Finance Bill

John Hemming Excerpts

Monday 2nd July 2012 Commons Chamber

[Mr Gauke]

To be fair, that is not what my hon. Friend said, although I did not agree with everything that he did say on that issue. I shall take this opportunity to say a word or so about avoidance, because the Government are keen to address that.

[John Hemming (Birmingham, Yardley) (LD)]

rose—

[Mr Gauke]

Before I do that, I give way to my hon. Friend.

[John Hemming]

I am a Government Back Bencher who is not massively enthusiastic about the reduction in the top rate; I think that the Laffer curve peak would be at a higher rate than is thought. However, will the Minister comment on the fact that the Labour party seems to have forgotten that it did nothing to close the transparent fiddles, which are so resented, when people have paid 1% or 2% in tax? Those transparent fiddles have been around for years and Labour did nothing to close those gaps.