§ Mr. Marlow
asked the Chancellor of the Exchequer whether he will take steps to impose an excess profits tax on the clearing banks.
§ Mr. Lawson
As I said during the debate on the Finance (No. 2) Bill on 3 June—[Vol. 985, c.1282–86]—to introduce a discriminatory tax on the profits legitimately earned of one particular sector of the economy requires a strong case to be made. I was unconvinced of the justification for such a tax during the current financial year, but the possibility remains under review.