§ MR. CHARLES M'ARTHUR (Liverpool, Exchange)On behalf of the hon. Member for the Kirkdale Division of Liverpool, I beg to ask Mr. Chancellor of the Exchequer, whether his attention has been called to a statement made by Sir Robert Giffen at the Institute of Bankers, in which he placed the value of our excess of imports over exports last year, less freight and other charges, at £90,000,000, as representing the interest which we were entitled to receive upon our capital invested abroad; whether this £90,000,000, derived from investments abroad, paid income tax to the extent of the £4,500,000 which would have been collected if the £90,000,000 had been derived from investments in this country.
§ THE CHANCELLOR OF THE EXCHEQUER (Sir M. HICKS BEACH, Bristol, W.)The amount of income derived from investments abroad that is charged with income tax cannot be precisely stated. There is, however, good ground for supposing that it is not less than £90,000,000, and that it paid income tax to the extent stated in the question.