Finance Bill Clause 50 And Building Societies (No.1)

EDM number 799 in 1990-91, proposed by Peter Bottomley on 03/05/1991.

That this House, facing the choice of setting a rate by which to impose effective retrospective double taxation on the dividends and interest received by individual members of building societies or of making plain that it accepts and always intended to give effect to the assertions of Treasury Ministers in 1985 and 1986 that the transitional arrangements to quarterly payments for building societies would not produce extra revenue, would not involve double taxation and would not be retrospective, declines to set a rate; and wishes it had never enacted the retrospective power to create the liability for double taxation in any sense with or without an effective rate.

This motion has been signed by a total of 2 MPs.