§ Mr. DOUGLAS HALLasked the Chancellor of the Exchequer whether his attention has been called to the action of the Bank of England on Tuesday last, in deducting 1s. 2d. in the £ for Income Tax from those dividends payable by the Bank on that day; whether such action was at his suggestion and meets with his approval; and whether he can say by what right or authority the Bank of England can make deductions from dividends payable by the Bank, which deductions are not authorised by Statute or Resolution of the House of Commons?
§ Mr. LLOYD-GEORGEI must refer the hon. Member to the reply on this subject which I gave yesterday to the hon. Member for Thanet.
§ Mr. DOUGLAS HALLMight I point out that the right hon. Gentleman did not, in his reply to the hon. Member for Thanet, answer the final part of my question, which was whether he can say by what right or authority the Bank of England can make deductions from dividends payable by the Bank, which deductions are not authorised by Statute or Resolution of the House of Commons?
§ Mr. LLOYD-GEORGEThe hon. Member is perfectly right, but I did answer it last week. If anyone protests against the deduction, then it cannot be done, but up to the present there has been no protest at all, and the Bank has proceeded to deduct it.