I appreciate the point which my hon. Friend the Financial Secretary made about the possibility of tax avoidance if the new Clause were accepted as it stands. There is a very simple remedy for that. The Clause could be restricted to a capital payment proportionate to the wage in some way. That would be a simple but effective addition to the Clause.

I am very disappointed that my hon. Friend could not go further than he did in acceptance of the new Clause, because I think that the Government have been overtaken by their own legislation. They have been overtaken by the Contracts of Employment Act, and it is necessary for employers to put some confirmation in the written statement under that Act of what will happen on termination of the employment. By so doing they bring the payments within the tax law. To that extent, the Contracts of Employment Act has, by a side-wind, altered the tax position.

I am sorry that my hon. Friend cannot take the matter further tonight. Of course, I cannot press it further now. I am happy that he has accepted the principle, and, on that basis, I beg to ask leave to withdraw the Motion.