§ Mr. Greenwayasked the Chancellor of the Exchequer if he will allow building societies to increase the limit of individual holdings to £40,000; and if he will make a statement.
§ Mr. MooreI have no plans to do so.
The limit up to which an individual may invest in a building society and receive interest after deduction of tax at the composite rate is fixed as part of the special arrangements concluded annually between the building societies and the Board of Inland Revenue by virtue of section 343 of the Taxes Act.