§ Mr. Michael Brown
asked the Chancellor of the Exchequer if, in his review of the capital transfer tax, any proposals brought forward will be retrospective for at least 12 months from the date that such proposals are enacted by Parliament.
§ Mr. Peter Rees
With only minor exceptions it has not been thought appropriate to give retrospective effect to changes in capital transfer tax—or previously, estate duty. Whilst it would be premature to give any firm answer in 449W relation to any future changes, it seems unlikely that my right hon. and learned Friend will wish to depart substantially from this practice.