§ Mr. Trotterasked the Chancellor of the Exchequer whether it is his intention to introduce a wealth tax in his next Budget; and whether his proposals will provide that no taxpayer should pay more in any year by way of income tax and wealth tax than his income for that year and that the wealth tax payable by an individual on a particular asset will in total not exceed the value of the asset.
§ Mr. Denzil DaviesMy right hon. Friend does not propose to take final decisions on the timing of the implementation of the wealth tax, or on the details of the tax, including its interaction with other taxes, until he has had an opportunity to consider the work of the Select Committee on Wealth Tax.