§ 67. Commander Sir Archibald Southbyasked the Chancellor of the Exchequer whether Purchase Tax is payable in respect of unset or uncut precious stones; and, if so, at what rate?
§ Sir K. WoodOwing to the difficulties in imposing such a tax, such stones are not chargeable with Purchase Tax.
§ Sir A. SouthbyWill the right hon. Gentleman bear in mind that Purchase Tax is supposed to be payable on luxury articles, and surely articles which are not required for use in industry are definitely luxury articles and should be taxed?
§ Sir K. WoodI agree, and I should be only too glad to do it, but I am afraid it has always been considered that the difficulties would not be worth the yield in tax.
§ Mr. HopkinsonIn view of the evasion of other taxes will the right hon. Gentleman see whether he can at any rate get the Purchase Tax collected?
§ Sir K. WoodYes, I will certainly examine the matter.
§ Sir A. SouthbyCan the right hon. Gentleman say whether secondhand jewellery pays 100 per cent. tax?
§ Sir K. WoodThe hon. and gallant Member had better put that Question on the Paper.