§ Mr. Sternasked the Chancellor of the Exchequer (1) whether, in view of his announced intention to make interest paid by banks subject to irrecoverable tax at source, he will consider making transitional arrangements for those account holders whose deposits are for a fixed term extending beyond the proposed introduction of the new scheme and who are not currently liable to taxation on interest received; and if he will make a statement;
(2) whether, in view of his announced intention to make interest paid by banks subject to tax at source, it is also his intention that all recipients of such interest in the year 1984–85 will be taxed under the provisions of section 121 of the Income Taxes Act 1970; and if he will make a statement;
(3) whether, in view of his announced intention to make interest paid by banks subject to tax at source, he has any plans to amend section 17 of the taxes Management Act 1970, so that the present reporting requirement on banks will continue under the new system; and if he will make a statement;
(4) whether, in view of his announced intention to make interest paid by banks subject to irrecoverable tax at source, he has any plans to exempt non-resident holders from any provisions introduced; and if he will make a statement.
§ Mr. Ian StewartMy right hon. Friend has made no announcement on this matter.