§ 58. Sir G. Fox
asked the Chancellor of the Exchequer whether he will give an assurance that on all future occasions when he makes reductions in the purchase tax or abolishes its incidence on any article he will take steps to ensure that no loss will fall on the retail trader involved.
§ The Chancellor of the Exchequer (Mr. Dalton)
No, Sir. Retailers are not required to mark down the prices of stocks on which tax has been paid at the higher rate, and they gain, of course, from the increased demand following tax reductions.