§ MR. WILLIAM REDMOND (Clare, E.)
I beg to ask Mr. Chancellor of the Exchequer whether taxpayers who pay premiums to colonial life assurance companies are permitted to make any deduction whatever; and, if not, whether a change can be made in the interests of the colonies.
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. RITCHIE,) Croydon
The answer to the first part of the Question is in the negative. The subject is regulated by legislation, and I have no power to interfere.
§ MR. WILLIAM REDMOND
Is the right hon. Gentleman aware that in consequence of this arrangement a great deal of business is put into foreign offices.
§ MR. RITCHIE
I do not know whether that is so, and I should doubt it; but in any case I have no power in the matter, as my action is entirely controlled by the law, which is against such a deduction as is desired by the hon. Member.
MR. GIBSON BOWLES (Lynn Regis)
Is not the law equally against deductions on premiums paid to foreign companies?