§ Mr. BayleyTo ask the Chancellor of the Exchequer (1) when he proposes to make an announcement on the detail of the tax provisions for housing investment trusts; [40765]
(2) if he will estimate the revenue cost in a full year of allowing financial institutions to invest in privately rented property through the housing investment trusts proposed in the paper, "Our Future Homes", assuming that the trusts pay no capital gains tax for gains within the trust and pay corporation tax at the rate of 25 per cent. [40766]
§ Mr. Jack[holding answer 31 October 1995]: It would not be appropriate for me to comment on tax matters at this stage of the Budget cycle.
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