§ MR. EUGENE WASON (Clackmannan and Kinross)I beg to ask Mr. Chancellor of the Exchequer whether, in the Committee which he proposes to appoint to consider the question of the graduation and differentiation of the Income-tax, he will be prepared to refer to that Committee the question as to whether a general tax on capital (to be graduated) might be substituted instead of the Income-tax, as is the case in the United States of America and many of our own colonies.
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. ASQUITH,) Fifeshire, E.The reference to the Committee will be to consider the practicability of graduating the amount of the tax and of differentiating; between permanent and precarious incomes. It will be for the Committee to determine whether the investigation of such a question as that referred to by my hon. friend will help them in forming their conclusions.