HC Deb 28 April 1915 vol 71 cc710-1
40. Sir HENRY CRAIK

asked the Chancellor of the Exchequer whether his attention has been called to the report of Messrs. Spillers and Bakers, Limited, a Cardiff firm of flour manufacturers, in which it is stated that the profit for the past year was £367,865, while the profit for the previous year was £89,352, and the highest previous profit in any year was £196,517 in 1912; that there has been carried forward to the next account £100,000 more than last year; that the bonus to the shareholders has been increased by 5 per cent.; and whether he is advised that, under recent emergency legislation, the Government possess adequate powers for dealing with a case like this, in which profits are largely swollen owing to the strain of the present crisis?

42. Mr. CHIOZZA MONEY

asked the Chancellor of the Exchequer if his attention has been directed to the fact that the annual report of Messrs. Spillers and Bakers, Limited, millers and flour merchants, just issued, shows a profit for the year ended February, 1915, of £367,865, as compared with a profit of £89,352 for the year ended February, 1914, and if he will make such provision in the forthcoming Budget as shall ensure the heavily graduated taxation of special profits made during war time?

Mr. ACLAND

My right hon. Friend has received many communications on the report referred to. The whole question of war profits is under consideration, and I fear for the moment my right hon. Friend can make no further statement.

Mr. JAMES HOPE

Have the Government proposals for the distribution of profits been so far matured that the employés of Messrs. Spillers and Bakers will get a proportionate bonus out of these profits?

Mr. ACLAND

I can only say that, for the moment, I can make no statement on the subject.

Mr. CROOKS

Will the hon. Gentleman consider the fact that the entire population expect the Government to tax these enormous profits up to 20s. in the £?

Sir HENRY CRAIK

Do we understand that the matter is now actively occupying the attention of the Chancellor of the Exchequer, and that we may hear shortly what steps he proposes to take?

Mr. ACLAND

The Budget is to be taken on Tuesday next and that will be the ordinary occasion for a statement on the subject.