United Kingdom and Isle of Man (Fiscal Policy)

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 29th November 1960.

Alert me about debates like this

Photo of Sir Gerald Nabarro Sir Gerald Nabarro , Kidderminster 12:00 am, 29th November 1960

asked the Chancellor of the Exchequer what steps he takes to assure that there is consonance in fiscal policy between the United Kingdom and the Isle of Man.

Photo of Mr Selwyn Lloyd Mr Selwyn Lloyd , Wirral

The normal machinery for consultation between the United Kingdom and Isle of Man Governments ensures that we have an opportunity of commenting on any financial measures under consideration in the Isle of Man which might affect the United Kingdom.

Photo of Sir Gerald Nabarro Sir Gerald Nabarro , Kidderminster

Yes, but I hope that my right hon. and learned Friend will comment quite soon. Is he aware that a Measure has practically completed its passage through the Tynwald to abolish Surtax in the Isle of Man? Would he not regard that as an excellent example for his behaviour in his next Budget? In any event, will not this have a grave effect upon his revenue from Surtax in this country, leading, as it undoubtedly will, to substantial transmigration of Surtax payers to the Isle of Man?

Photo of Mr Selwyn Lloyd Mr Selwyn Lloyd , Wirral

In reply to the latter part of my hon. Friend's supplementary question, I am not apprehensive about the consequences. As for the earlier part, he will, of course, not expect me to anticipate my Budget statement.