§ 37. Mr. MALLALIEUasked the Chancellor of the Exchequer the estimated cost to the Revenue for the current year and a lull year, respectively, of the changes recently made in the silk duties?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Duff Cooper)It is not 1778 possible to give a close estimate of the revenue effect of the recent changes in the silk duties, since this must depend, among other things, upon the effect of the duties on the different sections of the trades concerned, but I am advised that the cost in a full year might be about £2,500,000. It is still more difficult to estimate the cost for the current year owing to the temporary continuance of drawbacks at the rates appropriate to the old scheme of duties, but I anticipate that the loss may be something over £2,000,000.