§ Mr. Dalyellasked the Chancellor of the Exchequer if he will make a statement about the proposed Income Tax exemption for payments under the Redundancy Payments Bill.
§ Mr. CallaghanIn my Budget Speech I made it clear that my proposal to legislate on this point in the Finance Bill was dependent on the progress of the Redundancy Payments Bill. I have now decided that exempting legislation should be introduced next year. When the Redundancy Payments Bill becomes law I will make a further statement about the proposed exemption, so that employers can take account of it when making payments to which it will apply; it will be framed so as to cover all qualifying payments made after the provisions of the Redundancy Payments Bill come into force.