§ I propose to repeal the existing provision under which a beneficiary for whom income has been accumulated under a will or settlement contingently on his attaining a specified age or marrying may, when the contingency occurs, claim repayment of Income Tax on account of personal reliefs for the years of accumulation as if the income had been his all along. This is an anomaly which even the most single-minded devotee of tax loop-holes would find difficult to defend. I propose that the repeal of this relief should be effective as regards income accumulated in the current year 1969–70 and later years.