§ 52. Mr. ROBERT YOUNGasked the Chancellor of the Exchequer why local authorities are not assessed for purposes of Income Tax on the same conditions as an individual; whether the local authority which owns two or more trading undertakings is not allowed to set off against the profits of any one or more of these undertakings the losses which may be incurred in any of its other undertakings; 1903 and, if so, whether he will consider an amendment of the law in that direction?
Mr. CHAMBERLAINI would refer the hon. Member to the answer which I gave to the hon. Member for Wrexham on the 24th instant.