§ 54. Mr. BARNESasked the Chancellor of the Exchequer whether he can submit a return to the House showing the number and amount of holdings of all British Government stocks of over £5,000, the dividends on which are exempted from taxation on the ground of the owner's residence being outside the United Kingdom?
§ Mr. BALDWINAs British Government stocks owned by persons resident outside the United Kingdom may be held in bearer form, and as a large volume of British Government stock carries interest paid without deduction of Income Tax at the source, holdings over £5,000 in the ownership of such persons could only partially be identified and any return would be of a very imperfect nature. Its value in these circumstances would not justify me in authorising the expenditure of time and labour necessary for its preparation.