§ Mr. Gouldasked the Chancellor of the Exchequer what is the loss to the Exchequer arising from the non-taxation by the Inland Revenue of income derived from United Kingdom sources paid to residents of the Channel Islands.
§ Mr. Robert SheldonNo figures are available. Channel Islands residents may derive income from United Kingdom sources in a wide variety of ways. In general they are liable to United Kingdom tax on such income, though if they are not ordinarily resident in the United Kingdom, they may, like other persons so situated, be entitled to the statutory exemption from United Kingdom tax on interest on certain United Kingdom Government securities.