§ Order for Second Reading read.
§ MR. HOWELL (Bethnal Green, N.E.)I beg to move the Second Reading of this Bill. I should like to appeal to right hon. and hon. Gentlemen opposite to allow it to pass. Its object is to exempt from Income Tax the invested funds of Trade Unions applied in the payment of provident benefits.
§ Motion made, and Question proposed, "That the Bill be now read a second time."—(Mr. Howell.)
*MR. JAMES LOWTHER (Kent, Thanet)I object, if its object is to interfere with Income Tax arrangements.
§ THE CHANCELLOR OF THE EXCHEQUER (Sir W. HARCOURT,) DerbyI hope the Bill will not be objected to. It has been examined by the Inland Revenue authorities, who have given it their approval.
*MR. JAMES LOWTHERIf the right hon. Gentleman speaks from the point of view of the Exchequer, I will not press the objection.
§ SIR MICHAEL HICKS BEACH (Bristol, W.)Will the Bill apply to the funds of small Provident Societies?
§ SIR W. HARCOURTI should not have assented to this Bill if it had not been carefully examined by the Inland Revenue authorities. I cannot give an opinion as to other Associations without a Bill on the subject being carefully examined by the Inland Revenue authorities.
§ SIR M. HICKS BEACHThen I object. I think it would he invidious to deal with one class of Societies only.
§ MR. HOWELLI hope the right hon. Gentleman will not do that. The Bill is much desired by the Trades Unions.
§ THE PRESIDENT OF THE BOARD OF TRADE (Mr. MUNDELLA,) Sheffield, BrightsideI, too, hope the right hon. Gentleman will not press his objection, seeing that the Bill applies only to Sick and Provident Funds.
§ SIR W. HARCOURTIf a Bill is brought in to deal with them it shall be examined by the Inland Revenue Office. I cannot assent to a Bill I have not seen.
§ SIR M. HICKS BEACHI object.
§ Second Reading deferred till Tomorrow.