§ Mr. BAKERasked the President of the Board of Trade whether, in view of the fact that the Chancellor of the Exchequer stated, on 4th May, 1915, that pre-War investment overseas of British capital amounted to 24,000,000,000, he will give the estimated total of overseas investments for Great Britain and for the United States of America, both at the end of the War and at the present time, distinguishing between investments in State and municipal loans and other investments and investments within and without the British Empire; and whether he will indicate how far the position in regard to overseas investment has been affected by the imposition of the addi- 77W tional Income Tax of 2s. in the pound on income derived from foreign securities as a penal measure during the War?
Mr. GRAHAMI regret that I have no special information on which to base the estimates for which the hon. Member asks. I do not think the imposition of a special tax for a brief period during the War on persons who did not deposit certain foreign securities with the Treasury is likely to have had any particular effect on investment.