§ MR. WEIR (Ross and Cromarty)
I beg to ask Mr. Chancellor of the Exchequer, having regard to the fact that the London and Westminster Bank, Limited, as agents for the Cape Government, deducted from stockholders of the £9,997,566 Four per cent. Consolidated Inscribed Stock £166,626, representing 4d. in the £ in excess of the amount due for income-tax on the 15th April last, will he state how much of the sum thus overpaid has been returned to the stock-holders by the Board of Inland Revenue.
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. AUSTEN CHAMBERLAIN,) Worcestershire, E.
The hon. Member has calculated the excess of income-tax deducted at 4d. in the £ on the capital value of the stock, instead of on the half-yearly dividend of 2 per cent, on that value—thus multiplying by fifty the amount of excess income-tax, which was no more than about £3,300. To 978 ascertain what amount of this overpayment has been repaid to claimants would involve a large amount of labour, which could not be undertaken without seriously impeding the examination of claims for the current year, at what is almost the busiest season of the year.