Downing Street Says » Finance Bill

Asked if the Prime Minister was happy that he had the 10p tax compensation package right, the Prime Minister’s Spokesman (PMS) replied that the Chancellor had set out the plans to help those affected by the abolition of the 10p tax band, as well as other low and middle income tax payers, in his statement about a month ago. He set out plans for this fiscal year, and said that in relation to measures for future fiscal years, these would be outlined in the Pre-Budget Report (PBR) – and that was where we stood.

Asked if this meant that the Chancellor did not see the need for any more changes, the PMS referred people to what the Chancellor said in his statement a month ago, that in future years our aim was to continue the same level of support for those on lower incomes and he would be bringing forward proposals to do so in the PBR.

Put that the point that Labour MPs who put down this clause were making was that the PBR was too late, and something need to be done now, the PMS replied that we had acted in relation to this year, and backdated that until the fiscal year. The next fiscal year did not start until next April, and measures relating to the next fiscal year would be set out in the PBR in the autumn.

Put that the amendment related to those who were not compensated, the PMS replied that we had set out our proposals for this year, which covered the losses of 80% of those affected, and halved the loses for the remaining 20%. Proposals for future years would be set out in the PBR.

Put that the remaining 20% would have to put up with this until next year, the PMS replied that we were saying that we had set out our proposals for this year, and the Chancellor set out what we were saying about future years in his statement to the House, which was a matter for the PBR.

Asked if we were saying that people had to "lump it" that the Chancellor was not going any further this year, the PMS replied that we had set out our proposals for this year in a package that cost £2.7billion and which would benefit to the tune of £120, 22 million basic rate tax payers.

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» Monday, June 30, 2008

Finance Bill

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