§ 75. Mr. Nabarroasked the Chancellor of the Exchequer What would be the cost to the Revenue in a full year of allowing interest on hire-purchase transactions, as in the case of house mortgage interest, to be charged by the purchaser against his or her liability to Income Tax and Surtax.
§ Sir E. BoyleUnder the normal hire-purchase agreement interest is not payable as such. The cost of altering the law so as to give tax relief on some part of hire-purchase instalments would depend on the precise terms of the legislation.