Cost-of-Living Subsidy

HC Deb 21 November 1946 vol 430 c1019

62. Sir W. Smithers

asked the Chancellor of the Exchequer if he will state, in terms of Income Tax, the £369,000,000 cost-of-living subsidy.

The Chancellor of the Exchequer (Mr. Dalton)

Three shillings in the pound.

Sir W. Smithers

Will the right hon. Gentleman withdraw this subsidy as soon as possible so that the money, instead of being under Government control, will go to productive purposes and fructify in the pockets of the people?

Mr. Dalton

I do not know about fructifying in the pockets of the people, but the cheap food, which is made cheap by these subsidies, fructifies in the stomachs of the people.