PARLIAMENTARY EARLY DAY MOTION
CONDUCT AND INTERESTS OF THE PAYMASTER GENERAL (3 December 1997)

That this House, mindful of Labour's pledge not to 'permit tax reliefs to millionaires in offshore tax havens', notes that the Paymaster General is simultaneously abolishing PEPs and TESSAs, and is a beneficiary of the offshore Orion Trust; and calls upon him to clarify why he sold his rights to ú10 million of Trans Tec shares to Stenbell, and how much of the latter he owns, and why these shares were then passed to Orion, whether he holds any other of his 30.4 million shares in Trans Tec in offshore trusts, whether Orion was the family trust noted in Trans Tec's 1996 annual report in which he held 9.8 million shares, and who increased this holding to 12.7 million shares in September 1997, and whether Orion holds any other assets, why and when he made a personal loan of $1 million to Roll Centre Inc. before its purchase by Trans Tec and whether any similar loans are extant, whether he is still in receipt of pension certification or other emoluments for Trans Tec, what agreement was conducted with the late Robert Maxwell on the 1991 company merger with Trans Tec, and why the latter sold back his shares just before his death.

Sponsored by:
Lord Boswell of Aynho (Non-affiliated)