§ 56. Mr. Kirkwoodasked the Chancellor of the Exchequer whether he will state specifically that profits made by ship-brokers or others whose business it is to buy and sell ships will be subjected to the Excess Profits Tax?
§ Sir J. SimonYes, Sir, provided that the total profits of the business exceed the standard profits.
§ Mr. KirkwoodDoes that mean that if a British subject buys a ship from the Swedes for £30,000 and sells it to the British Government for £130,000, the difference will be treated as excess profits?
§ Sir J. SimonProfits made by ship-brokers will certainly come into the calculation.