§ Mr. RedmondTo ask the Chancellor of the Exchequer what action he is taking in respect of sharp movements in gilts prior to the impact day of the new tax regime; and if he will make a statement. [40961]
§ Mr. JackGilt prices respond to a variety of influences, of which prospective tax change is only one. My right hon. and learned Friend has already announced his proposals for tax reform in this field in broad outline, and the date on which it should come into effect. He does not believe any special measures are needed as these plans move towards implementation.