§ Mr. T. GRIFFITHSasked the Chancellor of the Exchequer the intentions of the Government regarding the imposition of a tax on war fortunes as recommended by the Select Committee?
Mr. CHAMBERLAINI would refer the hon. Member to the statement on this subject which I made to-day at the close of Questions.
§ Mr. HOGGEasked the Chancellor of the Exchequer whether he is aware that in the prospectuses issued by the Government inviting public subscriptions to Five per Cent. War Loan, National War Bonds, Funding Loan, and Four per Cent. Victory Bonds a definite assurance was given that the bonds of these issues and the interest payable from time to time in respect thereof will be exempt from all British taxation, present or future, if they are in the beneficial ownership of persons who are neither domiciled nor ordinarily resident in the United Kingdom of Great Britain and Ireland; and, in the event of the Government deciding to make a levy on war-time wealth, if he proposes to collect the said levy from holders of these bonds of loans who have invested their war-time wealth in the same, and who conform to the conditions set forth in the said prospectuses, or whether these investors are exempt from this or any other levy or any form of taxation?
Mr. CHAMBERLAINThe undertaking that holdings of the issues named if shown to be in the beneficial ownership of persons neither domiciled nor ordinarily resident in the United Kingdom would be exempt from all British taxation, present or future, was given without reserve. It applies also to holdings of 5 per cent. Exchequer Bonds, 1920, 1921 and 1922, and 5¾ Exchequer Bonds, 1925.