HC Deb 15 March 1923 vol 161 cc1776-7
64. Mr. A. T. DAVIES

asked the Chancellor of the Exchequer whether he is aware that the only serious handicap under which British bankers are in competing with the United States for foreign loans is the 2 per cent. duty which is now imposed in this country upon issues of new capital, while in America there is no duty on fresh capital raised there; and whether the present position has been considered with a view to some amelioration at an early date?


I fear I can add nothing to the answer I gave my hon. Friend on this subject on Thursday last.


Is the right hon. Gentleman aware that by charging this 2 per cent. we lost the Chilean Loan, although the Americans cannot hold it, and had to send it over to Great Britain to be taken up?