HC Deb 12 May 1964 vol 695 cc207-8
16. Mr. Hendry

asked the Chancellor of the Exchequer what is the anticipated loss to the revenue in a full year as a result of the tax relief schemes now being offered by hire purchase companies which have the effect of giving tax relief in respect of interest on hire-purchase agreements.

Mr. Green

This will depend on how widely the schemes are adopted.

Mr. Hendry

Does my hon. Friend think that the Hire-Purchase Bill which is at present before Parliament will stop up this loophole? If not, what other steps does he propose to take to do so?

Mr. Green

The best thing that I can say to my hon. Friend is that I have noted his suggestion. I will certainly consider it, but I have to say to him that at first sight I am not too sure that I can justify adopting it.

Mr. Callaghan

Is not it an interesting example of unconscious bias that the hon. Member for Aberdeenshire, West (Mr. Hendry) should want to stop tax relief on hire-purchase payments when no doubt he and other people have managed to get tax relief on their bank interest payments year after year?

Mr. Green

I suppose that there are two forms of bias to be disclosed across the Floor of the House.

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