Finance Bill

Debate between Stewart Hosie and Gavin Williamson

Monday 12th July 2010 Commons Chamber

[Stewart Hosie]

The case for a simple tax regime is well made. Had the Government abandoned capital allowances and the annual investment allowance, that would have been simpler, but instead they just reduced and changed them. Can the hon. Gentleman explain how that simplifies the tax code in the way that he has described, rather than otherwise?

[Gavin Williamson]

I am obviously far below the pay grade of my hon. Friends on the Front Bench, but I am sure that they have great plans to make the tax system much fairer and more equal, right across the board.

One important thing that my hon. Friends have done is reduce corporation tax, which will help so many businesses. Most importantly, they have helped small businesses—it is often small businesses that have had the most difficult time over the past few years—which is something that I warmly welcome.