§ MR. ALFRED DAVIESI beg to ask Mr. Chancellor of the Exchequer, whether, in view of increased taxation being required, he will consider the advisability of taxing all mining royalties.
§ SIR M. HICKS BEACHMining royalties are already, under the existing law, subject to the same taxation as any other source of income.
§ MR. ALFRED DAVIESDo they bear any other taxes besides income tax?
§ SIR M. HICKS BEACHThey bear income tax; and they are, as the hon. Member, I think, is aware, rather in the nature of capital than income.
§ MR. ALFRED DAVIESDo they bear any local taxation?
§ * MR. SPEAKEROrder, order! the hon. Member cannot enter into a financial discussion with the Chancellor of the Exchequer.