§ SIR MANCHERJEE BHOWNAGGREE (Bethnal Green, N.E.)I beg to ask Mr. Chancellor of the Exchequer whether he can state what was the amount of duty realised on the joint stock capital issued under the Companies Acts last year, and whether he will take into consideration the advisability of enhancing the impost to which it is at present liable, being only one-eighth per cent. on the incorporation of the companies.
§ THE CHANCELLOR OF THE EXCHEQUER (Sir M. HICKS BEACH, Bristol, W.)The amount of companies' capital duty realised during the year ended 31st March, 1901, was £618,975 10s. The present rate of duty is 5s. for every £100 of nominal share capital, or one quarter of one per cent., not one-eight per cent. as stated in the question. The duty was 1157 raised from 2s. per cent. to 5s. per cent. as recently as 1899 (Finance Act, 1899, Section 7), and I am not at present disposed to propose to increase it.