Final consideration

KEY POINTS

• The 50% tax rate – again.
• Mansion tax to pay for a 10% tax band?
• More anti-avoidance measures.
• Last minute look at the transfer of allowances.

The House of Commons and the House of Lords have the opportunity to debate the Finance Bill as amended in the public bill committee before it receives royal assent. As in 2012 two days were allocated to the House of Commons for its final scrutiny of the bill.

Opposition members called for the reintroduction of the 50% additional rate of income tax echoing last year’s equivalent debate when opposition members spent three hours discussing the 50% rate being cut to 45%.

Cathy Jamieson (Lab/Co-op) said:

“The reality is that as of this April 13 000 people earning more than £1m...