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Financial Bill Debates

Alan Dolton Editor of Tolley's Tax Cases continues our coverage of the Public Bill Committee debates on the Finance Bill
Insurance and friendly societies
Clause 37 (insurance companies: gross roll-up business) was quickly agreed enabling the Committee to turn to the detailed provisions of Schedule 7. This saw nine Government amendments. The Economic Secretary (Ed Balls) explained that they arose 'as a result of representations made by the insurance industry' (Col 301). Challenged by Conservative spokesman Mark Hoban (Fareham) he gave a more detailed explanation:
'Amendment No. 129 is a good example of the openness and trust between the industry and the Government that has been built up during the course of this major...

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