§ 14. Mr. Foulkesasked the Chancellor of the Exchequer when the draft legislation arising from his consultative document on tax havens and company residence will be published.
§ Mr. Bruce-GardyneThe draft legislation was published on 8 December. Copies have been placed in the Library of the House.
§ Mr. FoulkesIs the Minister aware that there is increasing concern and annoyance that money is lost to United Kingdom revenue as a result of increased tax 444 dodging by individuals and companies in both the Channel Islands and the Isle of Man? What action will the Government take to stop, or at least limit, such tax dodging?
§ Mr. Bruce-GardyneWe shall listen to the representations that we receive in the light of the draft legislation that has now been placed in the Library. If we proceed along the lines of that legislation, it will cover companies based in the Channel Islands and the Isle of Man which carry on their main operations for tax purposes in this country.