§ 59. Mr. Channon
asked the Chancellor of the Exchequer whether in his next Budget he will consider the possibility of modifying the scope of Section 33 of the Finance Act, 1926, so as to extend the six years' limit under which business losses may be carried forward against future profits in that period by an additional period equal to the operation of the Evacuated Areas Order (Moratorium) in the areas concerned.
§ Sir J. Anderson
The question of extending, in the case of businesses affected by the war, the period of six years within which, under the existing law, trading losses may be carried forward for Income Tax purposes, was raised on the Committee Stage of this year's Finance Bill on a new Clause put down by my hon. Friend the Member for Southampton (Mr. Craven-Ellis), and I would refer my hon. Friend to the Debate on the Clause and to the assurance given by my right hon. Friend the then Financial Secretary that the matter would be noted for consideration at the end of the war.