§ Mr. Jim Cunningham
To ask the Chancellor of the Exchequer if he will ensure that reforms of capital gains tax encourage long-term investment. 
§ Dawn Primarolo
[holding answer 9 December 1997]: In his Pre-Budget Report of 25 November, my right hon. Friend the Chancellor made it clear that he remains attracted to a system of capital gains tax that encourages long-term investment. Work to examine the scope for such a system is continuing.