48. Mr. De la Bére
asked the Chancellor of the Exchequer whether he has any estimate of the difference in payment that would be made between the contribution of the Co-operative societies in taxation in a given year and that which the societies would be liable to if they were taxed in the same manner as private enterprise is taxed.
§ Mr. Glenvil Hall
There is no difference in the measure of the Income Tax charge. It is only in the case of the Profits Tax that the charge is different, for the Cooperative society is not liable to the higher rate on its payments in respect of interest on share capital. If the interest on share capital were charged to the higher rate the net yield would be about £500,000
Mr. De la Bére
Are we to understand that the Co-operative societies are not given somewhat favourable discrimination over private enterprise?
49. Mr. De la Bére
asked the Chancellor of the Exchequer what proportion of Income Tax revenue accrues to the Exchequer from private enterprise industry and trade and what from co-operative production and distribution.
Mr. De la Bére
Is it not a fact that the right hon. Gentleman does not like this question, and cannot really think of a suitable answer?
§ Mr. Rankin
Will my right hon. Friend say whether he is taking any steps to remove the restrictions on co-operative trade imposed by monopoly firms, which 209 prevent the Co-operatives from making an increased contribution to the national Revenue?