§ 114. Sir FRANCIS LOWEasked the Chancellor of the Exchequer whether he will introduce legislation requiring the members of co-operative societies to be registered by their names instead of by numbers, so that their liability to pay Income Tax may be ascertained, in view of the Budget proposals to reduce the limit for exemption?
§ Mr. McKENNAIt is beyond all reasonable doubt that the exempt members of these societies form a very great majority, 1473 and in view of this fact and of the insignificant amount of the average taxable profit per member I am not aware of any consideration which would warrant the step suggested by the hon. Member.