§ 71. Mr. FIELDasked the Chancellor of the Exchequer whether his attention has been directed to the excess profits realised by certain shipping, rubber, and other companies; and whether he can state what course he intends to pursue with them and likewise levying Income Tax on the profits of co-operative societies?
§ Mr. BONAR LAWMy proposals for taxation in the current year are incorporated in the Finance Bill, to which I would refer the hon. Member.
§ 73 and 74. Mr. CURRIEasked the Chancellor of the Exchequer (1) whether he will circulate as a White Paper some grouped particulars, without disclosing names, of the 500 largest returns for Excess Profits Duty last year, so arranged as to show what traders have been earning excess profits; whether shipowners have been earning larger increases than other traders; what proportion of profits in, say, the first hundred of such cases have been taken by the Government in name of Income Tax, Super-tax, and Excess Tax taken together; (2) whether, with or without special inquiry, he can say how the six largest returns for revenue purposes in each of the following occupations, namely, tobacconists, provision merchants, meat importers, Army contractors, spirit merchants and distillers, brewers, and 1132 lawyers, compare with the six largest returns by shipowners last year; and whether he can assure the House that cases do not exist amongst these other taxpayers of earnings as largely increased as those of leading shipowners?
§ Mr. BONAR LAWIt has been impracticable for the Commissioners of Inland Revenue in the great pressure of business involved in raising war revenue to collect statistics of Excess Profits Duty returns which are not required for revenue purposes. The information referred to by my hon. Friend could only be obtained at a disproportionate expenditure of labour, and if obtained it would be extremely misleading.
§ Mr. HOUSTONWould not the information asked for in these questions be misleading unless the actual capital employed in earning these profits were stated?