§ Mr. MARKHAMasked the Chancellor of the Exchequer if he will state what proportion of the profits of joint stock companies upon which Income Tax has been paid is divided amongst the shareholders by way of dividend; whether he is aware that in the coal and iron trades this proportion of profits divided does not generally exceed 60 per cent. of the taxed profits, owing to no depreciation being allowed for leases or exhaustion of minerals from the gross trading profits; and will he see that no more favourable terms are granted to landowners in respect to Schedule A of the Income Tax than is granted to traders?
§ Mr. HOBHOUSEMy right hon. Friend has no information on the points raised by my hon. Friend in the first two parts of the question. As regards the third part of the question, I may refer him to my right hon. Friend's statement yesterday in Committee, which indicates the nature of the proposed changes under Schedule A of the Income Tax.