HC Deb 01 March 1937 vol 321 c26
62. Mr. Perkins

asked 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. Perkins

Will 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 Colville

I cannot add anything to my answer.

Mr. Alexander

Will the right hon. Gentleman answer the first part of the question—whether there were any substantial increases in profits?

Lieut.-Colonel Colville

The right hon. Gentleman is aware that my right hon. Friend is aware of all relevant considerations.

67. Mr. Parker

asked 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 Colville

I 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.