§ Sir Trevor SkeetTo ask the Chancellor of the Exchequer what is the cost to building societies as a result of the composite rate of tax; and what assessment he has made of the extent of the relief that could he extended to borrowers if the tax were ended.
§ Mr. Lilley[holding answer 22 February 1990]: Building societies and other deposit-takers account for composite rate tax on interest paid to depositors and I am not aware of any particular cost to those institutions. It is not clear that any relief would be extended to borrowers if the tax were ended.