§ 55. Mr. J. Griffithsasked the Financial Secretary to the Treasury the estimate formed by the Treasury of the aggregate increased profits that would be made by companies and firms liable to the National Defence Contribution in the year 1938 and subsequent years, and upon which the estimated yield of £25,000,000 was anticipated.
§ Lieut.-Colonel ColvilleI regret I cannot furnish particulars of the figures used in arriving at the estimate to which the hon. Member refers. I would remind him that the estimate depended on other factors as well as growth of profits, such as the adoption of a capital standard instead of a profits standard.
§ Mr. DaltonWere the Treasury officials consulted at all in arriving at any of these estimates?
§ Lieut.-Colonel ColvilleThe hon. Member may be sure that the normal procedure was followed.
§ Mr. G. GriffithsIn what way was this estimate of £25,000,000 arrived at? Have the Treasury made any real estimate of the value of the property?
§ Lieut.-Colonel ColvilleI cannot discuss this matter by way of question and answer. In addition to the difficulty which I have mentioned in the last part of my answer, there is also the fact that it is not the practice of the Treasury to disclose the figures upon which their estimates are based. They are very often of a confidential nature.
§ Mr. BellengerWhat proportion does this £25,000,000 bear to the capital?