Lords second reading. Agreed to on question. Committee negatived. Standing Order 46 having been dispensed with, the Bill was read a third time and passed.

Lords second reading. Agreed to on question. Committee negatived. Standing Order 46 having been dispensed with, the Bill was read a third time and passed.

My Lords, recognising the vastly changed landscape in which we discuss this Bill, I want to focus on the measures related to research and development and their potential to support the UK’s economic recovery. The extra tax relief is welcome, as is the annual increase in government spend on R&D...

My Lords, recognising the vastly changed landscape in which we discuss this Bill, I want to focus on the measures related to research and development and their potential to support the UK’s economic recovery. The extra tax relief is welcome, as is the annual increase in government spend on R&D...

My Lords, this has been an excellent debate, and I thank noble Lords for their expert and insightful contributions. I shall use what time remains available to address some of the issues raised by your Lordships in the debate. First, I shall briefly review some of the Bill’s achievements, for,...

My Lords, this has been an excellent debate, and I thank noble Lords for their expert and insightful contributions. I shall use what time remains available to address some of the issues raised by your Lordships in the debate. First, I shall briefly review some of the Bill’s achievements, for,...

My Lords, I cannot say much about the budget except that it is inadequate for the scale of the problems ahead. We know that coronavirus has hit us hard and shaken all our systems, but the scale of the climate change crisis will knock all that out of the park.

I...

My Lords, I cannot say much about the budget except that it is inadequate for the scale of the problems ahead. We know that coronavirus has hit us hard and shaken all our systems, but the scale of the climate change crisis will knock all that out of the park.

I...

My Lords, I will concentrate my remarks on the stamp duty land tax Bill. This is a welcome move by the Chancellor to reduce the amount of stamp duty payable on property sales in the UK. It will help the economy as the country gets back on its feet and...

My Lords, I will concentrate my remarks on the stamp duty land tax Bill. This is a welcome move by the Chancellor to reduce the amount of stamp duty payable on property sales in the UK. It will help the economy as the country gets back on its feet and...

I sincerely congratulate the Chancellor. The Bill before us is sensible, with sensible policies. However, the key point which I remember

from my economics lectures is the multiplier effect. The more people spend, it affects other levels of society, and that is the whole basis of the key to recovery.

Our...

I sincerely congratulate the Chancellor. The Bill before us is sensible, with sensible policies. However, the key point which I remember

from my economics lectures is the multiplier effect. The more people spend, it affects other levels of society, and that is the whole basis of the key to recovery.

Our...

First, on the stamp duty issue and the problems facing young people, welcome though they are, the stamp duty proposals may have very perverse consequences for the most vulnerable people in the rented sector. Yesterday, I received the following message:

“Three days ago our landlord contacted us to say that he...

First, on the stamp duty issue and the problems facing young people, welcome though they are, the stamp duty proposals may have very perverse consequences for the most vulnerable people in the rented sector. Yesterday, I received the following message:

“Three days ago our landlord contacted us to say that he...

My Lords, we are in unprecedented times. We had a weak economy and have now been hit badly by coronavirus, which itself is having a massive effect globally, which will affect our future trading figures. Pandemics have long been on the UK’s risk register. The Government were distracted at the...

My Lords, we are in unprecedented times. We had a weak economy and have now been hit badly by coronavirus, which itself is having a massive effect globally, which will affect our future trading figures. Pandemics have long been on the UK’s risk register. The Government were distracted at the...

My Lords, the Chancellor has responded to the Covid crisis with unprecedented cash handouts. Some are clearly well judged, the furlough scheme most obviously. Others, however, look off target. When the head of HMRC, Jim Harra, questions the wisdom of measures, it would surely be wise to pay attention, yet...

My Lords, the Chancellor has responded to the Covid crisis with unprecedented cash handouts. Some are clearly well judged, the furlough scheme most obviously. Others, however, look off target. When the head of HMRC, Jim Harra, questions the wisdom of measures, it would surely be wise to pay attention, yet...

My Lords, it is unfortunate that because, during the worst recession in two centuries, we have not had a full debate on the economy, we have to use this debate on the Finance Bill, but so be it.

Most recessions are the result of a shortfall of demand. This, uniquely, is...

My Lords, it is unfortunate that because, during the worst recession in two centuries, we have not had a full debate on the economy, we have to use this debate on the Finance Bill, but so be it.

Most recessions are the result of a shortfall of demand. This, uniquely, is...

My Lords, I completely agree with the noble Lord, Lord Lilley, that we need a more efficient state. We need to pay attention to that in this crisis.

