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Tuesday, 27 April 1965

These changes will correct a feature of our tax system which is working against our long-term interests. Their impact on the developing countries, towards whom we have special responsibilities, is not expected to be adverse to any significant degree. The Chancellor will be watching this aspect of the question with great care.

The Chancellor has carefully studied the representations about the corporation and capital gains taxes he has received. Full details of his proposals for these new taxes will be revealed when the Finance Bill is published and he has it in mind to publish at the same time a White Paper which will explain the meaning and effect of the various clauses of the Bill as simply as Possible.

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