HC Deb 12 March 1941 vol 369 cc1283-4
49. Mr. A. Edwards

asked the Prime Minister whether he will provide time to discuss the Motion on the Order Paper in the name of the hon. Member for Middlesbrough East, and others, relating to the Excess Profits Tax?

[That, whilst acknowledging the principle of limiting profits during war-time, this House recognises the grave handicap to efficient and economical production of essential war materials resulting from the imposition of 100 per cent. excess profits lax, and is of the opinion that 85 per cent. is the maximum that can be imposed without inflicting serious hardship in many cases and extravagance in others; and is further of the opinion that by the reduction of the excess profits tax from 100 per cent. to 85 per cent. there would be an immense saving in the cost of production, an acceleration of output and an increased revenue to the Exchequer, and therefore recommends that the Government give the most serious consideration to this problem without delay.]

Mr. Attlee

No, Sir. There will be full opportunity for discussion in the Budget Debates.

Mr. Edwards

Does the Minister not realise that this Motion is concerned to increase the output of all materials and also to increase the revenue of the Chancellor of the Exchequer? Is it not important that the House should have an opportunity of discussing this matter before the Chancellor makes his Budget proposals?

Mr. Attlee

I think that the discussion on the Budget proposals will give the opportunity which the hon. Member desires.