investment allowance with no notice if the Conservatives are re-elected in 2015. Will he confirm that—yes or no?

--- Later in debate ---

[Catherine McKinnell]

Thank you, Madam Deputy Speaker, for your sage guidance. I agree that the Minister appears to be diverting the discussion away from the issue of concern: the Government’s approach to the annual investment allowance, which is the subject of the new clause. It calls for a review of the impact of the Government’s decisions on the allowance. He seems very reluctant to address that issue.

[Mr Robinson]

Strictly on the annual investment allowance, is my hon. Friend not absolutely on the button when she says that the question under discussion is not corporation tax or anything of the kind, but rather the AIA and the strictly temporary nature of the Government’s increase and extension of it? Will the Government commit to extending the AIA beyond the election, or is this just another election ploy?