HC Deb 26 November 1968 vol 774 cc283-4
16. Mr. Blaker

asked 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. Diamond

We are already well informed on this subject.

Mr. Blaker

Will 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. Diamond

I do not think that there is any call for publication.

Mr. Emrys Hughes

When undertaking a study of the tax systems of other countries, will my right hon. Friend 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. Diamond

I 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.

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