§ 70. Sir COOPER RAWSON
asked the Chancellor of the Exchequer if, in order 1448 to improve the demand for home industrials and consequently benefit unemployment by transverting British capital invested in foreign stocks to home industrials, he will consider the imposition of a higher rate of tax on all incomes derived from foreign investments and a reduction of tax in respect of incomes derived from investments in Great Britain, the Dominions and Colonies, and from investments in businesses established in foreign countries where 50 per cent. or more of their working expenses represent British labour and materials?
§ Mr. P. SNOWDEN
I doubt if the hon. Member's suggestion is practicable, but in any case I could not anticipate the Budget statement.
§ Sir C. RAWSON
Does not the right lion. Gentleman appreciate that I am not asking him to anticipate his Budget statement, but to consider this proposal, which is, apparently, a new one?
§ Mr. SNOWDEN
I do not think it is a new one. Of course, I am always prepared to consider any proposal that is submitted to me.