§ 74. Mr. Rileyasked the Chancellor of the Exchequer the number of persons at present receiving V.C. financial grants; and what the loss to the Treasury would be if all these grants were exempted from liability to Income Tax.
§ Sir J. AndersonI understand that at present 225 holders of the Victoria Cross are drawing a pension in respect of the award of that decoration. I cannot say how much tax is involved but it is obviously very small. The issue is not so much the amount of tax involved as the principle that all income should be taken into account in computing an individual's liability and as I said in reply to my hon. Friend on 27th April last I do not think that we ought to go on considering special exemption in particular cases.