§ 54. Mr. Dolandasked the Chancellor of the Exchequer whether he is prepared to receive payments now on account of Income and Supertax becoming due on 1st January, 1941, in order to relieve suspicion that persons holding bank balances for the purpose of paying future taxation are not loaning their balances to the Government?
§ Sir K. WoodAs stated in the answer which I gave on 9th July to a Question by my hon. and gallant Friend the Member for Newbury (Brigadier-General 602 Clifton Brown), persons who cannot make loans to the Government free of interest for the duration of the war but who desire to lend money free of interest for a shorter period, till their tax liabilities fall due, can make advance payments in respect of future tax liabilities to the Board of Inland Revenue at Somerset House.
§ 55. Mr. Hicksasked the Chancellor of the Exchequer what response he has received up to date to his appeal for loans to the Government free of interest; and from what sources such response has been derived?
§ Sir K. WoodThe total amount received in loans free of interest up to this morning is £14,806,000. In addition, large numbers have waived interest on Savings Bank deposits and Government securities. The response has come from all sections of the community, and I wish again to express my thanks to all who have helped in this way.
§ Sir K. WoodNo, Sir, I should like to see it greatly improved.
§ Mr. DenvilleWhy has not the Minister encouraged this sort of thing?
§ Mr. HicksWill it be possible for the Chancellor to specify a little more clearly the sources from which he is getting this money?
§ Sir K. WoodThat is not the practice, but I would say that I am indebted to the trade union with which my hon. Friend is associated for their help in this direction.
Mr. DavidsonCan the Minister say whether the banks have responded as ably as the trade union movement?
§ Sir K. WoodThe banks have made a very good response in many ways.
§ Mr. MaxtonThat would be black-legging.