PN080404FB

IMMEDIATE

THURSDAY 8 APRIL 2004

LORDS COMMITTEE TO EXAMINE FINANCE BILL

For the second year a sub-committee of the House of Lords Select Committee on Economic Affairs has been established in order to examine the Finance Bill. 

The Finance Bill Sub-Committee will be chaired, as last year, by Lord Peston, who chairs also the main Economic Affairs Committee. 

The members of this year's Sub-Committee are Lord Barnett, Lord Blackwell, Lord Freeman, Lord Moser, Lord Newby, Lord Paul, Lord Roll of Ipsden, Lord Sheppard of Didgemere, Lord Sheldon, Lord Shutt of Greetland and Lord Wakeham.

The Sub-Committee's terms of reference limit its examination of the Finance Bill to technical issues of administration, clarification and simplification of taxation and preclude consideration of the rates or incidence of taxes. 

Last year's sub-committee reported, in June 2003, on the introduction of Stamp Duty Land Tax, on measures to tackle VAT evasion and on mandatory electronic payment of PAYE by larger employers.

This year's sub-committee will select its agenda later this month and will issue a further press releases at that time.

The Sub-Committee is aiming to present its report by the middle of June.

                                                                                                             [ENDS]