HC Deb 21 June 1989 vol 155 cc441-2

Motion made, and Question proposed, That provision may be made about the treatment, in determining chargeable gains or allowable losses, of transactions involving the holding of shares in, and securities of, companies by other companies.—[Mr. Brooke.]

10.36 pm
Mr. A. J. Beith (Berwick-upon-Tweed)

The charitable view of these four ways and means resolutions is that they are a sign of the Government's flexibility and their welcome willingness to listen to representations. The uncharitable view is that they illustrate what a mess the Government are in over the Finance Bill. The Government have already voted down three clauses of their own Finance Bill and have had to delay the proceedings on other clauses in order to make time to rewrite other substantial sections of it.

I welcome the fact that the Government have listened to representations, but what they have done has strengthened the argument for having a separate technical Finance Bill in which complicated matters of this kind are dealt with and are the subject of widespread consultation before they are brought to the House, as have been some other parts of the Finance Bill. I hope that the Government will learn that lesson for the future.

Question put and agreed to.