§ 71. Mr. Dykesasked the Chancellor of the Exchequer whether he will make a statement on the official studies now proceeding on effective ways of controlling joint-stock bank advances and the credit supply.
§ Mr. Maurice MacmillanMy right hon. Friend has these matters under continuous review but he has no further statement to make at the present time.
§ Sir R. Thompsonasked the Chancellor of the Exchequer whether he will authorise inspectors of taxes to assume that, when bank borrowing is partly for eligible purposes and partly for non-eligible purposes, any reduction in the borrowing is in respect of non-eligible borrowing.
§ Mr. Patrick JenkinThe rules for the attribution of bank overdraft interest, which are laid down by Section 63 of the Income and Corporation Taxes Act, 1970, 283W as amended, have broadly the effect suggested by my hon. Friend. If he has a particular case in mind, I shall be glad to look into it.