§ 16. Sir JOSEPH WALTONasked the Chancellor of the Exchequer whether he will use his influence to prevent undue interference by the State with the natural course of the trade and commerce of the country; and whether he will take steps to secure by legislative enactment that the excess income of every taxpayer during the War over the average of the two years preceding the War shall be paid into the National Treasury as an extra war tax, less 20 per cent. to cover extra cost of living?
§ The CHANCELLOR of the EXCHEQUER (Mr. McKenna)I can assure my hon. Friend that His Majesty's Government have no intention of interfering with the natural course of the trade and commerce of the country, except so far as may be absolutely necessary in the 1795 national interest. As regards the latter part of the question, I fear I can, for the moment, add nothing to the statements already made.
§ Sir J. WALTONCannot my right hon. Friend, at any rate, assure me that he will endeavour to devise a scheme of war taxation, which will, as far as possible, impose equality of sacrifices on all the taxpayers in the country?
§ Mr. McKENNAThat is a very valuable principle of taxation.