FORMER REGISTERED DOCK WORKERS' PENSIONS AND ADVANCED CORPORATION TAX

Motion Text

That this House expresses concern at the impact of advanced corporation tax abolition on the Former Registered Dock Workers' Pension Fund; notes that had the advanced corporation tax rules not changed the fund would have continued to receive a dividend 33 per cent. larger than the net dividend paid and that this additional income would have been reinvested in the fund's equity portfolio; further notes that the additional income from such investments could have been used to provide better benefits for members of the fund; and urges Her Majesty's Treasury to review the effect this has had on the Former Registered Dock Workers' Pension Fund with a view to introducing new proposals to address this problem.