§ 86. Mr. G. TERRELLasked the Chancellor of the Exchequer whether he will cause inquiries to be made from the leading associations representing employers and employed in general, and in particular trades, as to the extent, if any, to which unemployment has arisen and is likely to arise in consequence of liability to EXCESS Profits Duty?
Mr. CHAMBERLAINNo, Sir. I do not think that such inquiries would be fruitful of trustworthy or useful results, but I shall be happy to receive from my hon. Friend, or others, any suggestion for deriving a comparable revenue from approximately the same sources as Excess Profits Duty which is not open to the objections felt to that tax.
§ Mr. TERRELLWill the right hon. Gentleman agree to the appointment of a Select Committee to inquire into this matter?
§ 87. Mr. TERRELLasked the Chancellor of the Exchequer if the claims for refund of Excess Profits Duty come from firms which have a high datum line or standard of profit; and whether these claims are made up and paid out of Excess Profits Duty which is obtained from firms with a low datum line or standard?
Mr. CHAMBERLAINNo classification of claims for repayment of Excess Profits Duty as between concerns with a high or a low pre-War standard respectively has been made. My hon. Friend is under a misapprehension on the point referred to in the last part of his question. A taxpayer can only claim repayment in respect of duty which he has himself previously paid.
§ Mr. TERRELLDoes not the question arise that those who have paid the duty in the past are firms with a high datum line; that they are now claiming repayments, and that any sums they receive will come out of the receipts from firms who have a low datum line?
Mr. CHAMBERLAINAny repayment will be out of taxes they have paid and which in the course of events is shown to be more than they should have paid.
§ Mr. TERRELLBut has not the money they have paid already been spent by the right hon. Gentleman and is it not new money out of which he is making repayments?
Mr. CHAMBERLAINOf course, I am granting it out of current receipts, but it is in no respect more out of the current receipts from the Excess Profits Duty than from the current receipts of Income Tax.