EXCESS PROFITS TAX.

HC Deb 27 October 1919 vol 120 c270

65. Mr. TREVELYAN THOMSON

asked the Prime Minister whether the Government are prepared to reconsider the question of the application of the Excess Profits Tax to capital appreciations and accumulations since August, 1914?

Mr. CHAMBERLAIN

The Excess Profits Tax is a tax on the excess profits of businesses. Its machinery is not, and could not be made, applicable to the taxation of capital appreciations and accumulations.