§ Mr. DarlingTo ask the Chancellor of the Exchequer when the review into the taxation of proceeds for mortgage protection policies was set up; what are its terms of reference; who is conducting it; when he expects it to report; and if he will make a statement. [23630]
§ Sir George Young[holding answer 10 May 1995]: My right hon. and learned Friend the Chancellor made it clear in the statement he issued on 2 May that benefits under mortgage payment protection policies will be exempt from tax. The decision resulted from a review that had been under way for some months.