§ MR. E. STANHOPEasked Mr. Chancellor of the Exchequer, Whether, in the event of the financial requirements of the Country necessitating a further addition to the Income Tax, he will 1850 consider the great relief which would be afforded to the taxpayer by reverting to the old practice of allowing the tax to be paid in half-yearly instalments?
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. CHILDERS)In reply to the hon. Gentleman, I have to say that at present a large amount of Income Tax is paid for the whole of the financial year during its last quarter. Except at a cost to the Revenue of several millions, half that payment could not be postponed until the following financial year; and I have not heard that any payers of Income Tax would wish to pay half their tax six months earlier. I cannot, therefore, give any encouragement to the proposal.