57. Mr. GREENWOODasked the Chancellor of the Exchequer whether, in view of the need for more university-trained men in certain British industries, donations made by the firms engaged in those industries for the express purpose of extending the provision of university education, including training in methods of research, in departments of science and technology applied to those industries, are officially regarded as money wholly and exclusively expended for the purposes of the trade, so as to be admissible as expenses in the computation of profits for Income Tax purposes?
§ The FINANCIAL SECRETAY to the TREASURY (Mr. Baldwin)Donations made by a trader for the purposes indicated in the question would not be regarded as money wholly and exclusively expended for the purposes of his trade, and are therefore not admissible as expenses in the computation of his profits for Income Tax purposes.
Mr. GREENWOODHaving regard to the reply of Mr. Shepherd, of Liverpool wherein it was stated by the Treasury that any subscriptions given to such institutions by a firm to help in forwarding the education of their workpeople would he taken into consideration, is not the right hon. Gentleman's reply quite inconsistent?
§ Mr. SPEAKERThe hon. Member must give notice of that question.