HC Deb 09 November 1944 vol 404 cc1526-7
36. Captain Sidney

asked the Chancellor of the Exchequer the present position in regard to the issue of Income Tax Post-War Credit Certificates.

Sir J. Anderson

The issue of Post-War Credit Certificates has been practically completed for the years 1941 and 1942, and it is estimated that some 12,500,000 taxpayers now hold certificates showing the amount to be repaid to them after the war in respect of those years. The issue of Post-War Credit Certificates for last year, the Income Tax year 1943–44, may be delayed in many cases, for, owing to the great pressure of work involved in working out the cancellation of tax under "Pay-as-you-earn" and to the shortage of man-power, it will be impossible to issue the certificates at as early a date as in previous years.

Sir Joseph Lamb

Does the Chancellor's expression "after the war" mean after the war in Europe, or after the war generally?

Sir J. Anderson

That is a matter of law, but I should have thought it referred to the war generally.

Mr. Craven-Ellis

Will these payments be made out of taxation, or by the issue of new money?

Sir J. Anderson

That is an entirely separate question.

Mr. Buchanan

Is it the intention to repay these credits in lump sums, or in some other way?

Sir J. Anderson

That is a matter still to be determined. It will be within the control of this House.

Mr. George Griffiths

If people leave these credits later than the time when they are due, will they receive 2½ per cent. from the Post Office?

Sir J. Anderson

There is no specified time at which they are due.