HC Deb 07 April 1959 vol 603 c50

I propose, also, to deal with a new form of the device technically known to the initiated as "bond washing", under which certain dealers in securities and exempt institutions are making a quick and illegitimate profit at the expense of the Revenue by purchases of securities cum-dividend and their sale ex-dividend. There will be full safeguards for normal legitimate business. The details will appear in the Finance Bill.

I come now to tax reductions, and shall start with a number of comparatively small proposals which together will be of benefit to quite a lot of people.