Anglo-American Tax Treaty

Mrs. Renée Short
asked the Chancellor of the Exchequer if the new United Kingdom-United States double taxation convention allows individual American States to tax British companies on a unitary basis; what effect he thinks this will have on British exhorts and industry operating in the United States of America; whether he has received representations from industrialists worried about the increased tax burden this convention permits; and when he intends to publish the third protocol.

Mr. Joel Barnett
I will let my hon. Friend have a reply as soon as possible.