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The Public Bill Committee starts its review of the Finance Bill. RICHARD CURTIS reports
KEY POINTS
- Proposals to reduce the basic rate of tax
- Increasing personal allowances for the over 65s
- The 10% savings rate
- Reduced main rate of corporation tax
Well here we are again. Another year has flowed under Westminster Bridge and this year's Finance Bill is now in its committee stage.
This year it is considered by a public bill committee rather than the standing order committee of previous years; but other than that it's business as usual — pagers and mobile phones to be turned off and jackets may be removed if Members so wish.
After the normal greetings warnings about phones queries over the running order and pleasantries the first session started with a Liberal Democrat amendment put forward by Mr Jeremy Browne that the basic rate of income...
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