§ Mr. W. THORNEasked the Chancellor of the Exchequer if he is aware that the Danish Parliament have put into operation the capital levy for the purpose of reducing the State debt; and if he is in a position to state whether any other country has put the capital levy into operation?
§ Mr. SNOWDENI am aware that proposals have recently been placed before the Danish Parliament for a levy on capital for the purpose of reducing the debt, but the text of the proposals, which have not yet become law, has not yet reached me. Special taxes on capital have been levied or are in operation in Austria, Czechoslovakia, Germany, Greece, Hungary, Italy, Norway, Poland and Switzerland. The various taxes differ widely in scope and character and range from a non-recurring 1573W graduated tax levied on total capital to an annual tax levied at low rates over a period of years.