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"These reforms will ensure that UK companies, especially small and medium-sized enterprises, can compete on a level playing field with those larger companies with the resources to set up operations in the Channel Islands, " said David Gauke, Exchequer Secretary to the Treasury.
BBC: Treasury to close loophole that allows VAT-free DVDs
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In the second part of the committee, MSPs took evidence from David Gauke MP, Exchequer to the Secretary to the Treasury.
BBC: Scotland Bill Committee part 1
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Chancellor of the Exchequer George Osborne (essentially head of the treasury and czar of all things financial) explained that the decision to abolish the stamp duty tax was meant to benefit small and medium sized businesses.
FORBES: UK Eliminates AIM Tax -- Could Help Tech Entrepreneurs