§ 45. Mr. GEORGE TERRELLasked the Prime Minister whether, in connection with the forthcoming Budget, the House will be given the opportunity and full time to consider proposals for the simplification of the Income Tax by making it a tax on net income instead of, as at present, a tax on capital and income?
§ The PRIME MINISTERProposals of the nature referred to by the hon. Member could only be considered in connection with a general inquiry into the Income' Tax laws. It is hoped that when circumstances allow such an inquiry may be set on foot by the Committee which I foreshadowed last July.
§ Mr. G. TERRELLMay I ask the right hon. Gentleman whether he does not think this a very suitable moment to conduct such inquiries?
§ The PRIME MINISTERI think it a most unsuitable moment.