Loan Charge

John Bercow Excerpts

Thursday 11th April 2019 Commons Chamber

That this House expresses its serious concern at the 2019 Loan Charge which applies from 5 April 2019; expresses deep concern and regret about the effect of the mental and emotional impact on people facing the Loan Charge; is further concerned about suicides of people facing the Loan Charge and the identified suicide risk, which was reported to HMRC; believes that the Loan Charge is fundamentally unfair and undermines the principle of the rule of law by overriding statutory taxpayer protections; expresses disappointment at the lack of notice served by HMRC and the delays in communication with those now facing the Loan Charge, which has further increased anxiety of individuals and families; is concerned about the nature and accuracy of the information circulated by HMRC with regard to the Loan Charge; further regrets the inadequate impact assessment originally conducted; understands that many individuals have received miscalculated settlement information; calls for an immediate suspension of the Loan Charge for a period of six months and for all related settlements to be put on hold; and further calls for an independent inquiry into the Loan Charge to be conducted by a party that is not connected with either the Government or HMRC.

[Mr Speaker]

We now come to the resumed debate, which was sadly interrupted by the rather well-publicised leak last week, on the motion on the introduction of the 2019 loan charge. Justin Madders had just concluded his oration when the debate was suspended last Thursday—something I am sure all colleagues recall very keenly—therefore I think I am right in saying that the next person to speak in this debate is Mr Stephen Metcalfe.