Wealth

Lord Foulkes of Cumnock Excerpts

Monday 5th July 2010 Lords Chamber

[Lord Sassoon]

My Lords, the coalition agreement indeed commits the Government to make every effort to tackle tax avoidance. There was a Budget press notice on eight initiatives that we are taking. One is to examine whether the option of a general anti-avoidance rule should form one element of strengthened defences against avoidance. I assure my noble friend that there will be informal consultations on this possible anti-avoidance rule over the summer.

[Lord Foulkes of Cumnock]

My Lords, may I ask the Minister a very simple question? What proportion of wealth is held by members of the Cabinet?

[Lord Sassoon]

I suspect that it would not register significantly on the data.