§ Sir B. Rhys Williamsasked the Chancellor of the Exchequer whether, in drafting the Finance Bill he will seek to ensure that a gain realised by a life office on a gilt-edged security within 12 months of acquisition should be subject to Corporation Tax at the special rate of 30 per cent., and that short-term losses should continue to be allowed to be set off against gains made in other ways; and if he will make a statement.
§ Mr. Harold LeverAs my right hon. Friend indicated in his Budget Statement, short-term gains on gilt-edged securities, including gains realised within twelve months by companies, will continue to be charged to tax as at present. I have noted the points made by the hon. Member.