§ Mr. Dorrellasked the Chancellor of the Exchequer if he will make a statement about the stamp duty consultative document announced in the Budget speech.
§ Mr. WakehamAn internal review of the stamp duties has examined the scope for modernising and streamlining these taxes. The review has shown that there is scope for considerable reform. A number of the duties could be repealed with little loss of revenue; others contain anomalies, some in favour of the taxpayer, some in favour of the Exchequer, which need correcting. The consultative document which is being issued today by the Inland Revenue with my approval considers, in relation to each of the duties, the case for change. Many of the issues are highly technical, and before decisions are taken the Government would welcome comments on the questions raised in the consultative document.
Copies of the consultative document have been placed in the Library of the House. It will be helpful if comments on the document could be sent to the Inland Revenue by 30 September.