§ Mr. Austin Mitchellasked the Chancellor of the Exchequer whether he will use his powers under the Bank of England Act to require the banks to supply information concerning the transfer of assets abroad by United Kingdom residents to facilitate the collection of tax due on the income earned from such assets.
§ Mr. Ian StewartI am advised that neither the Treasury's nor the Bank of England's powers under the Bank of England Act 1946 could be used for this purpose.