Member

The noble and learned Lord, Lord Wallace, raised the question of impact assessments. As we discussed at length in Grand Committee, HMRC has published a tax information and impact note, and the OBR has set out the macroeconomic impacts of the Bill. Ultimately, though—I say this, in part, in response to the point by the noble Baroness, Lady McIntosh of Pickering, about adding additional sectors—the Bill is necessary to fund public services, and the proposals contained in these amendments would, as my noble friend Lord Eatwell said, put much of that funding at risk. They would require either higher borrowing, lower spending or alternative revenue-raising measures. In light of this, I respectfully ask the noble Baroness to withdraw her amendment.