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Tax Deferral

Volume 173: debated on Tuesday 22 May 1990

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To ask the Chancellor of the Exchequer how many letters have been received by his Department suggesting the implementation of a tax deferral scheme allowing firms to reinvest their profits for a three-year period.

My right hon. Friend the Chancellor received one such suggestion before his Budget this year; and from time to time he receives letters proposing favourable tax treatment for profits retained in a business.