§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what is his timetable for(a) the abolition of (i) capital gains tax and (ii) inheritance tax, and (b) implementing a standard rate of tax at 20p in the pound; and if he will make a statement. [3245]
§ Mr. Jack[holding answer 11 November 1996]: The Government remain committed to the long-term aims of abolishing capital gains tax and inheritance tax, and reducing the basic rate of income tax to 20 per cent., as and when resources permit.