§ 50. Mr. H. WILLIAMSasked 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. CHURCHILLThe 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. DALTONDoes the Chancellor still believe that his estimate for the present financial year of the Excess Profits Duty will be realised?
§ Mr. CHURCHILLI have not seen any reason to anticipate a different result.