§ 70. Mr. G. LOCKER-LAMPSONasked the Chancellor of the Exchequer whether he has now definitely decided not to modify the Income Tax laws until the Royal Commission have reported?
Mr. CHAMBERLAINIt is obvious that I cannot carry out any general reform of the Income Tax and Super-tax until I have received and considered the Report of the Royal Commission. Very big questions are involved in any such reform which may require a fundamental revision of many of the principles on which the assessment of those taxes has hitherto been based, and I should therefore be glad if changes in the taxes could be postponed until they can be considered as a whole and their cumulative effect can be ascertained. But I conceive that it would be quite improper for me at this stage to prejudge the effect of the discussions in Committee on the Finance Bill or in any way to tie my hands in dealing with the questions which may then be raised.
§ Mr. LOCKER-LAMPSONHas the Committee yet given any indication as to when it is likely to report?
Major NEWMANWill the Government enforce the present Income Tax laws while the Commission is sitting?
§ 71. Mr. LOCKER-LAMPSONasked what the miners' demand for an alteration of the Income Tax limit to £250 would cost?
Mr. CHAMBERLAINI would refer my hon. Friend to the Estimate of from £16,000,000 to £20,000,000 which I gave on the 8th instant in the course of Debate on the Income Tax Resolution. The precise figure would, of course, depend on the particular scale of abatements which might be adopted, but if it were framed in due relation to an exemption limit of £250, the loss would be in the neighbourhood of the higher figure mentioned, and might easily exceed it.