§ Mr. Campbell-Savoursasked the Chancellor of the Exchequer (1) whether he will estimate the money value of the tax benefit to the banks of section 233 of the Taxes Act 1970 in the last financial year;
(2) whether he will estimate the money value of the interest benefit for borrowings from the clearing banks and other banks under section 233 of the Taxes Act 1970 in the last financial year.
§ Mr. RidleyNegligible. Borrowing of the kind referred to is a fairly recent development.
§ Mr. Campbell-Savoursasked the Chancellor of the Exchequer whether he will seek to modify the arrangements for reduced interest rate borrowings under section 233 of the Taxes Act 1970 to exclude any financial benefit to the banks and yet safeguard the interest rate relief for commercial borrowers.
§ Mr. RidleyI have noted the hon. Gentleman's suggestion.