§ 85. Mr. WATT
asked the Chancellor of the Exchequer whether it is the rule of his Department to grant rebates of Income Tax on dividends on stocks held by bankers and stockbrokers throughout the country against loans; and, if so, will he explain why some of the employés of his 674 Department refuse altogether such repayment while permitting repayment when title deeds of real property are the security?
§ The CHANCELLOR of the EXCHEQUER (Mr. McKenna)
If my hon. Friend refers to the provisions for repayment of Income Tax contained in Section 22 of the Finance Act, 1915, I may explain that no distinction is made between loans secured on stocks and loans secured on real property.