Finance Bill

Lindsay Hoyle Excerpts

Thursday 15th July 2010 Commons Chamber

[Mr Chope]

On a point of order, Mr Hoyle. It seems as though right hon. and hon. Members in the Opposition did not realise that it was open to them to object to the withdrawal of an amendment if they wished to vote on it.

[The Chairman of Ways and Means (Mr Lindsay Hoyle)]

It is too late to object now, so let us proceed.

Clause 4 ordered to stand part of the Bill.



Clause 5

Power to repeal high income excess relief charge

[Ms Angela Eagle (Wallasey) (Lab)]

I beg to move amendment 60, page 3, line 9, at end add—

‘(4) An order under this section may only be made once the Treasury has published a report, including—

(a) the outline for the proposed replacement arrangement for the provisions contained in Schedule 2 to the Finance Act 2010;

(b) a distributional analysis showing the likely impact of the proposed replacement arrangement; and

(c) the revenue implications of the proposed replacement arrangement.’.

[The Chairman]

With this it will be convenient to discuss clause stand part.

[Ms Eagle]

The amendment seeks to delay the making of any order under clause 5 until the Treasury has published a report that outlines the proposed replacement for the provisions in section 23 of, and schedule 2 to, the Finance Act 2010, a distributional analysis of the impact of the proposed arrangement and the revenue implications of the replacement provisions themselves. Clause 5 creates a power to remove the paving legislation that would have enabled the so-called high income excess relief charge to be levied in time to be collected in April 2011. That was legislated for in section 23 of, and schedule 2 to, what I suppose we must now call the first Finance Act of 2010, given that we look to be on course to pass three of them this year. I never thought that I would be comparing Finance Acts to buses—none come along for ages and then three come along at once—but it looks like 2010 is going to demonstrate the similarity. We are only in the middle of discussing Finance Bill issues in this Session, and obviously we will resume with part two later in the year.