HC Deb 20 January 1948 vol 446 cc32-3
58. Mr. Erroll

asked the Chancellor of the Exchequer if he will give an assurance that the Government have no intention of introducing a capital levy.

61. Lieut.-Commander Clark Hutchison

asked the Chancellor of the Exchequer whether he is aware that the recent advocacy of a capital levy by supporters of the Government, with its consequent discouragement of thrift, is likely to have an adverse effect on the National Savings Campaign; and if he will make it clear that the Government have no intention of taking confiscatory action of this nature.

Sir S. Cripps

The hon. Member cannot expect me to deal in advance with matters of budgetary policy.

Mr. Stanley

Does the right hon. and learned Gentleman realise, in this particular instance, how impossible these rumours are going to make the task of those of us who are asked and who wish to support the National Savings Movement?

Sir S. Cripps

I am very sorry, but that does not make it any more possible to forecast budgetary policy.

Major Bruce

Is it not a fact that, in the opinion of the Parliamentary Committee which sat upon this subject, the introduction of a single levy would have no possible effect whatever on National Savings?

Sir S. Cripps

I am quite aware of that.

Lieut.-Commander Braithwaite

Pending the introduction of the Budget, can the Chancellor assure the House that the rumours on this subject have no greater foundation than the utterances of the Parliamentary Secretary to the Treasury during the last week?

Sir S. Cripps

No greater foundation, in fact, than any other rumours.