89. Colonel NEWMANasked the Chancellor of the Exchequer whether co-operative societies are liable for Excess Profits Duty, in common with other industrial 1186 concerns; and, if not, whether he will take steps to remedy the omission with, effect retrospectively?
§ The CHANCELLOR of the EXCHEQUER (Mr. Chamberlain)Co-operative societies have always been within the scope of the charge to Excess Profits Duty. Special provisions relating to the computation of liability of these concerns are contained in Rule 10 of Part I. of the 4th Schedule to the Finance (No. 2) Act, 1915, and in Section 26 (8) of the Finance Act, 1917.