I will not give way, because some of the points being made by Opposition Members are wholly ridiculous.
Fourthly, Conservative Members have clearly forgotten the action that they took in February 1985, when they changed the tax treatment of gilts. When the decision was taken, the Bank of England said that it could not possibly trade in the gilts market if it knew that that tax change was forthcoming, so it could not possibly wait until the Budget. A press notice was issued at 7 o’clock in the morning, before the gilts market opened, so there were certainly no Budget resolutions on that occasion.
Finance Bill
Proceeding contribution from
Helen Goodman
(Labour)
in the House of Commons on Tuesday, 1 May 2007.
It occurred during Debate on bills
and
Committee of the Whole House (HC) on Finance Bill.
Type
Proceeding contribution
Reference
459 c1420 
Session
2006-07
Chamber / Committee
House of Commons chamber
Subjects
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Timestamp
2023-12-15 12:01:29 +0000
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