§ 53. Sir Waldron Smithersasked the Chancellor of the Exchequer in view of the necessity for increased production and efficiency in industry, if he will consider encouraging inventors by making at least two-thirds of all receipts from inventions non-taxable capital.
§ Mr. Glenvil HallNo, Sir.
§ Sir W. SmithersIs the right hon. Gentleman aware that under present conditions inventors in this country are getting no encouragement? Is he also aware that inventions are being sent abroad, to the grave detriment of our export trade?
§ Mr. Glenvil HallI could not accept that for a moment.
§ Sir W. SmithersIt is true.
§ Mr. Glenvil HallInventors must pay their fair share of tax on profits and income received.