Loan Charge

Baroness Laing of Elderslie Excerpts

Thursday 11th April 2019 Commons Chamber

[Stephen Metcalfe]

rose—

[Madam Deputy Speaker (Dame Eleanor Laing)]

Order. Before the hon. Gentleman answers that point, I should explain to the House that we have less than 50 minutes left for this debate, for obvious reasons. He finds himself in the difficult position of being the opening speaker, as it were, and therefore he has been required to take a lot of interventions because people have short points that they want to make, but of course this debate had the bulk of its time last week, and I know from what people have told me that what they actually want to hear is the Minister’s reply to the many questions that were asked last week, and will be asked this week. There will therefore be a very short time limit on speeches—probably two minutes. The hon. Gentleman has been very generous in taking interventions, and I am sure he wants to finish the points that he would like to make. I have no objection to his taking further interventions, as long as the House realises that that will be the bulk of the debate.

[Stephen Metcalfe]

Madam Deputy Speaker, I hear what you say loud and clear, but I did want to allow Members to intervene because I think it allows them to get their points on the record.

The point that my right hon. Friend the Member for Sevenoaks (Sir Michael Fallon) raised is completely valid. We need to be throwing the net wider to recover some of this money.

I reiterate that my constituent acted only under advice from a chartered accountant, with tax counsel’s opinion, so although everyone has a duty to pay the tax they owe, this feels off. It feels like a retrospective tax grab. We know that it is causing great stress, anxiety and depression. We know that there have been three suicides associated with it. It cannot be right and surely we must have a duty to look at it again.

If I may, I shall quote my constituent, who says:

“Very simply, if the loan charge is not delayed, and comes in as it is, it will destroy my quality of life and that of my family. It may well prevent me from working and lead me into bankruptcy. It has already caused me to suffer extreme stress, and is causing huge anxiety for my family. If the Government ploughs on with this retrospective legislation, it will be responsible for devastating the lives of families across generations.”

I will leave it there.

Will the Minister seriously consider a delay in implementation and a removal of the retrospective nature of the charge, so that it certainly does not go back further than 2017, when the charges were first announced? I hope that he will build on the assurances that he has given Members who have written to him—I am very grateful for those reassurances—by finding other mitigating measures, so that we can demonstrate, as a House, that we can respond positively and that we are capable not only of listening to, but of hearing and acting upon, the words of the people who come to us, asking for our representation.

[Several hon. Members rose—]

[Madam Deputy Speaker (Dame Eleanor Laing)]

There will be an immediate time limit on speeches of three minutes.

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[Madam Deputy Speaker (Dame Eleanor Laing)]

Order. After the next speaker, the time limit will be reduced to two minutes.

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[Several hon. Members rose—]

[Madam Deputy Speaker (Dame Eleanor Laing)]

A two-minute time limit.

--- Later in debate ---

[Sir William Cash (Stone) (Con)]

On a point of order, Madam Deputy Speaker. I have in my hand the statutory instrument containing the regulations regarding the outcome of what I term the abject surrender that took place last night in Brussels. It was made at 3.15 pm today, and it was laid before Parliament at 4.15 pm—just three quarters of an hour ago. I raised some points earlier with the Speaker himself, which are on the record, and I just want to add to that by referring to the fact that we have a two-page explanatory memorandum for what is only about a six-line statutory instrument—for very good reason—and it includes, for example, reference to the commencement of section 1 of the European Union (Withdrawal) Act 2018. I just draw that to the attention of the House, because it is really important. It is essential that the public should know that this has been done. There are serious question marks over the legality of this, and there is likely to be a challenge in the courts, leading to the Supreme Court, on this issue.

[Madam Deputy Speaker (Dame Eleanor Laing)]

I thank the hon. Gentleman for his point of order. The House knows how assiduous he has been in recent weeks—well, in recent decades—in making sure that the legality, the constitutional position, the propriety, the timing and so on of any matters that pass through this House are properly dealt with. I appreciate the points that he is making in relation to this statutory instrument, which has been laid this afternoon, but he knows, as the House knows, that it is not a matter on which I can give him an answer from the Chair. However, he has, in his usual eloquent way, drawn the matter to the attention of the House, of the Government and of the world in general. I thank him.