HC Deb 22 October 1979 vol 972 cc55-6W
Mr. Hooley

asked the Chancellor of the Exchequer what steps he intends to take to tax the windfall profits of the clearing banks arising from his current policy of maintaining a high minimum lending rate.

Mr. Peter Rees

Additional profits made by clearing banks as a result of fluctuations in the minimum lending rate are taxed under existing provisions in the normal way.