HC Deb 04 May 1943 vol 389 c26
54. Sir A. Southby

asked the Chancellor of the Exchequer whether secondhand jewellery pays the 100 per cent. Purchase Tax?

Sir K. Wood

Yes, Sir, where it forms the subject of a taxable purchase; but many transactions are, of course, not of "a wholesale character."

Sir A. Southby

Is my right hon. Friend aware of the enormous trade which is being done in uncut and unset stones, many of the latter obtained from broken-up second-hand jewellery?

Sir K. Wood

Yes, Sir.

Sir A. Southby

Cannot my right hon. Friend devise some means of taxing these transactions?

Sir K. Wood

It is very difficult.