Session 2014 - 15
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21

 

House of Commons

 
 

Tuesday 10 June 2014

 

Public Bill Committee Proceedings

 

Finance Bill


 

(Except Clauses 1, 5 to 7, 11, 72 to 74 and 112; Schedule 1; and certain new Clauses and new


 

Schedules.)


 

[Tenth and Eleventh Sittings]


 

Ed Balls

 

Chris Leslie

 

Shabana Mahmood

 

Cathy Jamieson

 

Catherine McKinnell

 

Withdrawn  15

 

Clause  68,  page  58,  line  40,  at end insert—

 

“( )    

The Chancellor of the Exchequer shall, within six months of the passing of this

 

Act, publish and lay before the House of Commons a report setting out the

 

impact, over the next three years, of the changes made to the Corporation Tax Act

 

2009 and the Income Tax (Trading and Other Income) Act 2005 by Schedule 13.

 

( )    

The report must in particular set out—

 

(a)    

how much additional tax revenue the measures introduced by this section

 

are expected to generate to the UK Exchequer, for each year in which

 

they are in operation; and

 

(b)    

the impact of those measures on revenues lost to the Exchequer as a

 

consequence of tax avoidance schemes for each year in which they are in

 

operation.”

 

Clause Agreed to.

 

Schedule 13 Agreed to.

 

Clauses 69 and 70 Agreed to.

 


 

Amber Rudd

 

Agreed to  

 


 

That the Order of the Committee of 29 April be amended as follows—

 

            In paragraph (1)(g), leave out the words “11.30 a.m and”


 
 

Public Bill Committee Proceedings: 10 June 2014            

22

 

Finance Bill, continued

 
 

Ed Balls

 

Chris Leslie

 

Cathy Jamieson

 

Catherine McKinnell

 

Shabana Mahmood

 

Withdrawn  24

 

Clause  71,  page  61,  line  2,  at end insert—

 

“(3)    

The Chancellor of the Exchequer shall, within six months of this Act receiving

 

Royal Assent, publish a report on levels of revenue from the rates set out in this

 

section.

 

(4)    

The report referred to in subsection (3) above must in particular examine—

 

(a)    

changes in revenue due to illicit market share,

 

(b)    

action to mitigate any such changes in revenue.

 

(5)    

The Chancellor of the Exchequer must publish the report of the review and lay

 

the report before the House.”

 

Clause 71 Agreed to.

 

Clauses 75 to 80 Agreed to.

 

Schedule 14 Agreed to.

 

Clauses 81 to 85 Agreed to.

 

Schedule 15 Agreed to.

 

Clauses 86 to 91 Agreed to.

 


 

Ed Balls

 

Chris Leslie

 

Cathy Jamieson

 

Catherine McKinnell

 

Shabana Mahmood

 

Negatived on division  25

 

Clause  92,  page  84,  line  16,  at end insert—

 

“(3)    

The section shall not come into force except as specified in subsection (2) below.

 

(1)    

The Chancellor of the Exchequer shall bring the section into force by

 

order within six months of the passing of this Act.

 

(2)    

A statutory instrument containing an order under subsection (3) shall be

 

accompanied by a report which details—

 

(a)    

the impact of the provisions in the section on consumers and on

 

fuel poverty;

 

(b)    

the impact of the provisions in the section on energy-intensive

 

industries and on employment in those industries;

 

(c)    

the level of carbon leakage in the energy-intensive industry as a

 

result of the provisions in this section;

 

(d)    

the effect of the provisions in the section on investment in new

 

renewable power generation and on investment in new nuclear

 

power generation;


 
 

Public Bill Committee Proceedings: 10 June 2014            

23

 

Finance Bill, continued

 
 

(e)    

any effective subsidy provided to, or additional profits accruing

 

to, operators of existing and new nuclear power stations as a

 

result of the provisions in the section;

 

(f)    

what additional package of measures will be enacted to mitigate

 

the impact of the section on energy-intensive industries;

 

(g)    

the impact on business investment of—

 

(i)    

changes to Schedule 6 to the Finance Act 2000 made by

 

Finance Act 2011;

 

(ii)    

changes to Schedule 6 to the Finance Act 2000 made by

 

this Act.”

 

Clause Agreed to.

 

Clauses 93 Agreed to.

 

Schedules 16 Agreed to.

 

Clauses 94 to 100 Agreed to.

 

Schedule 18 Agreed to.

 

Clauses 101 to 106 Agreed to.

 

Schedule 19 Agreed to.

 


 

Ed Balls

 

Chris Leslie

 

Cathy Jamieson

 

Catherine McKinnell

 

Shabana Mahmood

 

Negatived on division  26

 

Clause  107,  page  90,  line  33,  at end insert—

 

“(5A)    

The Chancellor of the Exchequer shall, within six months of this Act receiving

 

Royal Assent, publish and lay before the House of Commons a report setting out

 

the impact of changes made to Schedule 19 of the Finance Act 1999 by this

 

section.

 

(5B)    

The report referred to in subsection (5A) must in particular consider—

 

(a)    

the impact on tax revenues;

 

(b)    

the expected beneficiaries; and

 

(c)    

a distributional analysis of the beneficiaries.”

 

Clause Agreed to.

 

Clause 108 Agreed to.

 

Schedule 20 Agreed to.

 

Clauses 109 and 110 Agreed to.

 

Schedule 21 Agreed to.


 
 

Public Bill Committee Proceedings: 10 June 2014            

24

 

Finance Bill, continued

 
 

Clause 111 Agreed to.

 


 

Ed Balls

 

Chris Leslie

 

Cathy Jamieson

 

Catherine McKinnell

 

Shabana Mahmood

 

Negatived on division  27

 

Clause  113,  page  94,  line  2,  at end insert—

 

“(1)    

Before bringing forward any further changes to the bank levy rates system the

 

Chancellor shall lay before Parliament a report setting out the impact of all tax

 

changes applying to banks since 2010 on—

 

(a)    

UK banking groups;

 

(b)    

building society groups;

 

(c)    

foreign banking groups; and

 

(d)    

relevant non-banking groups.

 

(2)    

The report will pay particular attention to receipts from—

 

(a)    

corporation tax;

 

(b)    

the bank levy, and

 

(c)    

bank payroll tax.”

 

Clause 113 Agreed to.

 

Schedule 22 Agreed to.

 

Clause 114 to 116 Agreed to.

 


 

Ed Balls

 

Chris Leslie

 

Cathy Jamieson

 

Catherine McKinnell

 

Shabana Mahmood

 

Negatived on division  52

 

Clause  117,  page  96,  line  7,  at end insert—

 

“(7)    

The Chancellor of the Exchequer shall, within three months of Royal Assent,

 

undertake a review of the impact of the higher rate of machine games duty

 

introduced under this section.

 

(8)    

The report referred to in subsection (1) above must in particular examine the

 

impact of the higher rate on—

 

(a)    

the net profitability of category B2 gaming machines compared with

 

other categories;

 

(b)    

the prevalence of category B2 machines;

 

(c)    

the usage of category B2 games compared with other category games;

 

(d)    

the number and prevalence of betting shops on high streets; and

 

(e)    

problem gambling as a result of category B2 games.


 
 

Public Bill Committee Proceedings: 10 June 2014            

25

 

Finance Bill, continued

 
 

(9)    

The Chancellor of the Exchequer must publish the report of the review and lay

 

the report before the House.”

 

Clause 117 Agreed to.

 

[Adjourned until Thursday at 2.00 pm


 
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