Finance Bill — 20 Apr 2004 at 19:33

I beg to move, That the Bill be now read a Second time.

The 2004 Budget set out the next steps of the Government's economic policy making by outlining what we would do to lock the hard-won progress that we have made into this country's economic stability and growth so that it endures, and to equip the country with the means with which to compete in a global knowledge-based economy. The Government have examined the challenges and pressures that face the nation now and will do so in future, and we are determined to take the right steps to meet those challenges.

I beg to move,

That this House declines to give a Second Reading to the Finance Bill because the provisions contained in its 574 pages increase the burden and complexity of taxation, particularly on small owner managed businesses; do nothing to increase the savings rate or improve United Kingdom productivity; and will lead to a further decline in the competitiveness and relative attractiveness of the United Kingdom as a location for investment.

Question put, That the amendment be made:-

The House divided: Ayes 190, Noes 301.

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