asked the Chancellor of the Exchequer whether he is aware that a number of businesses are seeking, often upon advice, to borrow from their banks for the purpose of taking up Tax Reserve Certificates; and whether this course has the approval of the Government?
§ Sir K. Wood
I am grateful to my hon. Friend for raising this matter. It is entirely contrary to the wishes of the Government that subscriptions to Tax Reserve 1917W Certificates should be financed by borrowed money. I have already announced that the main purpose of the certificates is to help taxpayers who have material sums to meet by direct payment to set aside those sums as their profits or incomes accrue.