§ 49. Mr. Keeling
asked the Chancellor of the Exchequer why the certificates of deduction of Income Tax from the interest paid on British Transport 3 per cent. guaranteed stock are in some cases signed by the Transport Commission and in others by the Bank of England.
§ Mr. Glenvil Hall
For technical reasons associated with the magnitude of the operation interest on a part of the Transport Stock is at present being paid direct by the Commission and part by the Bank of England. This is a temporary measure which will be discontinued so soon as transfer of all the Stock to the Register of the Bank of England has been completed. In both cases the Income Tax certificate will be accepted by the Inland Revenue in respect of claims for exemption or relief from tax.