Lord Cormack
Main Page: Lord Cormack (Conservative - Life peer)Department Debates - View all Lord Cormack's debates with the HM Treasury
(9 years, 7 months ago)
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Lord Newby
My Lords, as the noble Lord will be aware, the various proposals on the table for the devolution of income tax were set out in the Command Paper that was published earlier in the month. The exact nature of further devolution of income tax is under consideration in the Lord Smith process. As part of that, the financial and political consequences of various possibilities in respect of income tax are being actively considered.
Lord Cormack (Con)
My Lords, is there not much to be said for the old adage that if it is not necessary to change, it is necessary not to change?
Lord Newby
My Lords, that is an extremely sweeping statement and I would need prior notice before I felt that I could absolutely agree with it in every case.