§ Mr. William PowellTo ask the Chancellor of the Exchequer what representations he has received about the use by Pembridge Investments of Bermuda of that off-shore tax haven to launch a takeover bid for the Bristol-based company DRG plc and the fact that the tax status of Pembridge Investments would allow it to break up the constituent parts of DRG and sell them free of tax at the corporate level; whether he will be considering legislation to bring the United Kingdom into line with the tax regime as it operates in this respect elsewhere in Europe; and whether he will make a statement.
§ Mr. LilleyI cannot comment on the tax aspects of individual takeover bids, but I have noted my hon. Friend's suggestion.