§ 24. Mr. HOLDSWORTH
asked the Chancellor of the Exchequer what were the profits of brewing concerns for accounting years ending in the Income Tax year 1913–14, and in the latest year for which particulars are available, representing the profits as computed for Income Tax purposes less the amounts allowed for wear and tear of machinery and plant, and including profits arising from the carrying on of any trade ancillary to the main business?
§ The CHANCELLOR of the EXCHEQUER (Mr. Chamberlain)
The profits of brewing concerns for accounting years ended in the year 1931–32 which were the basis of the Income Tax Assessment for the year 1932–33 are estimated at £23,000,000. The profits for the year 1932–33 which will be the basis of assessment for the current year will not come under assessment to Income Tax until next autumn, but I anticipate that they will show a considerable decline. The profits for the year 1913–14 were just under £10,000,000. These estimates, include in addition to the profit arising from brewing, any ancillary profits of the business.
§ Mr. HOLDSWORTH
Would it be possible to give some relief to the consumers of beer out of some of the profits of the liquor trade?
Will the Chancellor of the Exchequer bear in mind the fact that the brewery trade gets a higher profit than any other trade in the country, and more advertisement and more Press?