Mark Pack

A taxing mystery from yesterday in Parliament

By | Tue 13th July 2010 - 10:29 pm

Liberal Democrat MP Julian Huppert tweeted yesterday:

In chamber listening to Finance Bill debate. Labour trying to reduce (!) capital gains rate from 28% to 25%. No, I don’t understand why!

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8 Comments

  • David Boothroyd 14th Jul '10 - 12:02am

    As was explained by Stephen Timms in moving the amendment, it was a probing amendment to inquire about the processes which led the Government to choose to set the rate of CGT at 28%. I know Mr Huppert is a new MP but I would have thought he was knowledgable enough to know what a probing amendment is.

  • Chris Stanbra 14th Jul '10 - 7:39am

    Its a high risk probing amendment then. Labour’s opponents can now say they wanted a lower rate of CGT and sought to amend the budget accordingly.

  • Andrea Gill 14th Jul '10 - 9:46am

    @James Graham: http://www.publications.parliament.uk/pa/cm201011/cmhansrd/cm100712/debtext/100712-0003.htm 9:30 pm

  • Stuart Mitchell 14th Jul '10 - 11:21am

    Chris: “Labour’s opponents can now say they wanted a lower rate of CGT”

    But since Timms stated clearly that “we will not vote… for the lower figure proposed in the three amendments”, anybody who knew this yet claimed or implied that Labour wanted a lower rate of CGT would be extremely dishonest, wouldn’t they?

  • Terry Gilbert 14th Jul '10 - 12:24pm

    A more important mystery is why so many Liberal Democrats felt Andrew George’s sensible amendment requesting an impact assessment of the VAT rise was unacceptable.

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