The following declaration of interest was made:

15 October 2007

Mr Philip Dunne declared the following interests: a remunerated directorship (non-executive) and a registrable shareholding in Baronsmead VCT-4-PLC, a venture capital trust; a former partner in a business with a development capital arm; and Chairman and founder of a company which used venture capital.

The 2007 Pre-Budget Report

Draft Report (The 2007 Pre-Budget Report), proposed by the Chairman, brought up and read.

Ordered, That the Chairman's draft Report be read a second time, paragraph by paragraph.

Paragraphs 1 to 8 read and agreed to.

Paragraph 9 read, amended and agreed to.

Paragraphs 10 to 29 read and agreed to.

Paragraph 30 read, amended and agreed to.

Paragraphs 31 to 39 read and agreed to.

A paragraph—(Mr Philip Dunne)—brought up, read the first and second time, amended and inserted (now paragraph 40).

Paragraph 40 (now paragraph 41) read, amended and agreed to.

Paragraphs 41 to 44 (now paragraphs 42 to 45) read and agreed to.

Paragraph 45 read, amended, divided and agreed to (now paragraphs 46 and 47).

Paragraphs 46 to 53 (now paragraphs 48 to 55) read and agreed to.

Paragraph 54 (now paragraph 56) read, amended and agreed to.

Paragraphs 55 to 62 (now paragraphs 57 to 64) read and agreed to.

Paragraph 63 (now paragraph 65) read, amended and agreed to.

Paragraphs 64 to 76 (now paragraphs 66 to 78) read and agreed to.

Summary amended and agreed to.

Resolved, That the Report, as amended, be the Second Report of the Committee to the House.

Ordered, That the Chairman make the Report to the House.

Ordered, That embargoed copies of the Report be made available, in accordance with the provisions of Standing Order No. 134.

Written evidence was ordered to be reported to the House for printing with the Report.

Written evidence was ordered to be reported to the House for placing in the Library and Parliamentary Archives.

[Adjourned till Thursday 29 November at 9.30 am.