§ Mr. Wolfsonasked the Chancellor of the Exchequer when the draft clauses on the capital transfer tax treatment of discretionary trusts will be published.
§ Sir Geoffrey HoweAs foreshadowed in my Budget speech I have authorised the Inland Revenue to publish today, for further discussion, draft clauses that set out the basis on which I propose to deal in next year's Finance Bill with the treatment of discretionary trusts for capital transfer tax purposes.