Parliamentary Committees and Public Enquiries
Government responds to Treasury Committee’s Tax After Coronavirus report
The Treasury Committee published its report on Tax After Coronavirus on 1 March 2021.
- Read the Report: First Report - Tax after coronavirus: the Government’s response
- Inquiry: Tax after coronavirus
- Treasury Committee
Its recommendations included:
- Now is not the time for tax rises or fiscal consolidation, but significant fiscal measures, including revenue raising, will probably be needed in the future
- Government’s tax lock manifesto commitment will come under significant pressure
- Moderate increase in corporation tax could raise revenue without damaging growth
- Government should prioritise reforming stamp duty land tax
- Government should introduce temporary three-year loss carry-back for trading losses and increase investment incentives for business
The Committee has now received the Government’s response, which is published with this report. In reply, the Committee has expressed its disappointment that some of its recommendations, particularly around strategy, have been dismissed without a full explanation:
- The Committee disputes the Financial Secretary’s statement ‘that the balance of recommendations in the report leans away from measures that would help to repair the public finances in the coming years’, and is disappointed with this observation. The Committee recommended several significant revenue raising measures, many of which the Government has adopted.
- The Government should provide a clearer explanation of why it cannot accept the Committee’s recommendations on the need for a tax strategy.
Commenting on the Government’s response, Mr Stride said:
“Our inquiry was a thorough look at the tax system and an appraisal of how it could be reformed to raise money and improve the economic efficiency of the tax system.
“Whilst the Committee does appreciate the difficulty in pre-announcing tax policy, it is disappointing that the Government has rejected our recommendations to improve the approach to tax strategy, when the evidence was overwhelmingly in favour.”
Original article link: https://committees.parliament.uk/committee/158/treasury-committee/news/155576/government-responds-to-treasury-committees-tax-after-coronavirus-report/
Latest News from
Parliamentary Committees and Public Enquiries
MPs lament NHS and Government complaints body’s “lack of ambition” to return to pre-pandemic service delivery levels31/03/2023 16:05:00
The Public Administration and Constitutional Affairs Committee has today published its report on the performance of the Parliamentary and Health Service Ombudsman (PHSO) from 2021-22.
Universal Credit and childcare costs: Work and Pensions Committee publishes Government Response to Report31/03/2023 15:05:00
The Government Response to the Work and Pensions Committee Report on Universal Credit and childcare costs has been published.
Greater support needed to realise ambitions of the National Bus Strategy, Transport Committee tells Government30/03/2023 17:30:00
The Transport Committee’s new report, ‘Implementation of the National Bus Strategy’ argues that while the Government’s 2021 National Bus Strategy was ambitious, full of good ideas and supported by extra, much-needed funding, the Government must maintain its focus to achieve it and build a network fit for the post-pandemic world with more investment in cashless payments, smart ticketing, priority bus routes and demand responsive services.
Urgent action needed to ensure opportunities of new health care restructure are realised, warn MPs30/03/2023 16:30:00
The Committee’s report into new partnerships aimed at delivering joined-up health and care services is calling for the Government and NHS England to address key concerns if an opportunity to deliver real change is to be realised.
Car parking charges and use of parking apps - Levelling Up Committee writes to Government Ministers30/03/2023 14:25:00
Clive Betts, Chair of the Levelling Up, Housing and Communities, has written to Transport and Levelling-Up Ministers on a series of car parking issues, including the Government’s Private Parking Code of Practice, the National Parking Platform, and concerns that some motorists are being digitally excluded from the phasing out of pay-as-you-go parking meters.
Ombudsperson system needs greater human rights focus but dedicated Human Rights Ombudsperson not needed – report finds28/03/2023 16:25:00
Creating a dedicated human rights ombudsperson could risk creating overlap with the functions of existing bodies, a Joint Committee on Human Rights report has found.
STEM ambitions must be matched by commitment to diversity and inclusion, say MPs24/03/2023 15:20:00
The Commons Science and Technology Committee calls for action on underrepresentation in STEM “that truly moves the dial” in a new report.
National Security and Investment Act: Scrutiny deal agreed between Committee and Government23/03/2023 16:10:00
The Government and the Business, Energy and Industrial Strategy (BEIS) Committee have agreed a memorandum of understanding (MOU). It will give the Committee access to the information it needs to scrutinise the work of the Investment Security Unit (ISU) and the UK’s new system of screening investments for security risks.