§ 107. Sir J. D. REESasked the Chancellor of the Exchequer whether the dollar deposit scheme is to be extended to sums below £1,000; if so, when; and, if not, why small holders are subjected to the new tax without being allowed the option accorded to large holders of lending securities they wish to retain?
§ 108. Mr. FELLasked the Chancellor of of the Exchequer if he has decided to reduce the amounts of American dollar securities which the Treasury are prepared to accept on deposit below £1,000; and, if so, what is the minimum amount which may be deposited?
§ Mr. McKENNAIt is hoped that arrangements for accepting on deposit securities of nominal value of less than 5,000 dollars (or £1,000) will shortly be completed.
§ Mr. BRYCEAs there are only five days before the time is up, how soon may we expect this arrangement will be completed?
§ Mr. McKENNAI do not think I can agree with my hon. Friend that there are only five days before the time is up.
§ Mr. McKENNAI shall have something to say on the subject later.
§ 113. Mr. BRYCEasked the Chancellor of the Exchequer whether any, and, if so, what, arrangements have been made enabling holders of American securities entitled to claim exemption from the additional 2s. Income Tax to produce documentary evidence to bankers of their right to exemption?
§ Mr. McKENNAThe detailed arrangements in connection with the collection of the additional 2s. Income Tax will be announced shortly. In making these arrangements the point referred to by my hon. Friend will be borne in mind.