To ask the Chancellor of the Exchequer how many sections in Finance Acts have had retrospective consequences on the tax liability of (a) individuals and (b) companies since 1997; and if he will make a statement. (98792)

Many sections of Finance Acts take effect from dates prior to the date on which the particular Act received Royal Assent. This is a well established and accepted feature of the way Parliament makes much of its fiscal legislation. The fact that provisions need to take practical effect prior to the passing of the Finance Bill is recognised, for example, by the Provisional Collection of Taxes Act 1968 which gives statutory effect to provisions in advance of the passing of the Finance Bill, in particular excise duties on alcohol, petrol and tobacco.