§ Major M. WOODasked the Chancellor of the Exchequer if he is aware that the Inland Revenue authorities in Edinburgh have required a stamp of £31 5s. to be impressed on a sinking fund policy for £25,000 issued by a Scottish insurance company to an English client, whereas on a similar policy issued by an English company in conned ion with the same transaction their policy has been assessed in London at 6d. only; and, if so, whether he will take steps to remedy this inequality?
§ Mr. BALDWINThe facts are as stated. The point arises from a difference between Scottish and English law as to what constitutes a bond. I agree with the hon. and gallant Member in deprecating a difference in the incidence of the Stamp duties between the two countries, but I am not prepared to say without further inquiry that on balance the difference is to the detriment of Scotland.