§ 64. Lord SCONEasked the Chancellor of the Exchequer whether, in order to prevent a repetition of the losses suffered 1154 by British investors who in the past subscribed to issues made in London of foreign government and municipal loans which have since defaulted, he will consider, when framing his next Budget, an increase in the stamp duty applicable to foreign securities with the object of discouraging the flotation in Britain of such loans and preventing the export of goods for which Britain does not receive payment?
Mr. CHAMBERLAINMy noble Friend will not expect inn to anticipate the Budget Statement. I may, however, remind him that the flotation in the London market of any foreign loan is at present discouraged.