§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer (1) if he will alter his present proposals relating to the taxation of gilts and bonds in order to(a) avoid the potential for double taxation of shareholders in investment trust companies and (b) exempt holders of zero dividend preference shares, who would otherwise be penalised by the change in the tax regime; [32952]
(2) if he will exempt existing holdings of gilts and bonds from the new proposals on the taxation of gilts and
Debt written off and debt injected prior to privatisation Debt written off Debt Injected Industry Year £ million Type of debt Year £ million British Telecommunications 1984–85 2,789.9 National Loans Fund 1984–85 3,500 British Gas — — — 1986–87 2,500 BAA 1986–87 43.5 National Loans Fund — — British Steel 1988–89 500.0 Public Dividend Capital — — British Steel 1988–89 3,480.0 Borrowing under Iron and Steel Act 1982 Assistance under Aircraft and Shipbuilding — — Harland and Wolff 1989–90 422.5 Industries (Northern Ireland) Order 1979 — — Short Brothers 1989–90 390.0 Loan by DED — — Water companies 1989–90 4,973.3 National Loans Fund 1989–90 72.9 Water companies 1989–90 55.0 Public Works Loan Board — — Electricity (England and Wales) — — — 1990–91 3,583 Electricity1 Scotland 1991–92 1,043.6 National Loans Fund 1991–92 625.9 NTL — — — 1991–92 22 Norther Ireland Electricity — — — 1993–94 70.3 Belfast Airport — — — 1943–95 15.2 British Coal 1994–95 1,633.4 Voted Loans — — Total — 15,331.2 — — 10,389.3 Notes:
1 Prior to privatisation, National Loans Fund debt due to the South of Scotland Electricity Board nuclear programme of £1,368.4 million was transferred to Scottish Nuclear Ltd. and subsequently written off.