§ MR. HOWELL(for Mr. WATT) (Glasgow, Camlachie)asked Mr. Chancellor of the Exchequer, Whether his attention has been called to the fact of the large amount of Foreign investments which has been, and is, taking place from year to year, a large proportion of which appears to escape its fair share of taxation; and, whether he will consider the desirability of placing a tax upon such securities in the shape of a Stamp Duty?
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. GOSCHEN) (St. George's, Hanover Square)The hon. Member refers, I presume, to the Foreign Securities which are transferred in this country without any Stamp Duty being charged on them. My attention has been directed to the subject; but, as I have said before in answer to similar Questions, I cannot anticipate my Budget Statement by saying what action, if any, I am going to take upon it.
§ In reply to a further Question by Mr. HOWELL,
§ MR. GOSCHENsaid, Foreign Securities issued in London did pay Stamp Duty; and it was an undoubted anomaly that Foreign Securities which were negotiable in London should not pay a Stamp Duty. The method of doing so was an exceedingly troublesome one to devise, and it was one about which he would not make any further statement until his Budget Speech.