Post-War Credits

HC Deb 12 July 1949 vol 467 c205

46. Mr. Douglas Houghton

asked the Chancellor of the Exchequer how far the Post-War Credits of the ex-Service men concerned will be reduced or extinguished by the remission of arrears of tax under the recently-made concession.

Sir S. Cripps

The amount of a Post-War Credit for any year is computed by reference to the tax borne for that year. Consequently, to the extent that tax is remitted for any year, the Post-War Credit for that year is less by that amount.

Mr. Houghton

Will my right hon. and learned Friend say whether he took the post-war set-off into account in giving the Committee an estimate of the cost of this remission?

Sir S. Cripps

In the estimate of the cost, I do not think it had been taken into account.