HC Deb 29 June 1943 vol 390 cc1562-3
Sir K. Wood

I beg to move, in page 13, line 5, to leave out from "effect" to the end of the Clause, and to insert: as if references to metal and the mining thereof included respectively references to limestone, sandstone, igneous rock, chalk, asbestos and mica and to the extraction thereof from natural deposits. The object of this Amendment is to extend Clause 21 to the materials to which I have referred on the previous Amendment. This Clause provides relief from Excess Profits Tax where normal mining practice is departed from, in order to accelerate output, in such a manner that, whereas current costs of production are reduced, it may be anticipated that post-war costs will be increased. The Clause as originally drafted applied to certain metals, oil, asbestos and mica. In the case of the other four materials it is also not uncommon for normal methods of working to be departed from in order to accelerate output.

Mr.Woods

While making no objection to this Amendment, I feel that if a principle like this is to be adopted, and the incidence of E.P.T. is not to be applied because firms are using up something today which in the normal course they might not use up until later, the House should give attention to the question of some penalisation, as firms will be making a profit now. On the other hand, there is the human aspect. Here is a concession by the Government in the interests of finance. It is appreciated that if these concerns worked normally they would make only x profits this year and x profits next year, whereas in fact they will be making x plus this year and x minus perhaps in post-war years. I suggest that the same consideration should be applied to human beings. Attempts have been made to-day to get concessions for those who are working particularly hard. Those people are being brought into normal taxation, but they are being worn out at an undue rate at present, and they will probably have a protracted old age and be permanently weakened.

Sir K. Wood

That applies to the Chancellor of the Exchequer, too.

Mr. Woods

We shall have to look into that.

Amendment agreed to.