§ 62. Mr. AYLESasked the Chancellor of the Exchequer whether, seeing that a private person conducting two businesses can, for the purposes of Income Tax, set off the losses of the one against the profits of the other, he can see his way to introduce legislation to consolidate the powers and funds of corporations, acting in their various capacities, so that corporations may be able to set off any losses of their undertakings acting as urban sanitary authorities against the profits of their undertakings acting as municipal corporations, or vice versa, and so be placed on the same basis as private persons and companies?
Mr. GRAHAMI regret that my right hon. Friend cannot undertake at the present late stage of the Finance Bill proceedings to examine this very technical matter with a view to immediate introduction of legislation upon it.