§ Order for Second Reading read.10.14 pm
§ The Solicitor-General (Mr. Peter Archer)
I beg to move, That the Bill be now read a Second time.
The Bill consolidates provisions relating to capital gains tax in the Finance Act 1965, in subsequent Finance Acts and in the Income and Corporation Taxes Act 1970. The Bill is pure consolidation and makes no changes in the present law. However, an opportunity has been taken to correct some small inconsistencies and obscurities in the existing legislation.
The Joint Committee on Consolidation Bills has examined the Bill with its usual exemplary thoroughness. It has become almost common form on these occasions to pay a tribute to the Committee's industry and learning, but that does not render it any less merited. In its report to this House the Committee was of the opinion that the Bill, as amended, was pure consolidation and represented the existing law. It adds that there is no point to which the attention of Parliament should be drawn.
The House may be relieved to hear that I propose to adopt that comforting counsel. If I may do so within the rules of order, may I spare the time of the House by saying that these remarks apply equally to the next two Bills?
§ 10.14 p.m.
§ Mr. Daniel Awdry (Chippenham)
I should like to thank the Solicitor-General for his very kindly remarks. I think that the Joint Committee on Consolidation Bills fulfils a very useful function, and I hope that its work will continue to flourish and expand.
It may save the time of the House if I confirm that this Bill is pure consolidation and that that also applies to all the other Bills before the House tonight. From the Opposition Front Bench, may I say that we welcome the Bills and that we have no objections to raise.
§ Question put and agreed to.
§ Bill accordingly read a Second time.
§ Bill committed to a Committee of the whole House.—[Mr. Joseph Dean.]
§ Bill immediately considered in Committee; reported, without amendment.
§ Motion made, and Question, That the Bill be now read the Third time, put forthwith pursuant to Standing Order No. 56 (Third Reading), and agreed to.
§ Bill accordingly read the Third time and passed, without amendment.