§ Barbara FollettTo ask the Chancellor of the Exchequer if he will make a statement on further progress on the Tax Law Rewrite Project. [112498]
§ Dawn PrimaroloI am pleased to be able to tell the House that the Tax Law Rewrite project is continuing to make good progress. The Inland Revenue today publish the project's ninth Exposure Draft, containing more draft rewritten clauses on capital allowances. This publication also includes the rewritten clauses from earlier exposure drafts on capital allowances, making up a first draft Bill. Some—but not all—of this earlier material has been revised in the light of comments received. I hope the final Bill—which will completely rewrite the current capital allowances legislation—will be ready to be introduced in Parliament later this year. Copies of the Exposure Draft will be placed in the Libraries of the House.