§ Mr. Ridleyasked the Chancellor of the Exchequer if he will now publish the new 423W rules for qualifying life assurance policies which he intends to introduce, together with all details of procedure and rights of appeal; and if he will publish these as a consultative document.
§ Dr. GilbertNo. The proposals represent a tidying-up rather than any major change in the existing rules; the Life Offices Association has been consulted about them and the most appropriate course now will be to include the relevant provisions in my proposed second Finance Bill.
§ Mr. Ridleyasked the Chancellor of the Exchequer if he will publish a Green Paper setting out full details of his proposals in relation to deferred annuities, single premium bonds, part surrenders and early surrenders of life policies.
§ Dr. GilbertNo; the proposals, which have been discussed with the Life Offices Association, relate to provisions to combat tax avoidance and it would not be appropriate to deal with them in a Green Paper.