HC Deb 17 April 1961 vol 638 cc814-5

There are certain other small items.

I propose that a limited tax relief shall be authorised for certain income arising to pensions funds set up in this country for employees who work overseas.

I propose to make a change with regard to the returns made by Industrial and Provident Societies. At present, they have to make returns of interest paid on loans—but not interest paid on shares—where the amount paid to a depositor exceeds £5. I propose that they shall be required to make returns where the combined amount of loan and share interest exceeds £15.

As I announced last November, I propose to increase by £20 the income limits for the dependent relative allowance in view of the higher National Insurance retirement pensions now payable.

Provision will also be made in the Finance Bill authorising payments into and from the Consolidated Fund in respect of National Savings Stamps and gift tokens. This is a necessary consequence of the new financial relationship between the Post Office and the Exchequer.

For reasons which I have explained in a reply today to a Question by my hon. Friend the Member for Denbigh (Mr. Morgan), I am proposing to include in the Finance Bill provisions for the final redemption of the Ottoman Guaranteed Loan, 1855. I shall in due course move the Special Procedure and Money Resolutions which will be necessary for this purpose.

Finally, on the Customs and Excise side, there is a change in the provisions about pool betting duty so as to amend the definition of pool betting, and I shall be moving a special procedure Resolution to enable us to deal in the Finance Bill with certain proposals relating to pool betting duty which are at present under discussion with the Government of the Isle of Man.