HC Deb 07 May 1940 vol 360 c1039
52. Mr. Marcus Samuel

asked the Chancellor of the Exchequer what steps he is taking to ensure that the profits made by the co-operative factories which are making boots, textiles and other goods for the Government are not included in their mutual trading profits?

Sir J. Simon

Profits made by a co-operative factory are, like the profits of any other manufacturer, chargeable to Income Tax whether arising from sales to the Government or from sales to any other person.

Mr. Leonard

Is it not the case that the profits of co-operative societies were recently recognised as exempt from taxation?