§ 70. Mr. McKayasked the Chancellor of the Exchequer what has been the increase in the revenue from the 2d. stamp on receipts for cash payments from 1946 to 1954, giving each year separately.
§ Mr. R. A. ButlerThe total yield from stamp duties on receipts during the past nine years is given below:
Stamp duty on receipts Year £ million 1946–47 … … … … 3.3 1947–48 … … … … 4.2 1948–49 … … … … 4.3 1949–50 … … … … 3.9 1950–51 … … … … 3.8 1951–52 … … … … 4.6 1952–53 … … … … 4.7 1953–54 … … … … 4.0 1954–55 … … … … 4.2 The figures for the years 1946–47 to 1949–50 include small amounts in respect of proxies and scrip certificates. These duties were repealed by the Finance Act, 1949. Separate figures for receipts in 22W respect of payments made in cash, as distinct from those made by cheque, are not available.
§ 71. Mr. McKayasked the Chancellor of the Exchequer if he is aware that on cash payments of £2 and upwards it is now the common practice not to put a 2d. stamp on the receipt; and what steps he has taken to prevent this loss of revenue.
§ Mr. R. A. ButlerI have no reason to think that this is a common practice. If, however, instances of failure to stamp receipts are brought to the notice of the Commissioners of Inland Revenue, suitable action by way of warning, pecuniary penalty or legal proceedings is taken in each case.