UK Parliament / Open data

Finance (No. 2) Bill

Proceeding contribution from Lucy Frazer (Conservative) in the House of Commons on Tuesday, 16 November 2021. It occurred during Debate on bills on Finance (No. 2) Bill.

I will just carry on to my next point, which is that there will be an increase in the social care budget in the spending review period.

A fairer tax system also means tackling those who avoid paying their share. A new economic crime levy will help to fund measures that will prevent criminals from laundering money in the UK. It will apply to about 4,000 businesses and bring in £100 million. The Bill also contains tougher measures to prevent promoters from marketing tax avoidance schemes. In addition, it includes sanctions to tackle tobacco duty evasion, which costs the Exchequer an estimated £2.3 billion a year. The Bill also clamps down on electronic sales suppression, a form of tax evasion in which a business deliberately manipulates its electronic sales records to reduce its recorded turnover and corresponding tax liabilities.

Type
Proceeding contribution
Reference
703 c495 
Session
2021-22
Chamber / Committee
House of Commons chamber
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