§ 63. Mr. LOUGHasked the Secretary to the Treasury what is the estimated revenue received from the Id. stamp on cheques during the last financial year; whether he has obtained an estimate of the number in stock of cheques printed, stamped, and distributed in books by the various banks throughout the United Kingdom on a given date; and, if so, what it is?
§ Mr. BALDWIN (Joint Financial Secretary to the Treasury)The estimated revenue derived from the duty of ld. was, in the last financial year, £1,340,000. As regards the last part of the question, the available information is not complete, but I am disposed to think that the normal stock does not, on the average, exceed three months' supply.
§ Mr. FRANCEHas the hon. Gentleman taken into account the fact that, if these firms are paying Excess Profits Duty, the Chancellor of the Exchequer will pay four-fifths of this tax himself?