§ Mr. Barnett
asked the Chancellor of the Exchequer what estimate he has made of the loss to the balance of payments arising from dividends being taxed at a new basic rate of 30 per cent. in 1973–74.
§ Mr. Higgins
Since most dividends remitted abroad are paid to persons in countries with whom we have double taxation agreements, tax is due at less than the standard rate, and therefore the effect is likely to be very small.