Trade Facilities Acts.

Oral Answers to Questions — Scotland. – in the House of Commons at on 10 March 1925.

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Photo of Mr Irving Albery Mr Irving Albery , Gravesend

56.

asked the Chancellor of the Exchequer whether he will consider the advisability of imposing a tax of 1 per cent. annually on the capital amount of all loans in future raised with the British Government guarantee under the Trades Facilities Act, seeing that this, besides being of benefit to the Exchequer; would overcome many of the objections inherent in the present emergency measure?

Photo of Mr Winston Churchill Mr Winston Churchill , Epping

I am not prepared to adopt this suggestion, which would clearly deprive most borrowers of any inducement to come forward with schemes under the Trade Facilities Acts.

Photo of Mr Robert Morrison Mr Robert Morrison , Tottenham North

57.

asked the Financial Secretary to the Treasury whether a contract secured by the Royal Mint for 140,000,000 copper coins for Lithuania has been sub-let to the King's Norton Metal Company, of Birmingham; and, if so, what were the reasons for sub-letting, in view of the fact that 37 men have recently been discharged from the Royal Mint owing to lack of work?

Mr. GUINNESS:

The order in question, which is for 42,000,000 coins, was obtained independently by the King's Norton Metal Company. The Royal Mint, however, assisted by undertaking to manufacture the necessary punches and inspect the finished coins on behalf of the Lithuanian Government.