§ 50. Mr. FLANAGANasked the Chancellor of the Exchequer if he has now considered the memorandum submitted to him by the Association of British Chambers of Commerce on the position of cooperative societies in relation to taxation; and whether he can make any statement as to the extent to which he feels able to give effect to it?
§ Major ELLIOTI have received a copy of this memorandum. It raises a question of Budget policy and I am afraid that I cannot anticipate the Budget Statement.
Lieut.-Colonel Sir FREDERICK HALLIs the right hon. Gentleman aware that the undivided profits at the end of 1930, as referred to in this report, amount to 244 £16,500,000, and that, if ordinary taxation had been imposed, it would have brought £4,000,000 sterling into the coffers of the Chancellor of the Excheqeur? Does he think that that is fair to the ordinary trading public?
§ Mr. FLANAGANIs the right hon. Gentleman aware of the feeling of grave injustice that is caused by the existing arrangement?