§ 4. Mr. Rooker
asked the Chancellor of the Exchequer what representations he has received in respect of the anti-avoidance measures in the Finance (No. 2) Bill.
§ Mr. Ian Stewart
Representations have been received on a number of provisions and they are all being studied carefully.
§ Mr. Rooker
Does the Economic Secretary accept that the Opposition oppose tax avoidance? When later today in Standing Committee Conservative Members seek to perpetuate tax avoidance in overseas tax havens, the Government will receive the responsible support of the Opposition.
§ Mr. Stewart
I note what the hon. Gentleman says about the Opposition's plans for clauses that we shall be discussing in Committee on the Finance Bill. The 1056 Government have introduced certain clauses for the important purpose of dealing with tax havens and the abuse of profits in that way. However, we must establish the right balance between necessary legislation and not making it impossible for British industry and companies effectively to operate in the commercial world in competition with those from other countries.