§ Mr. Leeasked the Chancellor of the Exchequer what steps he is taking to ensure that private capital flowing out of the United Kingdom and into EEC countries does not find its way into industries in direct competition with United Kingdom industries.
§ Mr. DellExisting powers under the Exchange Control Act 1947 ensure that all outward investments are financed in ways which very largely avoid any direct export of capital. Applications for consent are considered in the light of the expected effects on our balance of payments, including industrial aspects.72W imported wine and made-wine is payable at importation or delivery from bonded warehouse.
Beer. For British beer, duty is assessed when the beer is brewed, and before fermentation, but payment is generally deferred until the 25th day of the following month. For imported beer, duty is payable at importation or delivery from bonded warehouse.
The practice of other EEC Member States is generally to allow some measure of deferment of payment of excise duties, but there are variations not only in the allowable periods but also in the stages from which deferment time is reckoned. In most of these countries the bonded warehouse system is less widely available than in the United Kingdom. Deferments within the following limits are understood to be available: