§ 64. Mr. Woodburnasked the Chancellor of the Exchequer whether he will state the total amount for each of the war years paid to and via the banks of Britain on account of interest and other benefits arising from the several forms of borrowing and bank investment in Government loans.
§ Sir J. AndersonWhile I have no doubt that a high proportion of interest on Government borrowing is paid through the banks, the detailed information is not available, and I would not be justified in arranging for the elaborate investigations which would be required in order to provide it.
§ Mr. WoodburnIs it not possible to give the total amount of interest paid to banks whether for direct investment or as agents?
§ Sir J. AndersonIf the Question is put down in a different form I will reconsider the matter, but to give the information asked for would involve a very long investigation.
§ Mr. MolsonIs it not the case that the banks pay no Excess Profits Tax, which indicates that no excessive profits have been made?
§ Mr. WoodburnThe Question says nothing about excess profits. It is a 36 simple question as to the total amount of interest paid to banks.
§ Sir J. AndersonI shall be glad to explain to the hon. Member why the Question is not as simple as he thinks.