Richard Fuller
Main Page: Richard Fuller (Conservative - North Bedfordshire)Department Debates - View all Richard Fuller's debates with the HM Treasury
(14 years ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Speaker
Order. The hon. Gentleman is to resume his seat. He has come in on the wrong question I am afraid; we are talking about bank bonuses.
Richard Fuller (Bedford) (Con)
While the Minister reviews the undoubtedly well-stuffed stockings of certain bankers to determine whether they have been naughty or nice, will he acknowledge the significant amount of tax that they pay, and the institutions that choose London as their domain? Will he recognise that, as far as their choice of domain is concerned, the airports of this country will not always be closed?
Mr Hoban
My hon. Friend makes an important point. At the time of the spending review the Chancellor made it very clear that we want banks to pay the maximum sustainable tax. That is why on 1 January we will introduce a bank levy, which the Opposition rejected when they were in government. That levy will raise £2.5 billion more than the net amount raised by their bonus tax.