|Previous Section||Back to Table of Contents||Lords Hansard Home Page|
Lord McIntosh of Haringey: The Government broadly welcome Commission proposals for simplifying and standardising invoicing rules in EC VAT legislation. The proposals are intended to facilitate the growth of e-commerce and are consistent with the UK's view that changes to the current EC VAT system should focus on simplifying and modernising the tax. We are examining the proposals
|Single, non-aged personal allowance for a man with children||Taxable income above which the highest rate is charged||Highest rate of income tax charged||Retail Price Index||Single, non-aged personal allowance for a man with no children at 1999-2000 prices||Taxable income above which the highest rate is charged at 1999-2000 prices|
For 1970-71 to 1972-73 the highest rate shown is the standard rate of income tax plus the highest rate of surtax.
For 1973-74 to 1983-84, the highest rate charged includes investment income surcharge at 15 per cent, but this total rate would only apply if the taxpayer's income included investment income greater than the threshold for the highest rate of surcharge, which varied between £2,000 in 1973-74 and £7,100 in 1983-84.
Given that budget line B3/301 of the European Union Commission's draft general budget for 2001
29 Nov 2000 : Column WA150
The Parliamentary Under-Secretary of State, Home Office (Lord Bassam of Brighton): On 2 March this year, my honourable friend the Parliamentary Under-Secretary of State at the Home Office announced that the Government had decided to bring to an end the statutory betting levy system, to abolish the Horserace Betting Levy Board and, in principle, to sell the Horserace Totalisator Board (the Tote) to racing.
Following that announcement, my honourable friend invited the British Horseracing Board (BHB), as the sport's governing authority, to prepare a realistic plan for the future funding of racing without a
So far as the sale of the Tote is concerned, racing, with the support of the Tote's own management team, are continuing to develop their detailed proposals for the acquisition of the business. The Government, meanwhile, have been considering what might be the detailed terms of the Tote's exclusive licence following the sale and developing proposals for the future regulation of horserace pool betting. We have also formally notified the European Commission of our proposals in order to obtain state aid clearance, and expect to receive its views shortly.
This consultation paper takes account of the BHB's plan and sets out government's detailed proposals for the abolition of the levy board. Specific areas covered include the BHB's proposal that it should replace the levy board as racing's central funding body and take control of related levy board assets; the board's responsibilities for advancing veterinary science and education and the improvement of breeds of horses; and the future of the National Stud. It also contains interim proposals, ahead of the outcome of the independent review of gambling, for the licensing and regulation of racecourse betting, including the Tote's pool betting operations.
Publication of this paper represents the next important step towards ending the Government's direct involvement in the administration and financing of racing. The Government wish to see both racing and bookmaking flourish and we remain committed to working closely with both industries as we implement these reforms.
Copies of the consultation paper have been placed in the Library. The closing date for responses is 28 February 2001. Thereafter, the Government intend to bring forward legislation, when parliamentary time allows, that will provide for both the abolition of the Levy Board and the sale of the Tote.
My right honourable friend the Home Secretary would like to pay tribute to Sir Trefor Morris for his contribution over the past three years, during which the organisation has assumed an increasingly important role in delivering police technology. He is very pleased that we have found someone of Sir Edmund Burton's calibre to take over from him, and to lead the organisation at a time when we are investing unprecedented amounts of money in new IT and communications projects to improve the efficiency and operational effectiveness of the police.
|Next Section||Back to Table of Contents||Lords Hansard Home Page|