§ 23. Mr. SNOWDENasked the Chancellor of the Exchequer if the King's Norton Metal Company has just declared its profits for the year ending March last; that such profits show an increase of 250 per cent. on the previous year; that such increase has been made during two-thirds of the year only; that this firm's special work is the manufacture of war munitions; and will he say if it is proposed to socialise these increased profits for the relief of the general taxpayer in view of the burden of the cost of the War and the increase in the cost of living?
§ The CHANCELLOR Of the EXCHEQUER (Mr. McKenna)As regards the facts stated in the first four parts of the question, I would refer my hon. Friend to the reply which my right hon. Friend the President of the Board of Trade gave in answer to a question by my hon. Friend the Member for the Attercliffe Division on the 14th June. I will supply him with a copy of that reply if he wishes it. I understand that the firm in question is specially engaged in the manufacture of war munitions. The whole question of increased profits is under consideration.