§ Mr. BOTTOMLEY
(by Private Notice) asked the Chancellor of the Exchequer whether he will consider the propriety of extending the date for the closing of subscriptions to the Victory Loan over the 19th instant, in order that advantage may be taken of the Peace celebrations to secure further applications?
I have carefully considered this suggestion, and taken advice upon it, but I have come to the conclusion that it would not be advantageous to extend the period for which the lists are open.
§ Mr. BOTTOMLEY
Will the right hon. Gentleman make some representation to the Treasury to expedite payment of the gratuities, in view of the fact that the delay in paying them is keeping many people from subscribing?
It is not a question for the Treasury. It is the military authorities, and I believe the administration are anticipating the payments of gratuities. Arrangements have been made by which the gratuities to which Regular 1616 and temporary officers of the Army and Air Force, at present serving, will become eligible may now be invested in either Victory Bonds or Funding Loan. Officers who have not already made arrangements with their agents or bankers to take up War Loan in anticipation of the receipt of their gratuities, and who wish to take advantage of this concession, should immediately inform (by telegram, if necessary) their Army and Air Force agents, stating the sum they wish invested.
Applications must be received on or before Saturday, the day the Loan closes, and must clearly state that the investment is to be made from the officer's gratuity, and that the amount required is in addition to any sum for which he may already have applied. The securities will be handed over to the agents on the officer's behalf for issue with any balance of gratuity. Gratuity so invested will bear interest as from 4th August, 1919. Income Tax will not be deducted at the source.
§ Major M'KENZIE WOOD
Are not two-thirds of the gratuities already available paid for War Saving Certificates?
I cannot answer that without notice, but it does not seem to affect the merits of the answer I have already given.