Oral Answers to Questions

Nick Harvey Excerpts

Wednesday 22nd October 2014 Commons Chamber

[The Prime Minister]

What I want to see is, obviously, a robust regulatory and environmental permissions regime, which I believe we have. I also want us to get on with recovering unconventional gas because I think the greatest proof of how safe this technology is and how good it could be for jobs and energy costs in our country is to demonstrate where it is actually working in some wells. My fear is that many in the other place, and indeed in this place, want to cover this new industry with regulation so that it simply does not go ahead.

[Sir Nick Harvey (North Devon) (LD)]

The Prime Minister will recall that film tax relief existed as a legitimate Government tax policy for 10 years from 1997. Is he aware that Her Majesty’s Revenue and Customs is now effectively treating all investors from that period as tax dodgers, even those who produced genuine films and created jobs, as intended? Will he instruct Treasury Ministers to review that approach and meet a cross-party delegation of concerned MPs?

[The Prime Minister]

I am sure that we have all had constituency and other e-mails and casework about this, but I have to say that every time I ask the Treasury about it, it is very clear that the things that are being investigated are abuses and were known to be abuses at the time when people entered into them. I want low tax rates, but tax rates that people actually pay; and where schemes are being used for avoidance, we should be very swift in closing them down.