Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of introducing a four per cent tax on share buyback.

Share buybacks are already subject to taxation in the form of Stamp Taxes on Shares (STS).

The Government also has a number of carefully designed rules in place to that ensure that any returns that arise as part of a buyback are treated consistently with the policies and principles that underpin the broader tax system.