Written question asked by Harry Barnes (Labour) on Friday, 3 December 1999, in the House of Commons. It was due for an answer on Thursday, 16 December 1999. It was answered by Melanie Johnson (Labour) on Thursday, 16 December 1999 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, What representations he has received recently concerning the taxation of international currency speculation; and if he will make a statement. (Failed OPQ). - Inc figures.

Answer: Mr. Barnes: To ask the Chancellor of the Exchequer what representations he has received recently concerning the taxation of international currency speculation; and if he will make a statement. [101796] Miss Melanie Johnson: Since the beginning of the year, the Treasury has received 19 letters and 603 postcards from members of the public and 42 letters from hon. Members about the proposal to introduce a tax on currency speculation. The Government believe the idea of a tax on currency speculation is, in principle, interesting, but has a number of practical drawbacks. It would be almost impossible to achieve global coverage, and there would be huge scope for avoidance.

Secondary information