§ 62. Mr. Perkinsasked the Chancellor of the Exchequer whether he is aware of the substantial increase in the profits of many firms engaged directly and indirectly in the manufacture of armaments during the last 12 months; and whether he will consider including some form of excess profits duty in his next Budget?
§ The Financial Secretary to the Treasury (Lieut.-Colonel Colville)I cannot anticipate my right hon. Friend's Budget statement.
§ Mr. PerkinsWill the right hon. and gallant Gentleman give an assurance that in the event of excess profits being made, he will at some future date introduce such legislation?
§ Lieut.-Colonel ColvilleI cannot add anything to my answer.
Mr. AlexanderWill the right hon. Gentleman answer the first part of the question—whether there were any substantial increases in profits?
§ Lieut.-Colonel ColvilleThe right hon. Gentleman is aware that my right hon. Friend is aware of all relevant considerations.
§ 67. Mr. Parkerasked the Financial Secretary to the Treasury whether the Government intend to introduce special legislation to tax profits in speculative commodity transactions so as to prevent the profiteering now taking place out of the rearmament programme?
§ Lieut.-Colonel ColvilleI would refer the hon. Member to the reply given last Thursday to a question by the hon. Member for East Edinburgh (Mr. Pethick-Lawrence) regarding the market in metals. I cannot anticipate my right hon. Friend's Budget statement.