HC Deb 07 July 1925 vol 186 cc221-2
50. Mr. H. WILLIAMS

asked the Chancellor of the Exchequer the receipts and repayments of Excess Profits Duty during the three months ended 30th June, 1925, and the arrears outstanding on that date?

Mr. CHURCHILL

The approximate gross receipt of Excess Profits Duty (including Munitions Levy) during the three months ended 30th June, 1925, was £2,560,000. Repayments of duty during the same period amounted to £2,640,000, leaving a net deficit of £80,000. The amount of Excess Profits Duty (including Munitions Levy) in assessment, but un paid at the 30th June, 1925, was approximately £123,000,000; but the amount to be ultimately received by the Exchequer will fall far short of this figure.

Mr. DALTON

Does the Chancellor still believe that his estimate for the present financial year of the Excess Profits Duty will be realised?

Mr. CHURCHILL

I have not seen any reason to anticipate a different result.