HC Deb 17 May 1916 vol 82 cc1523-4
88. Mr. CURRIE

asked the Chancellor of the Exchequer whether his attention has been drawn to the statement issued by a well-known co-operative society to the effect that it would have no objection to Income Tax being levied upon the results of its competitive as distinguished from its mutual trade; whether, in view of this, steps will now be taken to ascertain how far this readiness to submit to taxation is shared by other co-operative societies; and what yield is expected in a full year from the Excess Profits Duty levied upon co-operative societies?

The CHANCELLOR of the EXCHEQUER (Mr. McKenna)

I can only refer the hon. Member to the numerous replies I have given on this subject, and especially to the answer which I gave to the hon. Member for the Edgbaston Division of Birmingham on the 14th October last, when I referred to the "insignificant amount of the average taxable profit per member" of these societies. That description is confirmed by the statement of the particular society to which the hon. Member has drawn my attention. As regards the last part of the hon. Member's question, sufficient data are not available on which to form an estimate.

Sir J. LONSDALE

Is the right hon. Gentleman aware that the co-operative societies throughout England last year realised a profit of £13,500,000, and that only £1,500,000 was distributed to their shareholders?

Mr. McKENNA

Will the hon. Gentlemen add to that information the number of shareholders amongst whom the one and a half millions was divided?

Sir J. LONSDALE

Is the right hon. Gentleman not aware that the Wholesale Co-operative Society itself does the bulk of its trade, not with its own shareholders, but in competition with private firms—at the present time by accepting Government contracts?

Mr. McKENNA

If the hon. Gentleman will give me notice of these various questions, I shall be happy to give an answer.

Sir J. LONSDALE

I have asked these questions previously of the right hon. Gentleman, and have never been able to get a satisfactory reply.

Sir E. CARSON

Will we ever be able to be done with this delay?

Mr. McKENNA

I do not know on what ground the right hon. Gentleman asks me that.

Mr. LOUGH

May I ask—

Mr. SPEAKER

We have had this debated several times; we know both sides of it well.