Member

21: Clause 3, page 3, line 37, at end insert— “(9D) In sub-paragraph (9B) the £500,000 threshold must be increased on 1 April each year by at least the CPI.(9E) The CPI is the Consumer Price Index percentage recorded by the Office for National Statistics for September of the financial year preceding the relevant year concerned.”Member’s explanatory statement This amendment, along with others in the name of Baroness Scott of Bybrook, seeks to increase the £500,000 threshold with inflation to ensure businesses don’t get drawn into the higher rate.