Clause 55 - Overview

Part of Finance Bill – in a Public Bill Committee am 11:00 am ar 19 Mehefin 2012.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of John Mann John Mann Llafur, Bassetlaw 11:00, 19 Mehefin 2012

Thank you for that information, Mr Bone.

On the question of unintended consequences, if we think back to the last Finance Bill, we may recall what happened when the draw-down pension issue failed to be identified. Some 300,000 pensioners across the country are now losing, in the case of my constituents, 60% of their pension, not because the Government wanted to victimise those hard-working, successful business people who had invested in private pensions, but because, somehow, changes sneaked into the Finance Bill had unintended consequences. Someone, doubtless a mandarin in the Treasury, got it wrong. One can forgive Ministers for not being on top of every minute detail. Looking at the level of detail in these clauses, one does not envy Ministers who are attempting to understand every jot and tittle.