§ 50. Mr. De Chair (for Commander Marsden)
asked the Chancellor of the Exchequer whether, in assessment for the National Defence Contribution, he is prepared to grant relief in respect of expenditure by employers on the provision of air-raid shelters?
§ Sir J. Simon
I would refer my hon. and gallant Friend to the answer given on 29th April, 1937, by my right hon. Friend the Prime Minister to a question asked by my hon. Friend the Member for Newcastle-upon-Tyne, North (Sir M. Grattan Doyle) of which I am sending him a copy. As my hon. and gallant Friend will see on reference to Section 20 of the Finance Act, 1937, the computation 918 of profits for the purposes of National Defence Contribution follows in general the computation of those profits for the purposes of Income Tax, and whatever expenditure is allowed as a deduction for Income Tax purposes will be allowed for the purposes of National Defence Contribution.