§ The following question stood on the Paper in the name of Mr. GIDEON MURRAY:
§ 97. To ask the Chancellor of the Exchequer whether he is aware that the present Stamp Duty of 1 per cent, on transfers of stocks and shares is a serious deterrent to the transfer of this class of property and is disproportionate as com- 415 pared with the duty leviable on the transfer of other property and commodities; and whether, in view of the fact that the reduction of this charge would lead to increased business and a freer exchange of stocks and shares, thus removing one of the present clogs in the wheels of trade, he will consider in the next Budget the desirability of reducing this Stamp Duty to a lower level and, if possible, to its former level of one-half of 1 per cent.?
Mr. MURRAYBefore putting this question, may I ask, on a point of Order, why it is that questions to the Chancellor of the Exchequer come on the Order Paper so long after the questions to the Financial Secretary to the Treasury, and in future will you say, Sir, whether it is better to put down questions to the Financial Secretary to the Treasury, in order to have an answer at an earlier stage of the proceedings?
§ Mr. SPEAKERIf the hon. Member will be good enough to look at the list in the "No" Lobby, he will see the order in which questions are arranged.
Mr. YOUNGMy hon. Friend will appreciate that my right hon. Friend the Chancellor of the Exchequer cannot anticipate the Budget statement. He must not, however, be taken as admitting either that the transfer duty of 1 per cent, is a serious deterrent to business, or that the reduction of the duty would necessarily of itself lead to an increase of business.