Is there not a problem with the new proposal, in that it would not reimburse the people who lost out as a result of the abolition of the 10p tax rate, because it is not targeted in that way? The only way to reimburse those people is to reinstate the 10p tax rate. An advantage of the 10p rate was that people would go from paying no tax to paying 10p in the pound to paying 20p in the pound. The problem with this proposal is that they would go from paying no tax to paying 20p on the marginal rate.
Finance Bill
Proceeding contribution from
Peter Bone
(Conservative)
in the House of Commons on Tuesday, 7 July 2009.
It occurred during Debate on bills on Finance Bill.
Type
Proceeding contribution
Reference
495 c881 
Session
2008-09
Chamber / Committee
House of Commons chamber
Subjects
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Timestamp
2024-04-21 12:41:48 +0100
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