§ Mr. Sternasked the Chancellor of the Exchequer whether he will consider amending section 168(2) of the Income and Corporation Taxes Act 1970 to allow the carry-back of a loss in a trade, profession or vocation for two years rather than one.
§ Mr. MooreI am afraid that I am not clear what my hon. Friend has in mind. Section 168(2) of the Taxes Act provides for relief to go forward, that is to the extent that a loss is not relieved against income of the year of loss it may be relieved against income of the following year.