§ Mr. Woodhouse
asked the Chancellor of the Exchequer what representations he has received on the position of the Federated Superannuation Scheme for Universities in relation to the changes in the conditions for tax approval of retirement benefit schemes set out in the Finance Act, 1970; and if he will make a statement.
§ Mr. Patrick Jenkin
We have received representations seeking a measure of exemption for F.S.S.U. from the requirements of the Finance Act, 1970
As the late Chancellor, Iain Macleod, made clear during the debates on the Finance Bill, we recognise that this legislation presents special problems for the F.S.S.U., and we are prepared to consider whether there is some acceptable way of easing their difficulties. I have authorised the Board of Inland Revenue to resume negotiations with representatives of F.S.S.U. and I hope that detailed examination of the problem will lead to a satisfactory and practical solution.