§ Sir William Clarkasked the Chancellor of the Exchequer, pursuant to his answer of 13 January, Official Report, column 510, what action Her Majesty's Government have undertaken to persuade the United States Congress to retain in its present form the exemption from federal excise tax presently enjoyed by United Kingdom insurance companies.
§ Mr. MooreWe have made representations to both the United States Treasury and the United States Senate Finance Committee recording our concern that current United States proposals would override the United Kingdom-United States double taxation convention. We have also sent to the United States authorities a detailed study arguing that there is no evidence of abuse of the exemption provided for in the convention.