HC Deb 21 April 1926 vol 194 cc1211-2
61. Sir W. DAVISON

asked the Chancellor of the Exchequer whether he is aware that it is not generally known to the public that holders of 5 per cent. War Loan can, by instructing the Bank of England, have Income Tax deducted at the source from dividends, thereby in many cases saving trouble and expense both to the individual and to the State; and whether, in the interests of economy, he will issue a leaflet giving the above information with the next issue of War Loan dividends?


The Treasury would welcome an extension of the practice of asking the bank to deduct Income Tax at the source from dividends on 5 percent. War Loan, but it is not considered that the public response would justify the expense of sending out 2,000,000 circulars.


Will the right hon. Gentleman extend that invitation to banks and other forms of interest such as the interest on deposit receipts?


Does not the Treasury think it desirable the public should be informed in some way of this fact of which they are generally ignorant?


I have no doubt my hon. Friend's question will have that effect.