§ 57. Mr. Craven-Ellisasked the Chancellor of the Exchequer what proportion of Income Tax ruling for the financial year 1940–41 relates to interest on all money facilities placed at the disposal of the Treasury for the year ended 31st March, 1941?
§ Sir K. WoodI am not quite clear as to the precise information required by my hon. Friend, but if it relates to the Income Tax payable on the interest paid on British Government securities in 1940–41 the amount of Income Tax deducted at the source was about £50,000,000. In addition about £20,000,000 was assessed direct on the recipient in respect of interest which is paid in full under the terms of the issue.