Treasury

Lucy Frazer Excerpts

Monday 6th December 2021 Ministerial Corrections

The following is an extract from the debate on the Finance (No. 2) Bill on 1 December 2021.

[Lucy Frazer]

The hon. Gentleman also mentioned the loan charge and asked for a review. He will have heard in my speech and will know that we had a review less than two years ago. I know that this is an issue that concerns many Members. We did legislate as a result of that. We legislated on 3 December 2020. As a result of the review, 30,000 individuals benefited. In fact, 11,000 were removed from the loan charge.

[Official Report, 1 December 2021, Vol. 704, c. 1000.]

Letter of correction from the Financial Secretary to the Treasury, the right hon. and learned Member for South East Cambridgeshire (Lucy Frazer).

Errors have been identified in my response to the hon. Member for Ealing North (James Murray).

The correct response should have been:

[Lucy Frazer]

The hon. Gentleman also mentioned the loan charge and asked for a review. He will have heard in my speech and will know that we had a review less than two years ago. I know that this is an issue that concerns many Members. We did legislate as a result of that. We reported on how we implemented these changes on 3 December 2020. As a result of the review, an estimated 30,000 individuals benefited. In fact, an estimated 11,000 were removed from the loan charge.