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Finance Bill Debates

Alan Dolton Editor of Tolley's Tax Cases summarises the second day of the Committee of the Whole House debate on the Finance Bill
The House of Commons Committee of the Whole House continued its discussion of the selected clauses of the Finance Bill on Tuesday 1 May. It began with Clause 67 (abolition of contributions relief for life assurance premium contributions). The Economic Secretary (Ed Balls) explained:
'Clause 67 relates to changes to the relief available to individuals for their pension contributions that are used to fund personal term assurance policies and it also introduces Schedule 18 of the Bill.' (Col 1384.)
Conservative spokesman Mark Hoban (Fareham) responded:
'… clause 67 abolishes pension term assurance which was introduced...

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