HC Deb 06 April 1976 vol 909 c268

Finally, I should mention that I have received many representations that the extra cost to companies of repaying foreign currency loans when sterling has fallen in value should rank for tax relief. This is a complex matter on which the arguments are finely balanced. I will announce my decision on this in next year's Budget. Meanwhile the Inland Revenue will consult those affected to see whether a scheme for tax relief can be devised which is workable, fair to taxpayers and the Exchequer and reasonably free from risk of avoidance. I should make it clear that these discussions will be entirely without commitment on my part.