§ Mr. Meacherasked the Chancellor of the Exchequer how many private discretionary and other family settlements are in operation in Great Britain; and what is his estimate of the amount of money covered by such trusts.
§ Mr. Patrick JenkinThis information is not available.
§ Mr. Meacherasked the Chancellor of the Exchequer by how much he estimates estate duty yield is annually diminished as a result of the exclusion from liability of private discretionary trusts, after allowing for the yield from the changing provisions on discretionary trusts.
§ Mr. Patrick JenkinI am not clear what exclusion from the estate duty charge the hon. Member has in mind.
§ Mr. Meacherasked the Chancellor of the Exchequer what estimate he has made of the additional estate duty accruing to the Treasury each year as a result of the discretionary trust provisions incorporated in the 1969 Finance Act.
§ Mr. Patrick JenkinThe Financial Statement and Budget Report 1969–70 estimated the full year yield from the changes in the estate duty treatment of settled property as £10 million.
§ Mr. Meacherasked the Chancellor of the Exchequer what estimate he has made of the additional yield in capital gains tax of treating all advances made by trustees out of capital to beneficiaries under private discretionary trusts as gifts with the whole of the advance being treated as a chargeable gain.
§ Mr. Patrick JenkinNo estimate is available.