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Issue:
4498
/
Categories:
Comment & Analysis
, Admin
, Budget/Finance Act
, Companies
, Income Tax
, Policy
, VAT
The Commons debate of Finance (No 2) Bill 2015
KEY POINTS
- MPs debated the Finance (No 2) Bill over one day.
- New VAT relief for some charities.
- From 2016 there will be only one rate of corporation tax.
So now we know: all that it is required to pass a Finance Bill to Act is six-and-a-half hours of debate (I use that word advisedly) in the House of Commons.
Who needs the public bill committee to mull over various clauses and schedules for weeks on end when the whole house can do it in less time than a normal working day?
In mitigation to point out the obvious there was a general election around the corner so there was no time for the usual process and as David Gauke financial secretary to the Treasury pointed out:
“We have deliberately held a...
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