"It is of course important that we have penalties appropriate to the provisions in any legislation. The hon. Gentleman will know that we are looking very carefully at the issue of beneficial ownership. He also asked about a wealth tax; there is no current intention to bring in any wealth …..." Lucy Frazer - View Speech
"In line with the tax policy making framework, the Government are publishing draft legislation ahead of potential inclusion in Finance Bill 2022-23. This allows for technical consultation and provides taxpayers with predictability over future tax policy changes. Alongside this, the Government are making announcements in a small number of technical …..." Lucy Frazer - View Speech
"It is a pleasure to close this important debate on behalf of the Government. We have talked today about the context of the Bill: the high oil and gas prices, and the extraordinary profits that are being received by the industry while working people struggle with the cost of living. …..." Lucy Frazer - View Speech
"The hon. Member makes an important point, because we value the investment and work that is going on in Scotland in the oil and gas sector and in renewables. He knows that, because I and Ministers from the Department for Business, Energy and Industrial Strategy have stood at this Dispatch …..." Lucy Frazer - View Speech
"As I have just said in responding to the hon. Gentleman’s earlier point, the former Chancellor said that that “gives you a sense”, and I too am happy to relay that sense of where the prices would be, but we also have the long-stop date, which should give the industry …..." Lucy Frazer - View Speech
"Thank you very much, Mr Chair. I open this debate by reminding the Committee of the purpose of the energy profits levy. The levy is a temporary 25% surcharge on extraordinary profits being made by the oil and gas sector as a result of the substantial rise in energy prices …..." Lucy Frazer - View Speech
"I have read amendment 9 and will address it in due course. In response to the hon. Gentleman’s point, that will be included in guidance. I said it at the Dispatch Box last week, and my right hon. Friend the Chief Secretary to the Treasury has also said it at …..." Lucy Frazer - View Speech
"Many of the points that have been raised in Committee were considered on Second Reading, but I would like to touch on a few of them and then deal with amendments.
The hon. Member for Ealing North (James Murray) asked how the new investment allowance works. On 6 June, I …..." Lucy Frazer - View Speech
"It is a pleasure to respond to this debate and I congratulate my right hon. Friend the Member for Vale of Glamorgan (Alun Cairns) on securing it. It has been good to hear from hon. Members across the House and from the chairs and members of very important all-party groups …..." Lucy Frazer - View Speech