§ 52. Mr. Marcus Samuelasked 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. SimonProfits 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. LeonardIs it not the case that the profits of co-operative societies were recently recognised as exempt from taxation?