SIR MANCHERJEE BHOWNAG-GREE
I beg to ask Mr. Chancellor of the Exchequer whether the creation of Joint Stock Capital under the Companies Acts exceeded £200,000,000 sterling last year; and whether it would be feasible to impose a duty on the issue of debentures and other fixed borrowings by Joint Stock Companies, whereby they now usually obtain the use of capital without materially contributing to the Inland Revenue.
§ SIR M. HICKS BEACH
The answer to the first paragraph is in the affirmative. The duty which the hon. Member suggests is already imposed by the existing law.