§ Mr. BurnsTo ask the Chancellor of the Exchequer what inheritance tax changes are proposed for the new London International Financial Futures and Options Exchange.
§ Mr. DorrellThe only market makers who qualify for inheritance tax business relief and the option to pay inheritance tax on business assets by interest free instalments at present are those on the stock exchange. New regulations will be made to extend these reliefs with effect from 23 March 1992 to traders performing similar functions in relation to financial futures and options on the London international financial futures and options exchange.
§ Mr. Gordon PrenticeTo ask the Chancellor of the Exchequer what is the average value of inheritances in (i) Pendle, (ii) Lancashire and (iii) England for each year since 1985.
§ Mr. BaldryI have been asked to reply.
The average value of inheritances other than of surviving spouses and excluding all inheritances of under £1,000 in England in the years 1985 to 1989 is estimated at £14,700. Figures for individual years are subject to too large a margin of uncertainty to be meaningful. Information about inheritances in Pendle and Lancashire is not available.