54. Mr. De la Bèreasked the of the Exchequer whether he can make a more precise statement of the Government's attitude in connection with tax credits and Excess Profits Tax repayment after the war, in view of the uncertainty felt by a number of industrialists throughout the country and of the necessity for making provision for industrial development at the conclusion of hostilities?
§ The Chancellor of the Exchequer (Sir Kingsley Wood)I would refer my hon. Friend to the statement which I made on this subject on 14th April in the Debate on the Budget Resolutions and to the further assurance which I gave on 10th June in answer to a Question by my hon. and gallant Friend the Member for Bewdley (Major Conant).
Mr. De la BèreWere not these assurances both vague and general, and what does my right hon. Friend mean when he says that the Government will repay as far as possible? Does he realise that industrialists really want to know whether they are td get anything at all?
§ Sir K. WoodI would direct my hon. Friend to the Statute.
Mr. De la BèreThese statements are both vague and general, and there is absolutely no sense in them at all, and people want to know where they stand.
§ Sir Granville GibsonIs my right hon. Friend aware of the fact that repayment out of 20 per cent. of E.P.T. after the war is so hedged round by conditions that there is not the slightest hope of anybody receiving anything and cannot he make some relaxation?
§ Sir K. WoodNo, Sir. There is no foundation for that statement. The provision is made that was desired by this House after full discussion.