HC Deb 29 May 1930 vol 239 c1504W

asked the Chancellor of the Exchequer in view of the fact that the interest on money borrowed to pay premiums on a life policy is not allowed as a deduction from income liable to Surtax, while the interest on money borrowed for the purpose of purchasing non-income-producing valuables such as pictures and jewellery is allowed, whether he will explain the reason for discriminating against life assurance?


I think it would be better if the hon. Member would be good enough to await the discussion of Clause 12 of the Finance Bill.