§ 63. Sir W. DAVISONasked the Postmaster-General when he expects to be able to make a statement to the House with regard to the forfeiture or partial forfeiture of National Savings Certificates held by the nominees of the Committee of Addison Gardens, Kensington; whether he is aware that this matter has been under consideration by the Post Office and the Treasury for nearly a year; and what is the cause of the delay in arriving at a decision?
§ The POSTMASTER-GENERAL (Sir Kingsley Wood)As I recently informed my hon. Friend, a decision has now been reached, and a letter will be sent shortly to the Addison Gardens Committee.
§ Sir W. DAVISONIn view of that communication, which I understand says that Income Tax has to be deducted, on what amount is Income Tax to be paid? Is my right hon. Friend aware that the trustees of these gardens took national 811 savings certificates for the reason that there was no Income Tax payable; otherwise, they would have bought Funding loan or other stock which would now have shown a large appreciation in value?
§ Sir K. WOODMy hon. Friend knows that the Committee were not authorised holders of the stock, and, in the circumstances I would suggest that they should seriously consider the concession that has been offered to them.