§ Mr. Nicholas BrownTo ask the Chancellor of the Exchequer if he will adopt the Keith committee proposal to require taxpayers to disclose tax avoidance transactions.
§ Mr. LilleyThe recommendation of the Keith committee that the taxpayer should be obliged to tell the inspector where he has taken the benefit of any doubt whether any item ought to be declared, or any relief or deduction allowed, was rejected, following extensive public consultations, because it was found that it would be both burdensome and impracticable.
124Wbe provided only at disproportionate cost. All estimates of income are based on information reported to tax offices and collected through the annual surveys of personal incomes. For years before 1985–86, estimates exclude employees' contributions to occupational pension schemes and some investment income on which tax is deducted at source. Estimates are based on the surveys of personal incomes for years up to 1987–88 and projections of the 1987–88 survey for subsequent years; the latter are therefore provisional. I regret that information on the bottom 5 per cent. of taxpayers is not available.
§ Mr. Nicholas BrownTo ask the Chancellor of the Exchequer whether he intends to take measures to prevent fringe banks from funding tax avoidance schemes.
§ Mr. LilleyNo. Banks must be free to decide whether to fund any legitimate activity.