§ Squadron-Leader Flemingasked the Chancellor of the Exchequer whether he is aware of the second State War Loan issued by the Union of Soviet Socialist 1019W Republics on or about the 7th June, 1943, the terms of which were published in the "Soviet War News" of that date; and whether he will consider the advisability of floating a loan on similar terms in the United Kingdom, particularly the exemption from taxation of all moneys subscribed?
§ Sir K. WoodI am aware generally of the terms of the Soviet State War Loan referred to, but I think the terms of our war loans must be based on the accepted borrowing policy of this country rather than on the terms adopted in other countries.