Finance Bill — [2nd Allotted Day] — Schedule 37 — Stamp Duty Land Tax and Stamp Duty — 28 Apr 2004 at 15:00

I beg to move amendment No. 11, in schedule 37, page 506, line 30, leave out 'or request'.

As this is my first contribution today, may I also welcome you to the chair, Mr. McWilliam? You have chaired us during a number of our deliberations and I look forward to your guidance in the coming hours. I also welcome the Financial Secretary. She and I have discussed these issues on a number of occasions and I look forward to jousting with her later today, and indeed on this amendment.

I beg to move amendment No. 12, in schedule 37, page 510, leave out lines 2 to 5.

This is also a probing amendment. It seeks to clarify the sale and leaseback tax relief arrangements. Again, a number of professionals in the sector who have many years' experience have identified a potential problem with the provision, and I use the word "potential" with due care.

I beg to move amendment No. 14, in page 532, line 17, at end insert

'in the case of leases assigned within three years of grant'.

Question put, That the amendment be made:-

The Committee divided: Ayes 127, Noes 336.

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