Business of the House

Jonathan Reynolds Excerpts

Thursday 22nd March 2012 Commons Chamber

[Sir George Young]

I hear what my hon. Friend says. We are, of course, having a debate on the Budget. My right hon. Friend the Chancellor made clear his views on tax evasion and what he called “aggressive tax avoidance”. I am sure that it would be in order to talk about the tax loopholes that are being closed by the Government during the Budget debate, as long as one remains within order.

[Jonathan Reynolds (Stalybridge and Hyde) (Lab/Co-op)]

May we have a Government statement to clear up the confusion about the cut to the top rate of income tax? A study published during the Budget suggests that it will cost the country billions of pounds if the Government’s assumptions are incorrect. If we are going to clear that up, perhaps the Leader of the House will also accept the suggestion of the shadow Leader of the House that he may wish to put in the Library a list of the Cabinet members who will benefit personally from this give-away, so that we can see from where the motivation for it might have come.

[Sir George Young]

This country has never adopted the practice that they have in the United States, whereby all those who stand for public office have to file their tax returns. If that is the hon. Gentleman’s proposition, I am sure that he can make the case during the Budget debate, but it is not our intention to introduce it. On the 50p tax rate, I just make the case that for 13 years, the Labour party did not introduce a 50p rate of tax. It left it to us, along with a letter saying that no money was left in the Treasury.