EXCESS PROFITS TAX. (Hansard, 11 June 1940)

HC Deb 11 June 1940 vol 361 c1134 1134

§ 55. Mr. Rhys Davies
asked the Chancellor of the Exchequer whether the imposition of the 100 per cent. Excess Profits Tax will be applied to Members of Parliament whose income is increased on appointment to Government and other posts?

§ Sir K. Wood
No, Sir.

§ Mr. Davies
Will the right hon. Gentleman tell us why?

§ Sir K. Wood
Because being an M.P. is not a "trade or business" within the meaning of the Act.

§ Mr. Davies
If these increases of income are not the profits of industry, can we regard them as being the rewards of indolence?

§ Sir K. Wood
Not in the case of the hon. Gentleman.