§ 81. Mr. Lipson
asked the Chancellor of the Exchequer why a discount of 2½per cent. is now given for early payment of Income Tax, and why this is allowed for payment under Schedule D and not for that under Schedule E?
§ The Chancellor of the Exchequer (Sir John Simon)
The extension of the provision for discount was considered by the Royal Commission on the Income Tax, which reported in 1920, and if my hon. Friend will consult paragraphs 607 to 612 of the Commission's report he will find the reasons for which they were very definitely opposed to extension.
§ Mr. Lipson
Is my right hon. Friend aware that it is very difficult for the ordinary citizen to understand why the 2107 Government apparently want money under Schedule D and not under Schedule E, and will he not reconsider the matter, and if he allows a discount at all, allow it under both Schedules?
§ Sir J. Simon
If my hon. Friend will refresh his memory of the paragraphs to which I referred, I think he will find the reasons.