When is it proposed to take the Second Stage.
Corporation Tax Bill, 1975: Order for Second Stage.
Bill entitled an Act to charge and impose on certain profits a duty of inland revenue to be known as corporation tax, to amend the law relating to inland revenue and to make further provisions in connection with finance.
I suggest it be taken on Tuesday, 16th December, 1975, subject to consultations with the Whips in the meantime.
It might be better to fix it for the first day after the Christmas recess. As the Minister knows, it is a very substantial Bill and it has been on the stocks for a very long time and I am not aware of any particular urgency now.
I would not like to spoil the Deputy's Christmas by asking him to read the Corporation Tax Bill over that season. The problem is this—and I am sure the Deputy will appreciate it—first of all, there is a strong desire that corporation profits tax would be operative from April next, in which circumstances, quite clearly it is desirable that the longest possible notice of the Bill, as finally passed in both Houses, should be given.
I would be hoping that there would be agreement to have this considered by a Special Committee. Therefore, the Deputy will appreciate my anxiety that, if possible, we get the Second Stage over before Christmas so that we could settle down to a Special Committee for consideration of the matter in January. Obviously, between January and April there would be very little time in which to consider this Bill. Therefore, any time that could be saved this side of Christmas would be highly desirable. Perhaps the Whips could meet to discuss the pros and cons of the best date.
I could agree to the Minister's suggestion provided it is quite clear that there is absolutely no commitment——
I accept that.
——except by agreement between the Whips.
Is it too early for the Minister to say when the budget will be introduced?
It is too early to say.
Second Stage ordered for Tuesday, 16th December, 1975.