§ 75. Major Milner
asked the Chancellor of the Exchequer whether he can indicate the estimated amount co-operative societies will pay by way of National Defence Contribution?
§ Sir J. Simon
National Defence Contribution is a new tax and is calculated on the current income of the contributor. The hon. and gallant Member will, therefore, appreciate that it is impossible to forecast with precision what sum will be paid by the co-operative societies, but, with this reserve, I may say that it is estimated that the yield in a full year will be in the neighbourhood of £250,000.
§ Mr. Gallacher
Has the right hon. Gentleman any idea of how much the cooperative societies would have paid under the original tax?