§ Mr. Woollam
asked the Chancellor of the Exchequer whether he will have prepared and placed in the Library a memorandum explaining the administrative 43W problems in the way of according Overseas Trade Corporation status to British shipping companies, and giving an account of any discussions held with the shipping industry on this problem.
§ Mr. Simon.
No. Shipping companies were excluded from the Overseas Trade Corporation scheme introduced in 1957 because under double taxation agreements they are commonly taxed only in the country where the company is resident.