HC Deb 14 July 1915 vol 73 c824
31. Mr. R. MCNEILL

asked the Chancellor of the Exchequer if he is aware that trustees and others are unable to determine whether the discount payable to subscribers to the War Loan on payment of the instalments in advance should be treated as capital or as interest; and whether he will make a statement on the subject for the guidance of investors?

The CHANCELLOR of the EXCHEQUER (Mr. McKenna)

This is a question which arises in various forms, and is a matter for legal advice according to the circumstances of each case.