§ Mr. Ridley
asked the Chancellor of the Exchequer whether the 2d. stamp duty charges on cheques will be charged on transactions with the Post Office Giro.
§ Mr. Harold Lever
Some (but not all) giro documents fall within the stamp duty definition of a "bill of exchange" and would accordingly be liable to cheque duty but for the exemption under section 84 of the Post Office Act, 1953, of documents executed for the purposes of the Post Office. Under the Post Office Act, 1961, the Post Office makes an equivalent payment into the Exchequer. Under the Post Office Bill now before Parliament the documents in question will become liable to cheque duty, and it is contemplated that the Post Office will in due course enter into composition arrangements with the Commissioners of Inland Revenue under section 39 of the Finance Act, 1956, and section 57 of the Finance Act, 1968.