HC Deb 28 June 1916 vol 83 cc929-30

Paragraph 7 (a) of the Fourth Schedule of the Finance (No. 2) Act, 1915, shall have effect as though there were inserted after the words "pre-war standard of profits,' on the third line of the paragraph, the words "or where the whole of the capital has been lost."

Clause brought up, and read the first time.


I beg to move, "That the Clause be read a second time."

The intention of the Clause is that where a business during the last three pre-war years has shown a loss—


I do not wish to interrupt the hon. Member, but I think I can save him some trouble. I have carefully considered the effect of the Amendment, and I am prepared to accept it subject to an alteration of the wording which I propose to give before the Report stage.

Proposed Clause and Motion, by leave, withdrawn.