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Finance Bill Debates

 
Alan Dolton editor of Tolley's Tax Cases summarises the Second Reading debate on the Finance Bill
 
The House of Commons began considering the 2009 Finance Bill on Wednesday 6 May (just over two weeks later than last year). The Chief Secretary to the Treasury (Yvette Cooper) moved the Second Reading of the Bill. She commented:
 
'This year's Finance Bill comes as the world economy is shrinking for the first time in peacetime since 1932. It is the first time ever that five of the biggest banks in the world have had to be rescued by their national Governments. That is the scale of the international challenge we are facing.' (Col 178)
 
She defended the increases in income tax for higher earners explaining:
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