§ Mr. YOUNGERasked Mr. Chancellor of the Exchequer whether his attention has been called to Section 10 of the Act of 52 and 53 Vic., c. 42, allowing a discount at the rate of 2½ per cent. per annum on prepayments of Income Tax, instead of 5 per cent., as allowed by the Act of 5 and 6 Vic., c. 35; and whether he will say what, if any, dubiety exists in the interpretation of that provision?
§ Mr. LLOYD-GEORGE:Section 10 of the Act 52 and 53 Vic., c. 42, provides that "the allowance to be made under Section 141 of the Act of the Session held in the 5th and 6th years of Her Majesty's reign, Chap. 35, shall be at the rate of £2 10s. per cent. per annum in lieu of the rate of £4 per cent. per annum." There does not seem to be any room for doubt as to the interpretation of this provision.