§ Mrs. May
To ask the Chancellor of the Exchequer what assessment his Department has made of the impact of the abolition of dividend tax credits on the investment income of the Public Trust Office with particular reference to funds held for disabled children arising from compensation awards. 809W
§ Dawn Primarolo
[holding answer 1 March 1999]: The Government withdrew payable credits to remove a bias in the tax system against the retention of profits for investment. It is for the Public Trust Office to review the investments under its management and to make investment decisions in the interests of the beneficiaries in question.