The Economic Crime (Transparency and Enforcement) Bill - Clause 314 - Deposit schemes

The clause is designed to encourage the collection of used plastic beverage containers through a deposit scheme. This approach has been successful in other countries in reducing litter, increasing recycling rates, and decreasing carbon emissions.

During an intervention, Stewart Hosie questioned why certain clauses were necessary to be removed from the Investigatory Powers Act in order for them to function as intended. He was critical of proposed amendments that aim to delete subparagraphs from earlier legislation.

While agreeing with James Murray's concern about the pension cut being a blanket change, she clarified her previous statement as a pleasant surprise rather than endorsement.

He questioned the complexity of creating specific pension regimes for different public sector roles like NHS doctors, suggesting it could lead to a complex and rats' nest of schemes.

Asked James Murray to reconcile his arguments against air passenger duty with the Welsh Government's stance supporting its abolition for Cardiff Airport, highlighting local interests over national policy.

He emphasised that the money being discussed is already taxpayer-funded and should not be further taxed. He supports pensioners having enough to live off without state support.

Asked if proposed changes to non-dom status would cause high spenders to leave the UK, leading to a loss of VAT and other taxes.

Referenced an IPPR report suggesting the UK is in an economic growth 'doom loop' due to underinvestment. He linked this to lack of confidence in Government's strategy for business investment and tax policies.

Agrees with the need for tax simplification but raises concerns that complexity can lead to gaming of the system by accountants and tax planners, necessitating measures like general anti-avoidance rules.

Acknowledges ignorance about tax affairs and suggests that attempts to simplify the system might lead to even more complexity.

Commits to writing an annual report on simplification efforts, addressing the Treasury Committee's concerns about accountability and transparency in tax policy implementation.

Supports the need for concrete examples of tax simplification in any reports submitted to the Treasury Committee, as real-world evidence is crucial for assessing progress and effectiveness.

Ms. Abrahams highlights overwhelming evidence linking socioeconomic inequalities to health outcomes, citing specific examples such as lower life expectancy in Oldham compared to Surrey. She emphasises the need for transparency in assessing the Finance Act's impact on health and inequality, referencing substantial budget cuts in deprived areas versus affluent ones.

Mr. Rodda interjected to support Ms. Abrahams, agreeing that the socioeconomic inequalities she described also extend to other fields such as housing and food quality.

Congratulates Priti Patel on amendment 20, questioning American views on the global minimum tax and highlighting business certainty concerns.

Questions whether it is fair to treat oil and gas production differently from renewable energy investment, suggesting support for Liberal Democrat amendments to encourage renewable energy projects.

Supports the amendment as a compromise allowing more time for careful consideration. Asks about assurances secured from the Government and whether the amendment will be pressed.

Mr. Stewart Hosie criticises the decision to remove the cap on lifetime pension allowances, stating it will benefit a tiny number of already comfortably off people and not those in need. He raises concerns about inflationary impacts of Brexit and suggests that if the measure was designed to assist doctors, the government should have come up with a narrower solution. Additionally, he supports amendments 1-6 which seek to review alternatives to the abolition.

Supports simplifying the duty rate system for pubs but opposes clause 52 as it introduces a new complexity with a higher tax rate for off-premises consumption. He raises concerns about the feasibility of collecting this duty, citing market examples where people take beer home in decanters. He proposes re-engaging with the industry to find an easier solution.

Mr. Mills argues that the current tax system is overly complex and needs simplification. He supports the global minimum corporate tax as a solution to base erosion and profit shifting, despite acknowledging its complexity. He suggests extending the transitional regime for three years to ease compliance burdens.

Defends the government's approach to tax simplification by detailing measures such as annual investment allowance, simplifying share option granting process under enterprise management incentive schemes, and plans for customs import and export processes. She also emphasises the importance of practical simplification measures like expanding the cash basis.

Intervened to clarify if simplifying cliff edges will be included in the assessment, addressing concerns about disincentives to invest and work.

The Labour Party feels that the bill misses an opportunity to make the tax system fairer, prioritising benefits for wealthy individuals and failing to address issues like windfall taxes and non-dom status. It does not provide enough support for businesses and families in need of a credible plan for economic growth.

The bill lacks substantial immediate cost-of-living support and growth initiatives, despite the Government's rhetoric. There is little hope that it will deliver on its promises of investment and growth.