§ 49. Mr. CASSELasked whether any, and, if so, what instructions or directions have been given to the Bank of England with regard to the deduction of Income Tax from interest on Government securities on and after the 5th April, 1913?
§ 50. Mr. CASSELasked whether it is proposed to deal with the decision in Bowles v. Bank of England in the Finance Bill of the year or in a separate Revenue Bill; and whether the Government will take such Bill at the earliest possible moment after the 31st March?
§ The CHANCELLOR of the EXCHEQUER (Mr. Lloyd George)As stated by the Prime Minister on Thursday last, it is proposed to deal with the decision in a Revenue Bill which I hope to introduce at an early date.
§ Mr. CASSELThe right hon. Gentleman has not answered the question with regard to directions to the Bank of England?
§ Mr. LLOYD GEORGEI think it would be better to deal with this when the Bill conies up for discussion. It is difficult to deal with a matter of this kind by question and answer.
§ Lord ROBERT CECILHave any instructions or directions been given?
§ Mr. LLOYD GEORGEI think that I had rather not say. It would be to answer the question piecemeal. I would rather present the full case.
§ Mr. CASSELIs the right hon. Gentleman aware that the only course open to the Bank of England will be to comply with what is now ascertained to be the law? I beg to give notice that I will raise this matter on the Motion for Adjournment.