HC Deb 23 April 1947 vol 436 cc1203-4

Resolution reported: That, for the purposes of any Act of the present Session relating to Finance, it is expedient to authorise such payments out of the Consolidated Fund, such borrowings under the National Loans Act, 1939, and such releases of debts due to the Crown a9 are required by any of the following provisions of the said Act of the present Session. that is to say—

  1. (a) a provision that the permanent annual charge for the National Debt for the current financial year shall be five hundred and twenty-five million pounds and that the sums required in the current financial year for the purposes mentioned in paragraph (a) or paragraph (b) of subsection (4) of section twenty-three of the Finance Act, 1928, may be raised by such borrowings as aforesaid;
  2. (b) a provision extending section twenty-six of the Finance Act, 1946 (which relates to the repayment of post-war income tax credits to elderly persons) to credits for the years 1944–45 and 1945–46; and
  3. (c) a provision relaxing, in certain cases where assets of a trade or business are compulsorily acquired so that the trade or business or a part thereof can no longer be 1204 carried on by the persons carrying it on before the acquisition, the requirements of Part IV of the Finance (No. 2) Act, 1945, as to the giving and carrying out of undertakings in connection with the making of post-war refunds of excess profits tax."