HC Deb 04 July 1927 vol 208 cc1058-60
Mr. H. WILLIAMS

I beg to move, in page 22, line 14, to leave out "1928–29," and to insert instead thereof "1929–30." The purpose of this Amendment is to delay the operation of these Clauses for the period of one year in order to give trade and industry time to adjust itself.

Captain GARRO-JONES

I sincerlly hope the Chancellor of the Exchequer will not assent to this proposal. He has gone a great deal too far in concessions to those who are known as the industrial Group in the House of Commons. He has discovered a leak in the dyke. The hon. Member says, "Do not let us stop it this year, but next year." All the time the revenue is losing an incalculable amount, year by year. If the right hon. Gentleman says he is not going to accept it, I will save myself any further speech.

The FINANCIAL SECRETARY to the TREASURY (Mr. Ronald MacNeill)

I am in the rather unusual position of agreeing with the hon. and gallant Member for South Hackney (Captain Garro-Jones). I do not know why this delay should be suggested. As the hon. Member who has just sat down has said, the hypothesis is that evasion is going on. Why should we not stop it at the earliest possible moment? Why should be incur a loss of revenue?

Mr. WILLIAMS

I beg to ask leave to withdraw the Amendment.

Amendment, by leave, withdrawn.

Mr. H. WILLIAMS

I beg to move, in page 22, line 14, at the end to insert the words only and for any succeeding years of assessment. I do not know whether this Amendment is necessary. Is it perfectly certain that there is no retrospective effect in the Clause linking tip the 1922 Act?

Mr. McNEILL

This Amendment really is not required for the purpose which my hon. Friend has in view. It definitely states in the Section that the Clauses concerned are to come into operation for the years 1928–29. That being so, they cannot have any effect earlier than that. The words for and succeeding years of assessment are unnecessary, because he knows the Super-tax as such is to be brought to an end and a Sur-tax is to be introduced. The application of this Clause to the Sur-tax will be brought about by Clause 39, Sub-section (10). For both these reasons it is unnecessary to put in these words.

Mr. WILLIAMS

In view of the assurance that the Amendment is unnecessary, I beg to ask leave to withdraw it.

Amendment, by leave, withdrawn.

Clause 46 (Transfers of sum from Road Fund to Exchequer) postponed.—[Mr. Churchill.]

Clause 47 (Continuance during current financial year of s. 58 of 10 and 11 Geo. 5 c. 18) ordered to stand part of the Bill.