HC Deb 06 June 1940 vol 361 cc1014-5W
Mr. Banfield

asked the Chancellor of the Exchequer the total cost to the Exchequer of the concession granted to dealer-members of the London Stock Exchange under Section 42 of the Finance Act, 1920, from 1st September, 1920, to 31st March, 1940; whether a comparable concession was granted during the years 1914 to 1918, inclusive; and will he take steps to suspend forthwith the operation of that Section during the continuance of the present war and for one year after the conclusion of peace?

Sir K. Wood

The amount of duty paid within the period from 1st September, 1920, to 31st March, 1940, under the statutory provisions to which the hon. Member refers was £2,280,454. The total amount which, in the absence of those provisions, would have been paid at the rate of £1 per cent. is £12,064,527. The relief in question was introduced in 1920. I see no ground for suspending it at the present time.