§ Sir HILDRED CARLILEasked the right hon. Gentleman the total value of newly-created capital in connection with companies with limited liability registered in the United Kingdom for the first half-year of 1910 and of 1911?
§ Mr. HOBHOUSEDuring the first half-year of 1910 and of 1911 there were registered in the United Kingdom companies with a share capital of £209,971,849 and £88,128,472 respectively. These figures do not include loan capital.
§ Sir HILDRED CARLILEDid the right hon. Gentleman say 1909. That is not the year mentioned. I asked for the first half-year of 1910 and 1911.
§ Mr. HOBHOUSEThose are the years I have given.
§ Sir HILDRED CARLILECan the right hon. Gentleman account for the serious diminution in the figures?
§ Mr. HOBHOUSEYes, very easily. There is a very large amount of money standing at the banks which in the ordinary circumstances would have been paid into the Exchequer, money due for Income Tax and other taxes, and this was employed in the flotation of companies by the banks and other company promoters.