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Proceeding contribution from George Osborne (Conservative) in the House of Commons on Wednesday, 21 March 2012. It occurred during Ministerial statement on Financial Statement.

Financial Statement

I am coming on to the OBR, don't you worry. The HMRC figures tell the story. The direct cost is only £100 million a year. Indeed, HMRC calculates that the loss of other tax revenues may even cancel that out. In other words, it raises at most a fraction of what we were told, and may raise nothing at all. So from April next year, the top rate of tax will be 45p. No Chancellor can justify a tax rate—[Interruption.]

Secondary information

Type
Proceeding contribution
Reference
542 c805 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
Disclosure of information Child benefit Alcoholic drinks Corporation tax Collective bargaining Allowances Airports Broadband Housing Eligibility Gambling Income tax Film Energy Excise duties Fuels Fiscal policy Economic situation Drinks Inflation Government securities Forecasts Pensioners Pay Planning Public sector Public expenditure Railways Pension funds Offshore industry Sales Reform Tax allowances Tax avoidance Taxation VAT Video games Tobacco Sunday trading Stamp duties Tax rates and bands Royal Mail Taxpayers Take-away food Afghanistan Foreign investment in UK Stamp duty land tax Research and development tax credit Loan guarantee scheme Contingency reserve Office for Budget Responsibility Growing Places Fund Budget March 2012
Link
View this Proceeding contribution on www.publications.parliament.uk