HC Deb 06 March 1928 vol 161 cc244-5
55. Mr. HANNON

asked the Chancellor of the Exchequer the total estimated refunds of Excess Profits Duty which still remain to be paid by the Exchequer?

Captain KING

My right hon. Friend regrets that he is unable to forecast the total amount of Excess Profits Duty that will be repaid in the future.

58. Mr. WALLHEAD

asked the Chancellor of the Exchequer the amounts received from the Excess Profits Duty and the Munitions Levy, respectively, during each year they were in operation, the amounts of the repayments made in each year, and the amount of the claims for repayment of the Excess Profits Duty still outstanding?

Captain KING

As the answer contains a large number of figures, I will, with the hon. Member's permission, circulate it in the OFFICIAL REPORT.

Following is the answer:

STATEMENT showing for the United Kingdom the gross receipt, repayments and net receipt of the Excess Profits Duty and Munitions Levy during each year they were in operation:

Year. Gross Receipt. Repayments. Net Receipt.
Excess Profits Duty.
£ £ £
1915–16 187,846 — 187,846
1916–17 138,008,790 1,182,494 136,826,296
1917–18 205,777,184 3,635,271 202,141,913
1918–19 268,891,916 7,280,920 261,610,996
1919–20 296,778,885 13,006,679 283,772,206
1920–21 234,724,592 17,579,212 217,195,380
1921–22 122,142,427 91,664,614 30,477,813
Munitions Levy.
£ £ £
1916–17 4,788,636 — 4,788,636
1917–18 21,234,065 259,888 20,974,177
1918–19 22,658,039 292,174 22,365,865
1919–20 5,617,723 181,883 5,435,840
1920–21 1,401,323 447,575 963,748
1921–22 200,468 1,007,589 — 807,121

As regards the current financial year, the gross receipt of Excess Profits Duty (including Munitions Levy) from 1st April, 1922, to 28th February, 1923, is approximately £49,500,000; the net receipt during the same period amounts to slightly over £1,000,000. I regret that I am unable to forecast the amount of repayments to be made in. the future.

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