Brendan Keenan: Little political appetite for Finance Bill debate
Published 25/01/2011 | 05:00
A LOT of people are already very familiar with the Finance Bill. They only had to look at their pay packets to see the impact of the new universal social charge and reduction in tax credits. That is the kind of thing which becomes law in finance bills.
So no one can say it is not important. In normal times, there would be no great difficulty about letting the bill fall with the Government, and having a new government start over again.
Four months are allowed between tax changes coming into force after the Budget and having to become law under a finance bill. Crucially, though, the clock stops ticking if there is an election. So, technically speaking, there is no rush.