§ Mr. Michael Martinasked the Chancellor of the Exchequer how much revenue he estimates has been lost as a result of the loopholes in the development land tax legislation which allowed a developer to set up off-the-peg companies and benefit from the £50,000 exemption for each.
§ Mr. Peter ReesThe amount of tax lost cannot be estimated.
§ Mr. Michael Martinasked the Chancellor of the Exchequer if he will make retrospective his proposal to close the loophole in the development land tax legislation which allows a developer to set up off-the-peg companies and benefit from the £50,000 exemption for each.
§ Mr. Peter ReesNo.