Justin Tomlinson
Main Page: Justin Tomlinson (Conservative - North Swindon)Department Debates - View all Justin Tomlinson's debates with the HM Treasury
(14 years, 1 month ago)
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Mr Osborne
Where is the fairness in a record budget deficit? That is what we have to address. We are taking difficult measures; I know that every single one is opposed by the Opposition, who created that deficit, but that says more about them than it does about our plan.
Justin Tomlinson (North Swindon) (Con)
What percentage of bankers based in the City of London are British citizens, and therefore taxed at the higher rate on their bonuses?
Mr Osborne
Two hundred and fifty thousand people or thereabouts are eligible for the 50p rate, which came into effect in April. As I have said, other taxes, too—such as employers’ national insurance—are levied on bonuses, and in the Finance Bill, which we have published in draft, we have taken specific measures, on which we will seek to legislate later this year, to deal with some of the avoidance practices in the financial sector that were allowed to proliferate under the previous Government.