§ 16. Mr. Blakerasked the Chancellor of the Exchequer whether he will undertake a study of the tax systems of other advanced industrial countries for the purpose of ascertaining which of them have different provisions for investment income and other income.
§ Mr. DiamondWe are already well informed on this subject.
§ Mr. BlakerWill the Government publish the result of their inquiries in the Official Report? Does not he think that the increasing discrimination that Britain has imposed on investment income may be one of the factors explaining the decline in savings ratio?
§ Mr. DiamondI do not think that there is any call for publication.
§ Mr. Emrys HughesWhen undertaking a study of the tax systems of other countries, will my right hon. Friend 284 endorse President de Gaulle's view that speculation against one's currency is unpatriotic and should be prosecuted? When my right hon. Friend is considering the tax system in the U.S.S.R., will he find out what happens to speculators there?
§ Mr. DiamondI hope my hon. Friend will relieve me of responsibility for what happens in the Soviet Union. I gave a fairly full answer last night on the subject of speculation and made it clear that illegal speculation is subject to prosecution.