§ Mr. Shersbyasked the Chancellor of the Exchequer how many representations he has received from individuals and companies concerning the provisions of clause 34 of the Finance Bill; and if he will make a statement.
§ Mr. Peter Rees[pursuant to his reply, 1 June 1981, c. 264]: We have received a substantial number of representations. These have in general recognised the problem which the clause seeks to meet, but have expressed a number of reservations about the likely effect of the proposals. In view of this, we have decided to withdraw the clause from this year's Finance Bill; we shall be undertaking consultations with the representative bodies involved, with the aim of bringing forward revised proposals next year.