In his speech this morning, the Prime Minister predicted that there will be a return to normality by Christmas. I tend to be...

My Lords, I completely agree with the noble Lord, Lord Lilley, that we need a more efficient state. We need to pay attention to that in this crisis.

In his speech this morning, the Prime Minister predicted that there will be a return to normality by Christmas. I tend to be...

My Lords, I will address my remarks from the perspective of small business. As other noble Lords have said, there is much to be welcomed in this Bill, especially the £3.7 billion to support jobs and the help for our struggling hospitality sector.

However, an eye-watering £9 billion has been allocated...

My Lords, I will address my remarks from the perspective of small business. As other noble Lords have said, there is much to be welcomed in this Bill, especially the £3.7 billion to support jobs and the help for our struggling hospitality sector.

However, an eye-watering £9 billion has been allocated...

My Lords, I will refer to the Stamp Duty Land Tax (Temporary Relief) Bill. I declare my relevant interests as recorded in the register.

It is obvious that whoever designed this policy does not understand the housing market. The timing is wrong and the wrong groups are targeted. First-time buyers will...

My Lords, I will refer to the Stamp Duty Land Tax (Temporary Relief) Bill. I declare my relevant interests as recorded in the register.

It is obvious that whoever designed this policy does not understand the housing market. The timing is wrong and the wrong groups are targeted. First-time buyers will...

My Lords, I too start by thanking the Government and congratulating them on the measures that they have introduced so far. I largely agree with my noble friends Lord Shrewsbury and Blencathra, and the noble Lord, Lord Empey, that we now need to move fast and encourage people to go...

My Lords, I too start by thanking the Government and congratulating them on the measures that they have introduced so far. I largely agree with my noble friends Lord Shrewsbury and Blencathra, and the noble Lord, Lord Empey, that we now need to move fast and encourage people to go...

The Minister has talked about the digital services tax. That is a small step on the long road to properly taxing the digital economy,

as called for by the noble Lord, Lord Blencathra. The noble Lord, Lord Bruce, told us that in this financial year, the digital services tax will...

The Minister has talked about the digital services tax. That is a small step on the long road to properly taxing the digital economy,

as called for by the noble Lord, Lord Blencathra. The noble Lord, Lord Bruce, told us that in this financial year, the digital services tax will...

My Lords, the expansion of IR35 has been postponed for a year. That is a small mercy, but a fair balance between the employed and the self-employed needs a more thorough reckoning. First, for the same reasons as now, the economy will not be in sufficient shape by next year...

My Lords, the expansion of IR35 has been postponed for a year. That is a small mercy, but a fair balance between the employed and the self-employed needs a more thorough reckoning. First, for the same reasons as now, the economy will not be in sufficient shape by next year...

My Lords, this morning the Prime Minister announced that he hopes to see spectators at sports such as football by October; I trust that there is a plan on top of the hope. I suggest that the best approach to look at is the creation of spectator bubbles—in other words,...

My Lords, this morning the Prime Minister announced that he hopes to see spectators at sports such as football by October; I trust that there is a plan on top of the hope. I suggest that the best approach to look at is the creation of spectator bubbles—in other words,...

My Lords, I welcome the tax reductions in the Stamp Duty Land Tax (Temporary Relief) Bill; they should help to get the property market moving again. Stamp duty may well be an efficient tax for collection, but it is a terrible drag on the property market. It particularly hits homes...

My Lords, I welcome the tax reductions in the Stamp Duty Land Tax (Temporary Relief) Bill; they should help to get the property market moving again. Stamp duty may well be an efficient tax for collection, but it is a terrible drag on the property market. It particularly hits homes...

My Lords, it is always a pleasure to follow my noble friend Lady Noakes, and I agree with all her comments. I also thank my noble friend the Minister for the clear way in which he introduced the Bills. I ask him to join me in paying tribute to all...

My Lords, it is always a pleasure to follow my noble friend Lady Noakes, and I agree with all her comments. I also thank my noble friend the Minister for the clear way in which he introduced the Bills. I ask him to join me in paying tribute to all...

My Lords, never can economic conditions have changed so much in the time between the publication of a Finance Bill and its consideration by your Lordships’ House. As the Minister has outlined, the Chancellor has, quite rightly, announced

a wide range of emergency measures in response to the Covid crisis—even...

My Lords, never can economic conditions have changed so much in the time between the publication of a Finance Bill and its consideration by your Lordships’ House. As the Minister has outlined, the Chancellor has, quite rightly, announced

a wide range of emergency measures in response to the Covid crisis—even...