Finance Bill Debates

Standing Committee B resumed on Thursday 22 May discussing Clause 170 (life insurance etc: miscellaneous amendments). The Economic Secretary (John Healey) explained that the clause introduced Schedule 34 which contained measures to 'provide new exemptions while correcting some anomalies and closing some loopholes'.

Conservative spokesman Howard Flight proposed a number of amendments to Schedule 34. The Economic Secretary explained that one of these would 'extend the scope of the exclusion to group policies providing for payment to partnerships on the death of the individual partners'.

Howard Flight pressed the amendment to a vote and it was duly defeated by 16 votes to 7. The remaining...