§ Mr. HAYDN JONES
asked the Chancellor of the Exchequer (1) whether, under Section 27 of the Finance (No. 3) Bill, it is intended that bankers shall deduct Income Tax from the interest payable on all deposits; whether he is aware that in many rural districts 80 per cent. of the depositors are exempt from the payment of Income Tax; and whether some method will be adopted whereby depositors who are exempt shall be relieved of the necessity to reclaim; also (2) whether, under Section 27 of the Finance (No. 3) Bill, it is intended to deduct Income Tax from interest payable on deposits in the Post Office Savings Bank?
§ Mr. McKENNA
As I have already indicated, it is not proposed to proceed with Clause 27 in its present form, and the modification of its terms is now being considered.