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Competitiveness

Volume 975: debated on Wednesday 5 December 1979

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asked the Chancellor of the Exchequer whether he will bring up to date the information circulated in the Official Report on 27 July 1977 in column 271 concerning the change in competitiveness since 1974.

This information is now published in Economic Trends, for example, on page 46 of the November issue.Income and Corporation Taxes Act 1970

asked the Chancellor of the Exchequer what action he proposes to take to stop the loophole in section 478 of the Income and Corporation Taxes Act 1970 arising as a result of the recent decision of the House of Lords in the Vestey case.

[pursuant to his reply, 3 December 1979]; The Inland Revenue is examining the full implications of the very recent decision of the House of Lords in the Vestey case. The subject will need careful study and it would be premature for me to put forward any proposals at this stage.