§ 63. Sir J. D. REES
asked the Chancellor of the Exchequer whether he has noted the increasing prosperity of co-operative societies, which the Birmingham Industrial Co-operative Society, for example, conspicuously illustrates; and whether he proposes that the profits of such societies should at last be subjected to Income Tax?
§ Mr. McKENNA
The answer to the first part of the question is in the affirmative, but I am informed that the increase in the profits of the society named has been accompanied by a corresponding increase in its membership. As regards the latter part of the question I can add nothing to my previous answers on this subject.