HC Deb 04 May 1939 vol 346 cc2066-7
62. Sir Charles Cayzer

asked the Chancellor of the Exchequer whether the Treasury still regards it as essential to put a ban on overseas investment; and whether he is aware of the desire of the City that a lead should be given to the market in this matter?

Sir J. Simon

I would refer my hon. Friend to the statement I made on Tuesday last in reply to a supplementary question by my hon. Friend the Member for Tamworth (Sir J. Mellor). In view of that and previous statements, there can. be no reason for any doubts as to the Government view.

Sir C. Cayzer

Does not the right hon. Gentleman consider that this should apply impartially to all alike?

Mr. Mander

Does the Chancellor of the Exchequer intend to ask for any compulsory powers in this matter, or does he think that a voluntary appeal to the financial interests concerned will be sufficient?

Sir J. Simon

In this particular case there are many questions involved connected with finance. It is a very grave matter indeed to suggest that the appeal I have made will not get a fair response. I have every reason to believe that it will.

Mr. Thorne

Has the right hon. Gentleman considered the advisability of putting a heavy tax on overseas investments?