§ Sir F. SANDERSONasked the Chancellor of the Exchequer whether he is aware that his recent decision that the time is not opportune for a change in the regulations on the embargo on new capital issues has caused disappointment; and whether he will consider giving a declaration of the Government's reasons for, and intentions as to, continuing an embargo which closes the market to concerns of the highest repute desirous of reducing their burden of tax charges?
§ Mr. HORE-BELISHA:The answer which my right hon. Friend gave to the right hon. and gallant Gentleman the Member for Newcastle-under-Lyme (Colonel Wedgwood) on 6th December must not be understood to mean an indefinite prolongation of the present restriction on optional conversions. My right hon. Friend desires to remove the restriction as soon as possible, but he cannot undertake at present to name any date for the removal.