Business of the House

Kwasi Kwarteng Excerpts

Thursday 24th March 2011 Commons Chamber

[Sir George Young]

Of course I understand the hon. Gentleman’s concern—but I do not know whether he has had time to look at the regulatory impact assessment carried out in 2006, when his party was in government, on increased taxation on North sea producers. It said:

“Oil companies are price-takers, facing a globally-determined market price for their output, and so will absorb all costs. They will be unable to pass any costs on to consumers, and the impact will be distributed proportionately across producers with no adverse effects on competition”.

I hope that gives the hon. Gentleman the reassurance he was seeking.

[Kwasi Kwarteng (Spelthorne) (Con)]

Will the House have the opportunity to debate the Independent Parliamentary Standards Authority review of MPs’ expenses, which will be published tomorrow?

[Sir George Young]

My hon. Friend reminds the House that at one minute past midnight IPSA is due to publish the outcome of its review of the scheme. I understand that it hopes to inform hon. Members of its contents before then. As my hon. Friend will know, there is now a group that liaises between the House and IPSA and has regular meetings to discuss the scheme. I suggest that my hon. Friend, and indeed others, use that channel to communicate their views on the revised scheme, as they already do now.