§ Section one of Part III. of the Fourth Schedule of the Finance (No. 2) Act, 1915, shall have effect as though there was inserted in (c), after "replacement," the word "and", and, at the end. the following as an additional sub-Clause (d),—
§ (d) So far as it consists of assets (whether acquired by purchase or otherwise) of or invested in the trade or business of husbandry or the cultivation of plantations abroad, the value of such assets at the end of the last pre-war trade year so far as such assets were then in existence, and with respect to such assets as were acquired after the end of the last pre-war trade year then the value provided in Clauses (a) or (c) hereof, as the case may require, with an adition in either case of any expenditure proved to have been made on or in the development of any such assets since the acquisition thereof. — [Sir I. Philipps.]
§ Brought up, and read the first time.
§ Sir I. PHILIPPS
I beg to move, "That the Clause be read a second time."
In doing so I do not wish to detain the Committee, in view of what the Chancellor of the Exchequer said to- me this afternoon on another Amendment put for-word by the hon. Member for Dumbartonshire, after his remarks on that occasion, I think I shall be meeting the views of the very large number of people who asked me to bring up this Clause if I leave it at that, and simply say that we hope the Chancellor of the Exchequer will see his way to help us, so far as he possibly can, in the direction which he indicated this afternoon.