Speculative Transactions (Stamp Duty).

Oral Answers to Questions — Public Health. – in the House of Commons on 8th July 1937.

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Photo of Mr Ellis Smith Mr Ellis Smith , Stoke-on-Trent Stoke

asked the Chancellor of the Exchequer whether he will take steps to raise the Stamp Duty upon stock, share, and commodity transactions, so far as they are speculations and not investment transactions, in view of the fact that gambling for the rise and fall in prices affects the cost of material and reacts on confidence and on industry in many ways?

Photo of Mr John Simon Mr John Simon , Spen Valley

No, Sir. I do not consider that the hon. Member's suggestion is a practicable one for the purpose that he has in view.

Photo of Mr Ellis Smith Mr Ellis Smith , Stoke-on-Trent Stoke

In view of the way in which these people have exploited the national situation, could not steps be taken to discourage a repetition of this exploitation?