Skip to main content

Eighth Schedule—(Stamp Duties Abolished)

Volume 466: debated on Tuesday 28 June 1949

The text on this page has been created from Hansard archive content, it may contain typographical errors.

I beg to move, in page 61, line 34, at the end, to insert:

"and no other instrument shall be chargeable with duty under the heading Agreement or any Memorandum of an Agreement as being an agreement or memorandum of an agreement for the issue, allotment or sale of any stock or marketable security."
We are inserting these words at the request of the Law Society and the Issuing Houses' Association who think there are other letters of allotment and memoranda of agreement which should be included. My right hon. and learned Friend the Chancellor of the Exchequer has agreed.

I have not found any reference to the several stamp duties which have to be paid by barristers at various stages of their careers, particularly those by King's Counsel, which are very substantial. If a clean sweep of obsolete stamp duties is being made, it would be interesting to know why there is this discrimination against this branch of the legal profession.

It never was contemplated that the stamp duties paid by a barrister when he takes silk should be included here. I may say in addition, that the feeling has been expressed that a barrister need not become a King's Counsel unless he wishes, and that if he does so choose, then he can well afford so to become.

Amendment agreed to.

Schedule, as amended, agreed to.

Ninth and Tenth Schedules agreed to.