§ MR. THORNTON (Clapham)
I beg to ask Mr. Chancellor of the Exchequer whether, as the provisions of the Income Tax Acts which authorise an allowance in respect of life insurance premiums do not include Colonial Government Insurances, he will consider the desirability of so amending these Statutes that Colonial Insurances may be put on the same footing as those issued in the United Kingdom.
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. AUSTEN CHAMBERLAIN,) Worcestershire, E.
As the hon. Member states, legislation is required in order to extend to Indian and Colonial Insurance Companies the exemption from income tax on premiums which is granted to Insurance Offices with head offices in the United Kingdom. I am making inquiries 1325 into the conditions under which Insurance companies carry on their business in the respective Colonies and in India, with a view to finding out whether in each case the same treatment is accorded to companies with local head offices and companies with head offices in the United Kingdom. Until I am in possession of the result of those inquires, I am unable to make any definite statement as to legislation.