§ 19. Mr. JOHNSTONasked the Chancellor of the Exchequer whether the profits of the four British-owned shipbuilding firms referred to in the Report on overseas markets are assessed to Income Tax in this country?
§ Mr. McNEILLThe Commissioners of Inland Revenue are precluded from disclosing information as to the Income Tax paid by any individual firm or company, but the hon. Member may rest assured that any British concern is treated in conformity with the Income Tax Acts.
§ Mr. JOHNSTONIs the right hon. Gentleman aware that I have not asked for any information as to the amounts of the Income Tax paid. I simply asked whether these particular companies are assessed for Income Tax.
§ Mr. McNEILLYes, I know, but that is the information which the Inland Revenue Commissioners are precluded from disclosing.
§ Mr. KIRKWOODIf British shipbuilding firms have shipyards in China, do they pay Income Tax to this country?
§ Mr. McNEILLThat appears to be the same question as the one on the Paper, to which I have already replied.
§ Mr. KIRKWOODI appeal to you, Mr. Speaker. Is that a satisfactory reply? I do not think it is right that we should be pushed off in this fashion. My question is this: British shipbuilding firms have shipyards in China, and I am asking whether these firms pay Income Tax to this country. It is arising out of the original question, and the right hon. Gentleman admits that.
§ Mr. SPEAKERThe question has been already asked, and the right hon. Gentleman has given such answer as he can. It may not be satisfactory to the hon. Member, but I cannot help that.
§ Mr. H. WILLIAMSIs it not the case that any British shareholders in these companies who are resident in this country will pay tax on the income that they receive from China?
§ Mr. McNEILLAll I can say, as I have already said, is that this concern is treated in conformity with the Income Tax Acts.
§ 30. Mr. JOHNSTONasked the President of the Board of Trade whether he can give the names of the four British-owned shipbuilding firms in China referred to in the Report on Overseas Markets?
§ The PRESIDENT of the BOARD of TRADE (Sir Philip Cunliffe-Lister)I presume that the hon. Member is referring to the Survey of Overseas Markets published by the Committee on Industry and Trade in 1925. The firms referred to are Shanghai Dock and Engineering Company, Limited, Shanghai; New Engineering and Shipbuilding Company, Limited, Shanghai; Hong Kong and Whampoa Dock Company, Limited, Hong Kong; and Taikoo Dockyard and Engineering Company, Limited, Hong Kong.
§ Mr. JOHNSTONCan the President of the Board of Trade say whether it is still the case, as at the time that this Report was issued, that these firms are purchasing all the materials in Belgium and Germany because they are comparatively cheap?
§ Sir P. CUNLIFFE-LISTERObviously that is a question which I could not answer without notice, and I am not sure that I could ascertain the facts if I tried.
§ Sir J. NALLIs it not a fact that the existence of these yards enables us to compete in building small craft for Eastern waters, and that as a result various exports are facilitated from this country?
§ Mr. KIRKWOODWhat are the wages paid to the workers in these shipyards, in comparison with the wages paid in British shipyards?
§ Sir P. CUNLIFFE-LISTERI have not got that information.
§ Mr. KIRKWOODIf I put down a question on the subject, will the right hon. Gentleman get the necessary information?
§ Mr. SPEAKERIf the hon. Member hands in a question, I will look at it.