HC Deb 27 January 1931 vol 247 c796
52. Mr. ALBERY

asked the Chancellor of the Exchequer whether, for the purpose of encouraging co-partnership in industry, he will arrange for shares held by workers under co-parnership schemes to be paid without deduction of Income Tax at source?


Arrangements on the lines suggested by the hon. Member are already in force in connection with a considerable number of co-partnership or profit sharing schemes. If the hon. Member has any particular co-partnership scheme in mind, I would suggest that he communicate with the Commissioners of Inland Revenue.


Is there any reason why the shareholders in co-partnership schemes should not be put on the same basis as shareholders in co-operative schemes?


As a matter of fact they are, and, if the hon. Member takes the advice which I have given him, he will find that co-partnership schemes have availed themselves of the arrangements which I have referred to, in a considerable number of cases.