§ Mr. Silvesterasked the Secretary of State for Trade and Industry what plans he has for legislation on unauthorised life insurers.
§ Mr. Alexander FletcherThe changes in the tax treatment of policies taken out with unauthorised offshore life insurers announced by my right hon. Friend the Chancellor of the Exchequer on 18 November are expected to reduce significantly the attractiveness of this form of investment to UK residents. While we have no plans for legislation on the issue in this Session, we shall be taking fully into account the relevant recommendations in Professor Gower's report on investor protection when considering legislation in follow up of his report.